KUALA LUMPUR: The country's gross domestic product is on course for healthy second-quarter growth as indicated by April's better-than expected trade performance, says Finance Minister Lim Guan Eng.In a statement issued today, Lim said Malaysia's 4.4% year-on-year (y-o-y) increase in imports to RM74.3bil in April, which beat Bloomberg's survey of market expectations, reflects growing domestic demand. "This positive trade development happened amid a steady inflation rate of 0.2% year-on-year in April, low unemployment rate of 3.4% in March, and along with expected continuous expansion in industrial production this quarter. "The export growth, despite the persisting trade war between two of the world’s largest economies, highlights Malaysia’s competitiveness at the global stage," said Lim. "Nevertheless, Malaysia hopes that the trade war will end because eventually there will be no winners, only losers. "All parties should instead enhance cooperation at the regional and global levels to allow the global economy to grow sustainably," he said.

Source: The Star June 07, 2019 05:51 UTC