PUTRAJAYA, Aug 21 – Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said that the Malaysia’s exports remained strong with net exports and trade balance in favor of the country despite the weakening ringgit. He said the country’s export target for this year is RM777.96 billion while exports for the first half of this year amounted to RM368.3 billion.
“Malaysia is on track to achieve the export target,” he told reporters when asked about the impact of ringgit depreciation on exports. After Budget 2016: Focus Group Meeting to Boost Exports Performance in the Finance Ministry here on Thursday. According to me, the country’s exports are still higher than imports. Exports have fallen, imports have also fallen. What is good here is that surplus is still on our side,” he said.
“That means that net exports. It will only concerns us if imports are higher than exports. But here’s exports higher than imports. That means the balance of trade is still on our side. The country’s exports in January amounted to RM63.6 billion, February amounted to RM53.2 billion, March amounted to RM66.5 billion, April amounted to RM60.4 billion, May amounted to RM60.5 billion and June amounted to RM64.3 billion,” said Ahmad Husni again.
