Malaysia-Germany trade set to grow between 5% to 7%

  • Business
  • Wednesday, 29 Jul 2015

KUALA LUMPUR: Malaysia-Germany total trade, which touched a high of 10.9 billion  last year, is expected to grow by between 5% and 7% more this year, says Malaysian-German Chamber of Commerce and Industry (MGCC). 

Executive Director, Alexander Stedtfeld, said the total trade would hit the above 11 billion mark by 2016, driven by trade in manufactured products.

He said german imports from Malaysia were the highest ever in 2014 at 6.1 billion while exports to this country were 14.8 billion.

"Currently, the trade surplus is in Malaysia's favour. Following a steady growth trend, German exports to Malaysia should do better in 2015 and the total trade could go above 11 billion next year," he said after presenting results of the ASEAN Business Climate Survey 2015 here on Wednesday.

Steadtfeld said the survey showed that overall, German businesses were positive on the economic outlook in ASEAN.

"In the run-up to the ASEAN Economic Community 2015, German businesses, including the small- and medium-sized enterprises (SMEs), are increasing their engagement in the region, he said. 

On perception of companies based in Malaysia, Stedtfeld said in general, the survey found that German companies were mostly satisfied with the economic situation in the country.

"As a business chamber, we meet German companies every month in Kuala Lumpur and Penang we receive mainly positive. So we are not worry about the future of our companies here and the future of Malaysia, he said.- Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

CPO futures seen trending higher next week on expectation of stronger exports
Wall St Week Ahead-Soft landing hopes for US economy brighten outlook on stocks
India's palm oil imports fall in July as soyoil jumps to record high
Scarcity changes the LME warehousing game in Malaysia and elsewhere
Wide-body jet demand humming again as Boeing 787 rejoins the fray
Oil price falls 2% on expectations that US Gulf supply disruption will ease
GLOBAL MARKETS-Global stocks rise, U.S. yields fall as inflation slows
NYT targeted by activist investor pushing for subscriber-only bundles
‘Hopeless’: Chinese homebuyers run out of patience with developers
Steady retail outlook

Others Also Read