Impact of US economic contraction on Malaysia

AmBank Group chief economist Anthony Dass however said that the impact would be “fairly cushioned” thanks to Malaysian exports’ regional diversification. “From a continental perspective, around 72% of Malaysia’s exports by value were delivered to Asian countries, while 11% were sold to North American importers. Malaysia shipped another 10% worth of goods to Europe. ”

PETALING JAYA: Malaysia’s trade performance in the upcoming months would be impacted negatively, experts warned after the country’s key trading partner, the United States, announced its steepest economic contraction since 2008 in the first quarter.

With the country accounting for 10.7% of Malaysia’s total exports in February this year, Affin Hwang Capital Research chief economist Alan Tan said economic disruptions in the former would affect the demand for Malaysian products and services.