Malaysia's deficit drops

Malaysia's deficit drops

KUALA LUMPUR (AFP): Malaysia recorded a trade deficit of 900
million ringgit (US$300 million) in July, sharply lower than
June's 2.8 billion ringgit, the statistics department said
yesterday.

Exports rose 3.7 percent from last month to 17.150 billion
ringgit while imports declined 6.9 percent to 18.006 billion
ringgit, the department said in its monthly report released
through Bernama news agency.

Malaysia imported 800 million ringgit worth of high-cost items
in July such as ships and aircraft, of which 100 million ringgit
was re-exported. The department noted that July's trade deficit
would only be 200 million ringgit without the high-cost items.

Analysts said the release of the long-awaited trade figure was
in line with expectations and would further boost the stock
market, which soared Friday following the lifting of trade curbs
and a change in government policies.