This post is also available in:
简体中文 (Chinese)
MIDF Research pointed out that although Malaysia’s exports are expected to decline by 6.4% this year, they will rebound to grow by 4.5% in 2024.
The research firm pointed out that the improvement in China’s imports in October indicated that China’s domestic demand was strong, indicating that Malaysia’s exports to China may improve. The report stated that if Chinese demand continues to grow, it will support the recovery of foreign trade in the coming months. China announced that imports increased by 3% year-on-year in October, but exports fell by 6.4%, exceeding expectations.
MIDF Research pointed out that China’s imports from ASEAN increased by 10.2% year-on-year, and imports from Malaysia grew strongly by 8.0%. The surge in imports in October 2023 was the first since February 2023, accounting for 27.1% of China’s imports from ASEAN. Overall, China’s imports rebounded for the first time by 3.0% year-on-year.
(Source: Bernama Image source: freepik)
