MALAYSIA’S trade could rebound in the second quarter of this year following a drop at the start of 2020 due to the Wuhan virus that shut down most of China – the country’s biggest trading partner.

Deputy International Trade and Industry Minister Dr Ong Kian Ming said the rebound depends on how soon the public health situation in China stabilises.

“If we have more certainty in the next couple of weeks in terms of the spread of this virus, then we hope to see a V-shaped rebound. Not just by China but also by other countries that do business with China. 

“After trade goes down in February and March, once things get back to normal, we hope to see a rebound in terms of numbers in the second quarter of this year,” Ong told the media today after presenting trade figures from 2019.

“So we don’t think we should just panic yet,” Ong said, referring to concerns of how the pandemic will impact on overall trade in 2020. 

China has been Malaysia’s largest trading partner for the past 11 years, making up 17.2% of total trade. – February 4, 2020.

MORE TO COME