Bilateral trade between Malaysia and Africa is expected to grow 4-5% this year, according to the Malaysia External Trade Development Corp (Matrade).
CEO of Matrade, Datuk Dzulkifli Mahmud, was cited by Malaysian daily newspaper, The Star Online, as saying he was confident that the growth could be achieved given that the two-way trade between both countries had been growing at a gradual pace over the previous years.
In the first 11 months of 2015, Malaysia’s trade with Africa rose by 3.2%. Malaysia’s exports to Africa grew by 6.7% in 2015, according to Mahmud.
Palm oil and palm-based products reportedly accounted for the biggest export share at 32.2% of total exports to Africa for the January-November 2015 period, followed by petroleum products (24.4%), chemical and chemical products (7.4%), and processed food (7.1%).
