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Exports seen growing at solid pace in second half

Exports will remain growing at solid pace this year, given that economic performance in major and emerging economies are on uptick momentum together with gradual improvement in commodities prices, said MIDF Research.

The research house said yesterday that it was maintaining its 2017 exports growth forecast at 14.5%.

For the first time in 12 months, exports in May 2017 grew higher than imports, at 32.5% year-on-year compared to 30.4% year-on-year respectively.

On monthly basis, total trade expanded strongly by 10.2%.

Based on the current momentum, the research house said the average value of exports for the first five months was at RM75.6bil compared with RM65.5bil a year ago.

“We expect exports will continue to perform well in the second half of the year.