Continuous Increase in Malaysia’s Exports Support Economic Recovery Expectations for the Remainder of 2020: Economists

Malaysia’s exports rose to MYR 84.43 billion in November 2020, up 4.3% year-on-year (YoY), completing three consecutive months of YoY export growth, according to local media reports. The YoY growth recorded in November 2020 was also higher than the 0.2% YoY expansion in exports in October 2020. Exports out of Malaysia have shown a steady increase in 2020 following initial shocks resulting from the COVID-19 pandemic in April and May 2020, stated local media reports.

Data from Malaysia’s Ministry of International Trade and Industry (MITI) showed Malaysia’s trade surplus at MYR 16.82 billion for November 2020, up 151.6% YoY, whilst the trade surplus for the first eleven months of 2020 amounted to MYR 163.86 billion, reflecting YoY growth of 23.1%. The MITI stat...