UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assessed the prospects for the exports sector in Malaysia. Key Quotes “Exports fell 1.5% y/y in Jan (Dec 2019: +2.7% y/y), marking a weak start to the year. Jan’s export decline came in steeper than our estimate (-1.0% y/y)… Imports also fell 2.4% y/y in Jan (Dec: +1.0% y/y). This resulted in a narrower trade surplus of MYR12.0bn (Dec: +MYR12.5bn).” “Several factors contributed to Jan’s decline including a shorter working month due to the Lunar New Year celebration and the emerging coronavirus (COVID-19) outbreak. China imposed a lockdown in Wuhan and other cities in Hubei province on 23 Jan to contain the virus outbreak. Malaysia’s export weakness is in line with regional peers.” “The outlook for Malaysia’s export sector is less certain despite a gradual pick-up of economic activity in China. As COVID-19 spreads to some of Malaysia’s key trading partners and stringent measures are taken to contain the outbreak, this could prolong the weakness for Malaysia’s exports. The latest batch of global and regional leading indicators has come in weaker than expected. Pending Feb’s trade data, we are likely to revise down our export outlook of +2.0% in 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Iranian OilMin: Amount of oil production cut not agreed yet, must be discussed FX Street 3 years UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assessed the prospects for the exports sector in Malaysia. Key Quotes “Exports fell 1.5% y/y in Jan (Dec 2019: +2.7% y/y), marking a weak start to the year. Jan’s export decline came in steeper than our estimate (-1.0% y/y)… Imports also fell 2.4% y/y in Jan (Dec: +1.0% y/y). This resulted in a narrower trade surplus of MYR12.0bn (Dec: +MYR12.5bn).” “Several factors contributed to Jan’s decline including a shorter working month due to the Lunar New Year celebration and the emerging coronavirus (COVID-19) outbreak. China imposed a lockdown in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.