ID :
188447
Tue, 06/14/2011 - 11:59
Auther :
Shortlink :
https://oananews.org//node/188447
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MALAYSIA 2011 TRADE TO GROW AT SLOWER RATE
KUALA LUMPUR, June 14 (Bernama) -- Malaysia's trade in 2011 is projected to grow, albeit at a slower rate compare with last year's, with manufactured goods and commodities continue to contribute to growth in exports.
Malaysia International Trade and Industry (MITI) said exports to both developing and emerging markets would contribute to growth in trade.
"The Tenth Malaysia Plan forecasts exports to grow 10.6 per cent annually which depends greatly on the economic and political developments in the developed and emerging markets during the Plan duration," it said in its 2010 Malaysia International Trade and Industry Report released here Tuesday.
MITI said although China is moderating its growth to eight per cent, it is still a promising market for Malaysian exports.
Meanwhile, Malaysia's export to India are expected to continue to register double-digit growth this year with the signing of the free trade agreement between Malaysia and India together with the strong eight per cent economic growth, it said.
Malaysia's exports to Asean are expected to register significant growth in tandem with the growth forecast for Singapore, Indonesia and Thailand on the background of greater economic integration within Asean that will give impetus to exports to the region.
For manufactured goods, electrical and electronic products are expected to maintain its dominance as the major contributor to exports.
However, the growth in electrical and electronic exports will be moderate in the first quarter of this year due to anticipated slowdown of the global semiconductor industry, it said.
Exports of palm oil, liquefied natural gas, refined petroleum, crude petroleum and crude rubber will continue to show strong growth this year driven by both increased demand and high prices.
MITI said that to ensure Malaysian companies derive maximum benefit from the global economic recovery in 2010, Malaysia External Trade Development Corp would continue to undertake over 200 programmes in the areas of exporters development and export promotion.
"Malaysia's overseas promotional activities will focus on retaining the country's share in traditional markets while expanding into the fast-growing markets of Brazil, Russia, India and China as well as diversying into the emerging markets of West Asia, Central Asia and Africa," it said.
-- BERNAMA
Malaysia International Trade and Industry (MITI) said exports to both developing and emerging markets would contribute to growth in trade.
"The Tenth Malaysia Plan forecasts exports to grow 10.6 per cent annually which depends greatly on the economic and political developments in the developed and emerging markets during the Plan duration," it said in its 2010 Malaysia International Trade and Industry Report released here Tuesday.
MITI said although China is moderating its growth to eight per cent, it is still a promising market for Malaysian exports.
Meanwhile, Malaysia's export to India are expected to continue to register double-digit growth this year with the signing of the free trade agreement between Malaysia and India together with the strong eight per cent economic growth, it said.
Malaysia's exports to Asean are expected to register significant growth in tandem with the growth forecast for Singapore, Indonesia and Thailand on the background of greater economic integration within Asean that will give impetus to exports to the region.
For manufactured goods, electrical and electronic products are expected to maintain its dominance as the major contributor to exports.
However, the growth in electrical and electronic exports will be moderate in the first quarter of this year due to anticipated slowdown of the global semiconductor industry, it said.
Exports of palm oil, liquefied natural gas, refined petroleum, crude petroleum and crude rubber will continue to show strong growth this year driven by both increased demand and high prices.
MITI said that to ensure Malaysian companies derive maximum benefit from the global economic recovery in 2010, Malaysia External Trade Development Corp would continue to undertake over 200 programmes in the areas of exporters development and export promotion.
"Malaysia's overseas promotional activities will focus on retaining the country's share in traditional markets while expanding into the fast-growing markets of Brazil, Russia, India and China as well as diversying into the emerging markets of West Asia, Central Asia and Africa," it said.
-- BERNAMA
