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QUARTERLY BALANCE OF PAYMENTS PERFORMANCE APRIL - JUNE, 2013 (Updated: 21/08/2013)


CURRENT ACCOUNT


The current account balance posted a lower surplus of RM2.6 billion for the period of April - June 2013, as compared to the previous quarter. The lower surplus was mainly contributed by:


Year-on-year, the surplus on current account reduced by RM5.4 billion from RM7.9 billion recorded in the same quarter of preceding year. This was mainly due to lower surplus on goods account by RM11.1 billion from RM29.8 billion last year.


For the first six months of 2013, current account balance showed a lower surplus of RM11.2 billion (1H 2012: RM24.8 billion), down by RM13.6 billion. This was due to the lower surplus of goods account of RM43.3 billion (1H 2012: RM65.7 billion).


Goods Account

In the quarter under review, goods recorded a lower surplus of RM18.7 billion from RM24.7 billion last quarter, of which:


Year-on-year, goods account recorded lower surplus by RM11.1 billion from RM29.8 billion a year ago. This was due to the decrease in exports f.o.b. by RM14.9 billion.


In the first half of 2013, the surplus on goods registered RM43.3 billion, reduced by RM22.4 billion from RM65.7 billion in the same period of 2012. Exports f.o.b. down by RM19.5 billion from RM352.1 billion, while imports f.o.b. rose to RM289.3 billion from RM286.4 billion.


Services Account

In Q2 2013, exports of services posted RM30.5 billion from RM29.8 billion in Q1 2013, mainly consisting of the following components:


Meanwhile, imports of services rose by RM1.0 billion to RM34.2 billion from RM33.2 billion a quarter ago, of which:


On net basis, services account recorded higher net payments of RM3.7 billion (Q1 2013: -RM3.4 billion).


Year-on-year, exports of services recorded higher receipts by RM1.9 billion (6.6 per cent) from RM28.6 billion in the same period last year. Meanwhile, imports recorded higher payments by RM1.2 billion (3.6 per cent) from RM33.0 billion.


Half yearly, exports of services account increased to RM60.3 billion from RM55.4 billion. Likewise, import of services recorded RM67.4 billion from RM64.8 billion. This resulted to lower net payments in services account by RM2.4 billion, to post RM7.1 billion from RM9.5 billion in the same period of 2012.


Primary Income Account

In the current quarter, a total of RM10.9 billion was registered for primary income receipts (credit) compared to RM9.9 billion in Q1 2013, of which:


The investment income was derived from:


Meanwhile, primary income payments (debit) posted RM19.3 billion from RM18.7 billion in Q1 2013, of which:


The investment income was derived from:


On net basis, the primary income outlay contracted by RM0.4 billion to RM8.4 billion from RM8.8 billion recorded in the preceding quarter, specifically due to lower net outlay on investment income of RM7.4 billion from RM7.9 billion.


Year-on-year, primary income receipts rose by RM1.7 billion from RM9.2 billion, mainly due to higher direct investment income. On the contrary, primary income payments decreased by RM2.8 billion from RM22.0 billion last year. On net basis, primary income account recorded lower net payments by RM4.4 billion from RM12.8 billion a year ago.


For the first six months of 2013, the deficit in primary income account narrowed to RM17.2 billion (1H 2012: -RM21.5 billion). This was contributed by the lower net outlay of investment income by RM4.8 billion to record RM15.3 billion (1H 2012: -RM20.1 billion).


Secondary Income Account

In the current quarter, secondary income recorded a higher net outlay of RM4.1 billion (Q1 2013: RM 3.8 billion).


Year-on-year, net payments on secondary income down by RM0.6 billion from RM4.6 billion a year ago. Half yearly, the net outlay narrowed by RM2.1 billion from RM10.0 billion recorded in the corresponding period of 2012.


CAPITAL ACCOUNT


In Q2 2013, capital account recorded higher net outflow of RM8.0 million from RM6.0 million in Q1 2013. This was mainly due to higher net payments on acquisitions of nonproduced nonfinancial assets by RM11.0 million.


Year-on-year, capital account showed lower net outflow by RM31.0 million (Q2 2012: -RM40.0 million). In the first half of 2013, the net outflow narrowed by RM173.0 million to RM14.0 million from RM187.0 million posted in the same period of 2012.


FINANCIAL ACCOUNT


The financial account recorded a higher net inflow of RM5.2 billion from RM1.0 billion in the last quarter. This was due to reversal of other investment to RM10.8 billion from net outflow of RM1.0 billion.


Year-on-year, financial account registered a lower net inflow by RM1.3 billion from RM6.5 billion a year ago. This was attributed to a turnaround of direct investment to net outflow of RM7.9 billion from net inflow of RM4.6 billion.


For the first half of 2013, financial account posted a net inflow of RM6.2 billion, switched from a net outflow of RM3.7 billion due to a turnaround in other investment, to net inflow of RM9.9 billion from net outflow of RM20.0 billion.


Direct Investment

i. Direct investment on assets and liabilities basis


Direct investment registered a net outflow of RM7.9 billion from RM2.2 billion last quarter, of which:


Year-on-year, direct investment recorded a reversal from a net inflow of RM4.6 billion in Q2 2012. This was mainly attributed to higher net outflow of direct investment assets by RM8.7 billion from RM6.7 billion.


Half yearly, direct investment posted a higher net outflow of RM10.1 billion from RM4.8 billion in corresponding period of 2012. This was due to lower inflow of direct investment liabilities by RM6.6 billion to RM16.8 billion from RM23.4 billion.


ii. Direct investment on directional basis




Portfolio Investment

The portfolio investment registered a net inflow of RM3.7 billion from RM3.9 billion in the last quarter, of which:


Year-on-year, portfolio investment registered a turnaround from net outflow of RM4.9 billion. In the first half of 2013, portfolio investment recorded a lower net inflow of RM7.6 billion from RM20.2 billion for the first half of 2012.


Other Investment

Other investment reverted to a net inflow of RM10.8 billion from net outflow of RM0.9 billion last quarter. This was contributed by a reversal in private sector to RM12.1 billion from -RM0.2 billion.


Year-on-year, other investment posted higher net inflow by RM5.0 billion from RM5.9 billion. Half yearly, other investment posted a net inflow of RM9.9 billion, switched from a net outflow of RM20.0 billion.


Reserve Assets

The international reserves of Bank Negara Malaysia as at end June 2013 was RM432.8 billion, an increase of RM1.5 billion in the quarter under review.

 

Download :
Table 1: Quarterly Balance Of Payments (Net), 2011 - 2013
Table 2: Current Account, 2011 - 2013
Table 3: Capital Account, Financial Account And Reserve Assets, 2011 - 2013