KUALA LUMPUR: Malaysia’s current account recorded a surplus of RM28.8bil in the second quarter (Q2) of 2009, down 8.5% from the preceding quarter’s RM31.4bil due to a lower surplus in goods and services.
The Statistics Department said in a statement the surplus in goods stood at RM33.1bil in Q2 against RM37bil recorded in the first quarter (Q1).
Surplus in the services sector dropped to RM1bil from RM2.5bil in Q1.
However, other components in the current account showed an improvment, namely a lower net payments on income account of RM1.5bil (Q1: -RM3.9bil); and a lower leakage on current transfers of RM3.9bil (Q1: -RM4.2bil), the department said.
Year-on-year, the current account surplus of RM28.8bil in Q2 was 24.9% lower from the RM38.3bil previously.
This was in tandem with the 31.2% drop in surplus on goods of RM33.1bil from RM48.2bil before.
In April-June 2009, the deficit in the income account improved RM2.4bil or 60.8% to RM1.5bil (Q1: -RM3.9bil), solely due to lower net outlay on investment income which fell 69.7% to RM1.1bil (Q1: -RM3.6bil).
Year-on-year, the deficit in income account fell 76.7% to RM1.5bil, mainly due to lower net outlay on investment income of RM1.1bil (Q2 2008: -RM6.5bil).
Between January and June 2009, the capital account switched to a net outflow of RM100mil from a net inflow of RM764mil in the same period in 2008 due to a reversal in non-produced non-financial assets amounting to -RM46mil from RM802mil attained in first-half of last year.
In Q2 2009, the overall balance shrank 33% to RM2.1bil compared with RM3.3bil in Q1.
Meanwhile, the international reserves held by Bank Negara between January and June 2009 stood at RM80.6bil, up RM5.4bil from RM75.2bil held in the same period of 2008. – Bernama
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