KUALA LUMPUR: Malaysia’s export is expected to grow around 3% to 4% this year, supported by the recovery in commodity and crude oil prices, as well as a pick-up in electronics exports.
Speaking at a press conference on 2017 economic outlook today, OCBC Bank economist Wellian Wiranto said the country’s exports will remain positive this year, even though the global economic growth remains uncertain.
“The recovering commodity prices have been offering the economy some support. The crude oil prices are also moving towards gradual rebalancing following the Opec production cuts. We see the oil price would recover to US$65 per barrel this year,” he noted.
However, Wellian said if US President Donald Trump ended up implementing stringent tariffs on imports of goods into the country, it would threaten some Asian exporter nations including Malaysia.
