Slower export growth as trade war bites

Import slowdown: Malaysia is likely to see a greater slowdown in the import quantum compared with exports this year. — Bloomberg

THE escalating trade war between the United States and China is bad news for global trade.

The government, in its economic outlook for 2018, has projected exports from Malaysia to expand 4.4% to RM976.45bil. Next year, the growth rate is expected to taper down to 3.9%. This is much lower than the previous year’s growth of 18.8%.