March exports surges past RM80b for first time
KUALA LUMPUR: Malaysia is set to benefit from higher exports of goods and services this year as external demand strengthens, said the Malaysian Institute of Economic Research (MIER).
It said on Tuesday the country will see stronger demand from its major trading partners, leading to the export of goods and services to grow by 1.8% per annum, an upward revision of a 0.5 percentage point from its earlier forecast.
However, it maintained its forecast for growth in imports at 1.5%.
MIER executive director Prof Dr Zakariah Abdul Rashid said MIER's first quarter survey on business sentiments found that businesses were increasingly optimistic about external demand.
The MIER Business Conditions Index (BCI) registered a level of 112.7 points, the highest in the past 10 quarters.
"Malaysian manufacturers showed buoyant sentiments as they entered the first quarter of 2017.
"The quarter survey results also gave signs of a positive outlook for the manufacturing sector over the next three months," he said.
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