HSBC: Service exports to grow 8% yearly till 2030

Ng: ‘The ongoing focus of the government on outsourcing will continue to drive growth in business-to-business.’

KUALA LUMPUR: Malaysia’s service exports growth is forecast to average more than 8% a year from 2016 until 2030, boosted by strong growth in tourism, according to HSBC’s new global trade forecast.

The report revealed that service exports accounted for over 16% of total exports in 2015.