Malaysia’s export performance is expected to continue improving in the coming months, following a slower contraction registered in October, in tandem with the bottoming out of semiconductor shipments. According to AmBank Research senior economist Azri Azhar, with the anticipated improvement, exports would likely return to the positive territory by early next year.
“Exports are expected to recover by early 2024 on the assumption that the global technology cycle has bottomed while tapering inflationary pressures among major economies implies that monetary policy tightening by major central banks is at the tail-end,” he said. “The Nasdaq PHLX Semiconductor index, which correlates with exports growth, suggests that the semiconductor industry hit its low point at the end of the first half of 2023 and has since embarked on a recovery path, offering positive signs for 2024. “A similar trend is seen in the World Semiconductor Trade Statistics (WSTS), where semiconductor net billings have posted positive growth in September 2023, after declining since mid-2022,” Azri adde
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