KUALA LUMPUR: Imports also increased 30.4% in May. Malaysia’s gears continue to run after it reported a 32.5% YoY jump in exports, OCBC Treasury Research said in a report. Imports also increased YoY from 24.7% in April to 30.4% in May.
The country’s foreign reserves also rose to US$98.9b compared to the totals half a month ago at $98.7b. Bank Negara is confident the amount can finance 7.9 months worth of retained imports and 1.1 times of the country’s short-term external debt, OCBC said.