Economy / Malaysia
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Malaysia
July 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Malaysia's current account surplus rose 21.4% y-o-y in Q108 to MYR23.8bn (US$7.3bn) on the back of a larger surplus in goods trade. However, compared with the fourth quarter of 2007, the overall surplus shrank by 9.5%, weighed down by a narrower goods surplus and higher outflows of net income and current transfers. Going forward, we expect Malaysia's current account surplus to continue narrowing, forecasting the surplus to shrink to 11.9% of GDP in 2008 from 15.5% a year earlier as the country's trade surplus continues to decline. However, we highlight that Malaysia's external position nonetheless remains highly secure.