KUALA LUMPUR (Oct 21): Malaysia is expected to register a current account surplus of RM14.77 billion in 2017 based on total receipts and payments of RM924.13 billion and RM909.36 billion respectively.

According to the Finance Ministry's 2016/2017 Economic Report, the current account surplus is mainly due to the goods and travel accounts' surplus at RM100.12 billion and RM30.76 billion respectively.

The 2017 current account surplus estimate compares with the 2016 forecast of RM16.43 billion.

In 2016, the current account surplus is based on total receipts and payments of RM892.04 billion and RM875.61 billion respectively. This is mainly due to surplus in the goods and travel accounts at RM97.86 billion and RM29.34 billion respectively.

The goods account surplus is based on receipts and payments of RM687.9 billion and RM590.04 billion respectively. The travel account surplus is derived from receipts and payments of RM70.8 billion and RM41.45 billion respectively.

"The goods account is estimated to record a lower surplus of RM97.9 billion (2015: RM109.6 billion) following subdued global trade and prolonged low oil prices.

"Travel receipts are expected to improve 3.4% to RM70.8 billion (2015: -7.4%; RM68.5 billion) spurred by relaxation of visa policy, offering of attractive holiday packages and more international flights to new markets," the ministry said.