Too many negative news. So, I must share some positive notes even if there’s that little possibility of the first trade deficit within the next 1 year. Read here for an earlier article: Summary of the potential twin deficits for Malaysia As per reported in a few medias, Malaysia’s export sector has reached the 224th consecutive months of trade SURPLUS. Yes, we are definitely not like many which are already in deficits long time ago. Within H1 2016, the total trade surplus was RM41.79 billion and this is higher than even the H1 2015 at RM41.69 billion.
International Trade and Industry Ministry (Miti) further shared in a statement that the country’s trade in H1 2016 grew by 1.3 per cent to RM704 billion and again, this was higher than the RM694.98 billion recorded in H1 2015. Never mind that it increased by just marginally. Just look at the world today. Of politics, IMF and global GDP forecast Miti said exports of manufactured goods for the January-June 2016 period grew by RM16.31 billion or 5.6 per cent to RM309.17 billion compared to the first six months of 2015. The main exports include electrical and electronics (E&E) products, manufactures of metal, machinery, equipment and parts, optical and scientific equipment, chemicals and chemical products as well as processed food.
Coming back to why I am pro-ASEAN. Malaysia’s exports to ASEAN nations grew by 6 percent in H1 2016 to reach a value of RM110.04 billion. This is nearly 30 percent of our total exports! It’s not easy as ASEAN comprises of many countries but exports to ASEAN is higher than to the US, at RM67.45 billion. It is also very slightly higher than the trade with China, at RM108.85 billion. Within H1 2016, there are three nations where there were significant increase in exports from Malaysia.They are Mexico, Nigeria and Bangladesh. (RM1.15 billion, RM1.06 billion and RM1.03 billion respectively). Some claps please. Happy following and believing.
written on 7 Aug 2016
next suggested article: Lower GDP growth for Malaysia expected for 2016