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Old June 20th, 2017, 09:38 AM   #3481
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M'sia on track to achieve 5% trade growth in 2017: Mustapa
By FRANCIS DASS - June 20, 2017 @ 1:50pm

International Trade and Industry (Miti) Minister Datuk Seri Mustapa Mohamed at the launch of the Miti Report 2016 today. Pix by Surianie Mohd Hanif

KUALA LUMPUR: Malaysia is on track to achieving five per cent growth in trade in 2017, International Trade and Industry (Miti) Minister Datuk Seri Mustapa Mohamed said today.

Speaking at the launch of the Miti Report 2016, Mustapa explained that the record trade growth of 23.6 per cent in the first four months of 2017 is providing the momentum for the record growth.

He said in 2016, trade growth was 1.5 per cent.

According to the report, Malaysia’s total trade in 2016 stood at RM1.48 trillion, with exports rising 1.1 per cent to RM785.9 billion and imports rising 1.9 per cent to RM698.6 billion, creating a trade surplus of RM87.2 billion for the nation.

Mustapa said the electronics and electrical (E&E) sector is still a huge contributor to Malaysian trade, accounting for 35 per cent of the country's outgoing trade.

Going forward, he said that the creative and legal professions, and components of the service sector need to be leveraged as these also generate export incomes for the country.
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