Malaysia’s Exports Set to Grow as Global Economies Start Opening Up: MIDF Research

Malaysian Industrial Development Finance (MIDF) Research has stated that the global Industrial Production Index (IPI) is projected to improve as markets begin to open up, inevitably leading to growth in Malaysia's exports. MIDF Research added that IPI performances across major and emerging economies were worse in April 2020 due to the lockdowns to contain the spread of COVID-19 pandemic.

According to MIDF Research, Malaysia’s IPI declined by 32% year-over-year (YoY) in April 2020 with all sub-indexes recording double digit declines. Amongst the sub-indexes, manufacturing declined 37.2% YoY whilst the Mining sector contracted by 19.6% YoY driven by lower oil prices and fall in demand due to lockdowns across the glob...