Export figures boost Malaysian growth outlook

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Malaysia’s central bank chief Tan Sri Dr Zeti Akhtar Aziz has said the country could experience in boost in economic performance after encouraging export figures were released by the government’s Statistics Department.

Dr Zeti, governor of Bank Negara, was quoted by local media on Friday (20/04/12) as saying Malaysia was well on the way to hitting growth targets, as long as trade figures remain positive.

“If this trend is sustainable, then we’ll see improvement in the overall performance of the economy and see our outlook for growth closer to the upper end of the 4% to 5% range we forecast,” she was quoted as saying.

Figures showed that Malaysian exports rose 14.5 per cent year-on-year in February to RM56.9 billion on the back of increased demand for electrical and electronic products, which climbed 7.8 per cent to RM18.6 billion.

Crude petroleum exports increased 54.4 per cent thanks to greater sales volume and higher prices.

Press reports highlighted the fact that the International Monetary Fund, in its latest World Economic Outlook released on Tuesday, revised Malaysia’s growth to 4.4 per cent this year from 4% earlier in the year while the Malaysian Institute of Economic Research has also revised growth to 4.2% from 3.7% previously.

However, Dr Zeti warned that risks remained, especially from possible effects of a worsening euro-zone debt crisis.

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Reading Time: 1 minute

Malaysia’s central bank chief Tan Sri Dr Zeti Akhtar Aziz has said the country could experience in boost in economic performance after encouraging export figures were released by the government’s Statistics Department.

Reading Time: 1 minute

Malaysia’s central bank chief Tan Sri Dr Zeti Akhtar Aziz has said the country could experience in boost in economic performance after encouraging export figures were released by the government’s Statistics Department.

Dr Zeti, governor of Bank Negara, was quoted by local media on Friday (20/04/12) as saying Malaysia was well on the way to hitting growth targets, as long as trade figures remain positive.

“If this trend is sustainable, then we’ll see improvement in the overall performance of the economy and see our outlook for growth closer to the upper end of the 4% to 5% range we forecast,” she was quoted as saying.

Figures showed that Malaysian exports rose 14.5 per cent year-on-year in February to RM56.9 billion on the back of increased demand for electrical and electronic products, which climbed 7.8 per cent to RM18.6 billion.

Crude petroleum exports increased 54.4 per cent thanks to greater sales volume and higher prices.

Press reports highlighted the fact that the International Monetary Fund, in its latest World Economic Outlook released on Tuesday, revised Malaysia’s growth to 4.4 per cent this year from 4% earlier in the year while the Malaysian Institute of Economic Research has also revised growth to 4.2% from 3.7% previously.

However, Dr Zeti warned that risks remained, especially from possible effects of a worsening euro-zone debt crisis.

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