Ways to maintain positive trade balance

Quick Summary:

While there are challenges, particularly with the declining trade surplus and uneven external demand, economists say there are opportunities for exports to grow if effective measures are implemented.

He noted that the trend had been evident since August last year, with the trade surplus falling year-on-year (y-o-y).“The global economy this year is expected to grow around 3.1%, the same as last year.

Despite an overall increase in total trade by 8.7% to RM1.4 trillion for the first half of 2024 (1H24), trade balance has declined by 43.9% from RM119.2bil in 1H23 to RM66.12bil, according to an Investment, Trade and Industry Ministry (Miti) statement yesterday.

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Article Details

Author / Journalist: KIRENNESH NAIR

Category: EconomyBusiness

Markets: MalaysiaChinaTaiwanUnited States

Topics: HighGrowthAreas EconomicChallenges ExportGrowth TradeSurplus NewMarkets Economy /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 00:00:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 953 words

Reading Time: 6 minutes read

Sentences: 32 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21677462

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