Balance of payment records higher surplus of RM33.5 billion in 2018

KUALA LUMPUR: Malaysia’s balance of payments recorded a higher surplus of RM33.5 billion last year compared to 2017, contributed by better surplus in goods account and lower deficit in services account, the Statistics Department said.

Meanwhile, balance of payments recorded a higher surplus of RM10.8 billion in the current account for the final quarter (Q4) of 2018 as compared to RM3.8 billion in the previous quarter (3Q).

In a statement yesterday, it said the better performance in Q4 was attributed to the goods account at RM33 billion from RM26.6 billion in 3Q.

Meanwhile, financial account recorded a net outflow of RM6.1 billion.

“Foreign Direct Investment (FDI) accelerated to RM12.9 billion from RM4.3 billion in the previous quarter,” said the department, adding that the FDI were mainly from Netherlands, Japan and Hong Kong.

Similarly, Malaysia’s Direct Investment in Abroad (DIA) also registered a higher net outflow of RM10.8 billion with the main destinations to Canada, Indonesia and Singapore.

“In 2018, FDI in Malaysia recorded RM32.6 billion while DIA was RM21.3 billion,” it said.

Portfolio investment turned around to net outflow of RM5.8 billion from net inf low of RM0.8 billion in 3Q.

The portfolio investment assets showed a reversal to net outflow of RM3.3 billion, while liabilities recorded a lower net outflow of RM2.5 billion.

Likewise, other investment recorded a turned around to net outflow RM1.8 billion from a net inflow of RM1 billion in last quarter.

“The international reserves of Bank Negara Malaysia stood at RM419.5 billion compared to RM426.9 billion in the previous quarter,” said the department. — Bernama