Putrajaya, 14 August 2026 – Malaysia’s current account remained in surplus in the second quarter, but the cushion narrowed even as exports strengthened. The combination matters for investors because it shows that headline trade growth does not translate mechanically into a wider external surplus. Import demand, services payments and cross-border income flows can absorb part of the gains generated by merchandise exports.
The latest balance-of-payments picture follows a first quarter in which the current account surplus reached RM15.2 billion, supported by surpluses in goods and services. The second-quarter moderation therefore points to a changing composition rather than an abrupt loss of external competitiveness. Malaysia continues to benefit from electronics, digital services, tourism and regional supply-chain activity, while investment-related imports and payments abroad remain important offsets.
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