Mustapa: Malaysia's total trade expected to increase by two percent

The country’s total trade is expected to rise by two percent in 2016 despite the challenging economic status.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the growth is supported by trades in the ASEAN market.

He said ASEAN is the largest trade region which contributes to Malaysia’s total trade.

“This year the (economic status) is still challenging. We expect it to be around two percent,” said Mustapa.

Malaysia’s total trade for the year 2015 has increased by 1.2 percent to RM1.466 trillion with exports increasing by 1.9 percent.

The trade surplus however, increased by 14 percent.

“We have enjoyed a trade surplus for years. Last year there was an increase of 14 percent and this is a very encouraging development.

“We hope to maintain this (momentum). We also managed to increase exports during this challenging economic situation and in increasing the trade surplus,” said Mustapa after the launch of Generation of New Exporters (GenEX) here today.

Mustapa added that the government is planning to increase the number of Bumiputera entrepreneurs through a programme under Generasi Muda Berjaya.