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Malaysia's Current Account Surplus Shrinks in Q2

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Malaysia recorded a current account surplus of 10.8 billion ringgit in the second quarter, down from 15.2 billion ringgit in the preceding quarter due to a higher deficit in primary income and a weakening in the services account, according to data from the Department of Statistics Malaysia on Friday.

The goods account posted net exports of 40.7 billion ringgit, up from 33.6 billion ringgit in the previous quarter.

The financial account saw a higher net outflow of 27.0 billion ringgit compared with net inflows of 27.4 billion in the preceding quarter, mainly driven by outflows in portfolio investment and financial derivatives.

Foreign direct investment recorded a net inflow of 7.4 billion ringgit, while direct investment abroad resulted in a net inflow of 0.4 billion ringgit. Malaysia's international reserves rose slightly to 537.0 billion ringgit at the end of the first quarter from 511.3 billion ringgit in the previous quarter, the data showed.

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