Malaysia Automotive Parts Exports Forecast To Grow To MYR13.03 Bln This Year-Govt Body

© Nikkei Markets

KUALA LUMPUR (Jan 18) — Malaysia’s exports of automotive parts are forecast to grow to 13.03 billion ringgit ($3.17 billion) this year after rising 4.3% to 12.1 billion ringgit in 2018, a government agency said Friday.

Exports of automotive parts and components have grown consistently from 4.7 billion ringgit in 2014 and remain on the uptrend, said Madani Sahari, chief executive of Malaysia Automotive Robotics and IoT Institute.

The export value of completely built units is also forecast to grow to 2.5 billion ringgit this year from 2.08 billion ringgit in 2018, Madani said. The automotive industry accounts for about 4.2% of Malaysia’s GDP in 2018, he added. 

– By Gan Pei Ling
– Edited By Abhrajit Gangopadhyay

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