KUALA LUMPUR: Malaysia’s current account balance for the second quarter of this year (Q2 2012) showed a lower surplus of RM9.6 billion, down from RM18.1 billion attained a quarter ago, the Statistics Department said.
Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=688429
Published: August 16, 2012
It said performance for the quarter reviewed was weighed down by lower surplus recorded in goods account, which declined by RM6.4 billion to RM29.4 billion, and an increase of income account, which was RM3.1 billion higher to RM11.7 billion in.
Year-on-year (YoY), the surplus on current account was reduced by RM13.4 billion from RM23 billion a year ago. Under the goods account for Q2 2012, goods exports free on board (f.o.b) rose to RM177.7 billion from RM174 billion in the first quarter (Q1).
Goods import f.o.b improved to RM148.2 billion compared with RM138.2 billion in the January-March 2012 period, the department said.
As for the service account, export of services posted a slight surplus of RM28.9 billion against RM27.9 billion in Q1 2012.
Import of services also advanced by RM0.7 billion from RM31.7 billion a quarter ago.
In the current quarter, income receipts (credit) stood at RM9 billion from RM9.6 billion in Q1, while income payments (debit) posted RM20.7 billion from RM18.2 billion.
At the same time, the net payments on current transfer narrowed to RM4.6 billion from Q1’s RM5.3 billion.
Both receipts and payments surged to record RM2.3 billion and RM6.9 billion, respectively.
YoY, the net payments on current transfer declined by 13.8 per cent from RM5.3 billion last year.
On the capital account for Q2 2012, the department said it recorded a lower net outflow of RM67 million from RM166 million in last quarter, due to lower net outflow on both capital transfers and non-produced, non-financial assets by RM60 million and RM40 million, respectively.
In the quarter under review, the financial account turned around to a net inflow of RM5.4 billion from a net outflow of RM10.3 billion previously.
This movement was driven by a switch in both other investment (from -RM26.1 billion to +RM5.9 billion) and direct investment (from -RM9.4 billion to +RM3.5 billion).
YoY, the financial account showed a lower net inflow by RM46.1 billion to RM5.4 billion from RM51.5 billion registered in 2011.
Meanwhile, the direct investment turned to a net inflow of RM3.5 billion from a net outflow of RM9.4 billion last quarter.
Portfolio investment, however, reverted to net outflow of RM5 billion from a net inflow of RM25.3 billion previously.
Other investment in Q2 this year has moved from net outflow of RM26.1 billion to a net inflow of RM5.9 billion, while YoY, it recorded a higher net inflow of RM5.9 billion from RM1.2 billion.
The international reserves of Bank Negara Malaysia increased by RM12.7 billion to RM428.8 billion as at end-June 2012.
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