KUALA LUMPUR: Malaysia’s trade is targeted to hit RM2 trillion this year, according to International Trade and Industry Ministry, despite easing 2.5 per cent to RM1.83 trillion last year from RM1.88 trillion in 2018. “Export contracted by 1.7 per cent year-on-year (yoy), slightly higher than our estimate of a 1.1 per cent contraction yoy. “Malaysia total trade recorded positive growth in December 2019 at 1.9 per cent yoy, ending a six-month contraction streak as both export and import grew. Perhaps with the improving global situation and global trade as well as crude oil and crude palm oil, it will be beneficial to Malaysia,” Ong said at a press conference on the trade performance here today. “This was the largest trade surplus since 2009, representing Malaysia’s achievement of 22nd consecutive year of trade surplus,” he added.

Source: New Strait Times February 05, 2020 04:07 UTC