PETALING JAYA: Malaysia’s exports are expected to recover with a 2% growth forecast for 2020, against an expected decline of 1.5% to 2% for 2019, according to the Socio-Economic Research Centre (SERC).
Its executive chairman Lee Heng Guie (pix) said that the easing trade tensions between the US and China will help stabilise global trade. Should the two conclude Phase 2 trade deal, it is expected to further uplift the positive sentiment and serves as positive catalyst to reassess Malaysia’s gross domestic product (GDP) growth prospects.
“We expect the improvement will also be supported by the deployment of 5G which would be the main factor for recovery in the semiconductor sector as well as higher commodity and crude oil prices,“ Lee told the media at SERC’s 2020 outlook briefing.
The US and China are slated to conclude the Phase 1 trade deal tomorrow.
For 2020, Lee projected that Malaysia’s GDP will grow 4.5%, a slight decline from an estimated growth of 4.6% in the previous year, on the back of the prolonged trade war between the world’s two largest economies.
source https://www.thesundaily.my/business/serc-malaysia-s-exports-set-to-recover-with-trade-war-optimism-YB1892302
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