Azmin: Declines in exports and imports due to Covid-19

PETALING JAYA: Declines in both exports and imports are expected given that most countries around the world were under some form of lockdown to contain the spread of Covid-19, Senior Minister and Minister of International Trade & Industry Datuk Seri Mohamed Azmin Ali (pix) said today.

He was commenting on the April trade performance, which saw Malaysia’s trade amounting to RM133.34 billion, a decrease of 16.4% compared with April 2019.

“This has caused major disruptions to the manufacturing activities and movement of goods globally,” he said in a statement.

“Nevertheless, exports of some products such as iron and steel, rubber gloves and refined palm oil recorded increases.”

Mohamed Azmin said the country’s exports are expected to improve in the coming months as the government allowed more industries to resume operations and at full operating capacity since May 4.

“Similarly, companies in other countries are also ramping up their business operations. This will boost trade activities between Malaysia and other countries,” he added.