Tag: Global Economy

Malaysia's exports increased 9.8% to RM112.28 billion in February 2023, with robust sales of petroleum products, electrical and electronic goods, and liquefied natural gas. Imports rose 12.4% to RM92.71 billion, resulting in a trade surplus of RM19.56 billion, a 7.9% increase from January.

The Malaysian Palm Oil Board revealed a 6.56% decrease in palm oil stocks in February 2023, with crude palm oil stockpiles falling 7.69% to 1.16 million tonnes. Production also declined, with CPO output dropping 9.35% and palm kernel production reducing 7.10% compared to January's figures.

Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus reports that Malaysia is unlikely to enter a recession this year. Strong domestic demand and expenditure are expected to support economic growth, with the first quarter of 2023 showing more robust performance compared to the previous quarter.

Cambodia's commerce minister Pan Sorasak reports significant trade improvements in 2022, with foreign trade value reaching $52.425 billion. Imports and exports increased by 4.32% and 16.44% respectively, leading to a 20.60% reduction in trade deficit. The ministry focuses on reforms and enhancing business environment for continued growth.

Philippine Peso and Malaysian Ringgit lead Asian currency gains, supported by resilient U.S. economic data. Both currencies strengthen in January, with ringgit appreciating about 4% year-to-date, reflecting improved economic outlook and investor optimism.

Malaysia's total trade reached RM236.0 billion in December 2022, marking an 8.6% year-on-year increase. Exports rose 6.0% to RM131.9 billion, while imports grew 12.0% to RM104.1 billion. The country's total trade for 2022 hit a new milestone of RM2.8 trillion.

The UN Food and Agriculture Organization reported global food prices reached unprecedented levels in 2022, averaging 14% higher than 2021. Factors like the Russian invasion of Ukraine, widespread drought, and economic challenges contributed to significant price increases across grains and vegetable oils.

Chile's ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) creates significant opportunities for Malaysian businesses, enabling reduced tariff rates and improved trade prospects between the two countries.

According to CEOs, the largest US banks are preparing for a poorer economy next year as inflation threatens consumer demand. Jamie Dimon, the chief executive...

- Asian stocks show modest gains amid concerns about global economic slowdown and Federal Reserve interest rate hikes. Hong Kong and China markets rise, while Australian and Japanese indexes decline, reflecting investor sentiment and ongoing economic challenges.