Malaysia positive on 2008 export outlook
February 13, 2008 00:00:00
KUALA LUMPUR, Feb 12 (AFP): Malaysian Trade Minister Rafidah Aziz said today the country's export forecast for 2008 is bright despite global uncertainties after exports rose by 2.7 per cent in 2007.
"We have managed to see an extension of our exports and it is in that context that exports will continue to be on a positive trend for 2008," Rafidah told reporters.
Rafidah said exports for 2007 reached 605.1 billion ringgit (187 billion dollars) from 589 billion ringgit in 2006, while imports grew by 4.9 per cent to 504.57 billion ringgit in 2007 from 480.5 billion the year before.
Total trade in 2007 grew by 3.7 per cent to hit 1.1097 trillion ringgit (344 billion ringgit) from 1.0697 trillion ringgit in 2006 -- the first time it breached the trillion-dollar mark-with a trade surplus of 100.53 billion.
Malaysian exports to the US declined by 14.5 per cent in 2007, but Rafidah said that weaker demand from the US, a major buyer of Malaysian-made electronic and electrical goods, was offset by exports to emerging markets.