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HIGHEST since October 2008! Positive for the Ringgit, hopefully?

Posted in Malaysian economy and more

By the way, the strength of a currency SHOULD depend on the trade. The higher the exports, the higher the demand for our currency and the value should appreciate. It should NOT be based on speculative stuffs. As a trading nation, Malaysia is ranked 25th out of over 200 countries in the world. Yes, for a country with a population considered small, we are really punching above our weight thus far. Malaysia has been having trade surpluses since 1997 and our positive trade surplus for September 2018 is the HIGHEST since October 2008. In September, we exported RM83.05 billion while imports declined to RM67.78 billion. This gives us a trade surplus of RM15.26 billion. The article in NST for reference here. 

Oh yeah, that largest economy in the world whose currency appreciated against the ringgit? It’s trade deficit was the reason it started a trade war with China. In a statement, International Trade and Industry Ministry said expansion in trade was seen with major trading partners, namely Hong Kong SAR, Asean, Taiwan, Australia, Saudi Arabia and the United States of America (USA). The higher exports was driven mainly by higher exports of electrical and electronic (E&E) products, chemicals and chemical products, iron and steel products as well as optical and scientific equipment, it added. For the first nine months of 2018, total trade expanded by 5.5 per cent to RM1.382 trillion compared to the same period in 2017. The article in NST for reference here. 

It’s the new Malaysia. Hopefully more Malaysians forward these positive news instead of just the negative ones. Frankly, the unsold numbers are NOT that negative for some states, especially Selangor and Kuala Lumpur. Image attached. Could it be better? Of course, when the property mismatches are reduced, it will be. Especially on the pricing part for which most developers are already aware. Latest launches are mostly below RM500,000. Earlier article here. With lower priced units and an improving market sentiment, then the unsold units would naturally go down further. Happy understanding and… forwarding.

written on 4 Nov 2018

Next suggested article: Slightly earlier but worth reading: Positive news? Without any doubt, YES. 

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