KUALA LUMPUR, May 31 (NNN-Bernama) — Malaysia’s burgeoning trade performance has been a bright spot among Southeast Asian (SEA) economies, Moody’s Analytics associate economist Sonia Zhu said.<\/p>\n\n\n\n
She said exports surged 63 per cent year-on-year (y-o-y), but the strong growth rate is inflated by the low-base effect, when exports nosedived during the peak of the pandemic and the subsequent full lockdown last year.<\/p>\n\n\n\n
But on an encouraging note, exports still rose 0.6 per cent month-on-month (m-o-m), she added.<\/p>\n\n\n\n
“As expected, the main contributor to exports was electrical and electronics products such as semiconductors and integrated circuits.<\/p>\n\n\n\n
“While Singapore and China remained the major countries of exports, totalling close to one-third of Malaysia’s total exports,” she said in a statement Monday.<\/p>\n\n\n\n
While imports increased 24.4 per cent y-o-y and 5.4 per cent m-o-m, exceeding expectations, with the increase broad-based across all three categories (intermediate goods, capital goods, and consumption goods).<\/p>\n\n\n\n
Consumption goods increased due to higher imports of durable goods demanded during the Aidilfitri festive period, which lasts for one month from April to May, she added.<\/p>\n\n\n\n
“An increase in intermediate goods and capital goods, which account for a total of 65 per cent of import value, is a welcome sign that Malaysia is ramping up manufacturing production for exports.<\/p>\n\n\n\n
“Despite battling with record high COVID-19 infections domestically, all manufacturing plants are still operating at above 50 per cent capacity,” she said.<\/p>\n\n\n\n
Zhu said Malaysia plays an integral role in the global supply chain and continues to benefit from higher global demand.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, May 31 (NNN-Bernama) — Malaysia’s burgeoning trade performance has been a bright spot among Southeast Asian (SEA) economies, Moody’s Analytics associate economist Sonia Zhu said. She said exports surged 63 per cent year-on-year (y-o-y), but the strong growth rate is inflated by the low-base effect, when exports nosedived during the peak of the […]<\/p>\n","protected":false},"author":17,"featured_media":26651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/124615"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124615"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/124615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/26651"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124615"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}