Malaysia’s External Trade Set to Rebound in 2024
MIDF Research predicts a recovery in Malaysia’s external trade in 2024, forecasting a 5.2% increase in exports and a 4.4% increase in imports.
The projection aligns with expectations of improved global demand, particularly in the electrical and electronics (E&E) sector.
External Trade – Optimism for 2024
RHB Investment Bank remains optimistic about Malaysia’s trade prospects in 2024, anticipating a 4.3% rebound in exports, driven by brighter global economic prospects, positive dynamics in China, and a resurgence in the global technology cycle.
Despite challenges, Malaysia maintained a trade surplus of RM214.1 billion in 2023, marking the 26th consecutive year of surplus.
“We expect exports and imports of goods to rebound in 2024 and grow by 5.2% and 4.4%, respectively.”
“The three main drivers for export growth in the first half of this year are a brighter global and regional economic outlook, positive dynamics in China’s economy, and a resurgence in the global technology cycle,” analysts say.
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