Exports to expand 1% in 2020, current account surplus to narrow to RM29b

11 Oct 2019 / 16:04 H.

• In 2020, overall gross exports are expected to expand 1% benefiting from the anticipated improvement in global trade activities and the uptick in the electrical and electronics cycle. This compares with an estimated 0.1% increase in gross exports for 2019.

• Gross imports are projected to turnround 2.7% in 2020 from a 2.5% contraction in 2019, in line with higher imports of intermediate, capital and consumption goods.

• Current account surplus is expected to narrow to RM29 billion or 1.9% of gross national income in 2020 from RM43 billion or 2.9% of GNI in 2019.

• Inflation is projected to expand 2% in 2020, mainly due to the expected introduction of targeted fuel subsidy.

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