Stronger growth likely in January
KUALA LUMPUR: Exports likely chalked up stronger growth in January on the back of stronger commodity prices.
According to economists, exports likely rose by 15.9 per cent and imports by an average of 12.8 per cent. The trade balance likely averaged RM8.69 billion.
The International Trade and Industry Ministry will release the data today.
Standard Chartered Bank economist Edward Lee expects exports to remain robust on rising commodity prices.
“We expect exports to have returned a strong print, increasing 17.5 per cent year-on-year versus 10.7 per cent in December, in line with the recent pick-up in export growth in the region.”
Export growth, he added, continued to be driven by low commodity prices and healthy de- mand from key destinations like China and Singapore.
“With higher export growth an increasing consensus, we expect volume performance to be more significant going forward.”
Imports may be slower, he said, adding that a slowdown in growth from November to December was expected.