Malaysia’s economic recovery remains in sight with a better trend as signalled by Malaysia's macroeconomic performance in April 2022 amid global uncertainty, said the Department of Statistics Malaysia (DoSM).
On a street in Kuala Lumpur, Malaysia (Photo:AFP/VNA)
Kuala Lumpur (VNA) - Malaysia’s economic recovery remains in sight with a better trend as signalled by Malaysia's macroeconomic performance in April 2022 amid global uncertainty, said the Department of Statistics Malaysia (DoSM).
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement that Malaysia is blessed with natural resources and commodities such as petroleum products and palm oil.
As a net commodity exporter, Malaysia also benefits from higher commodity prices resulting in the country’s total trade chalking up a double-digit annual growth of 21.3% to 231.4 billion RM, he said.
Exports rose 20.7% to 27.5 billion RM while imports went up 22% to 103.9 billion RM. The trade balance rose 15.7% and continued to remain in surplus at 23.5 billion RM.
Malaysia's trade performance in May 2022 remained resilient, recording the fastest growth since November 2021, with total trade surpassing 1 trillion RM, he said.
Malaysia is expected to maintain a better economic recovery in the upcoming months, Mohd Uzir noted.
The S&P Global Ratings recently revised Malaysia’s long-term sovereign credit ratings outlook to ‘stable’ from ‘negative’ as it believes Malaysia is on a strong economic recovery path compared to other countries at similar income levels./.
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Malaysia recorded net foreign investment inflows of 48.1 billion ringgit (10.93 billion USD) in 2021, the highest since 2016, signaling the robust recovery, according to the Department of Statistics Malaysia (DOSM).
Malaysia's economic growth is expected to increase further in the second and third quarters of this year, driven by the government's continued efforts to attract foreign investments, as well as the success of the COVID-19 vaccination programme.
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On a street in Kuala Lumpur, Malaysia (Photo:AFP/VNA) 
