KUALA LUMPUR, May 16 — The country’s mechanical and electrical (M&E) exports is growing steadily and projected to reach RM43 billion in 2020, said Deputy International Trade and Industry Minister (MITI) Dr Ong Kian Meng.
Malaysia’s export in the sector he said, has grown steadily in the last seven years with a compound annual growth rate of 4.11 per cent.
Last year, the M&E industry registered RM40.6 billion of total exports against RM73.6 billion in total imports with specialise and general machinery and equipment were the major contributors, he said.
Major exports destinations included Singapore, the United States and Japan.
“This is one sector that our imports is more than export due to the advancement of technologies from, hence the need to step up the export,” told reporters after the launch of Metaltech 2019, here today.
