Malaysia exports could fall in '09
Tuesday, 24 February 2009
KUALA LUMPUR, Feb 23 (Reuters): Malaysia's exports could fall 3 to 4 per cent this year from 2008, a top minister said on Monday, as the global economic slowdown pushes down demand for the country's products.
"The best could be 0.5 per cent . We fear that it might be a minus range of 3 to 4 per cent," International Trade and Industry Minister Muhyiddin Yassin told reporters.
Exports fell 14.9 per cent from a year earlier in December, the biggest monthly fall in seven years, according to the latest data.
In 2008, Malaysian exports grew 9.6 per cent.
Malaysian exports and industrial production have been severely hit by collapsing demand for electronics in key markets, like the United States, and falling commodity prices.
Electronics account for nearly 40 per cent of Malaysian exports while palm and crude oil account for nearly a fifth.
"The best could be 0.5 per cent . We fear that it might be a minus range of 3 to 4 per cent," International Trade and Industry Minister Muhyiddin Yassin told reporters.
Exports fell 14.9 per cent from a year earlier in December, the biggest monthly fall in seven years, according to the latest data.
In 2008, Malaysian exports grew 9.6 per cent.
Malaysian exports and industrial production have been severely hit by collapsing demand for electronics in key markets, like the United States, and falling commodity prices.
Electronics account for nearly 40 per cent of Malaysian exports while palm and crude oil account for nearly a fifth.