Exchange rate variability and the export demand for Malaysia's semiconductors : an empirical study

Exports from Malaysia rose by 1.


Mineral fuels including oil was the fastest-growing among the top 10 export categories, up Close behind in second place was the The following types of Malaysian product shipments represent positive net exports or a trade balance surplus. Malaysia has highly positive net exports in the international trade of electronics including consumer electronic gadgets.

Below are exports from Malaysia that result in negative net exports or product trade balance deficits. Malaysia has highly negative net exports and therefore international trade deficits for cars, automobile parts, trucks, motorcycles and tractors. Seventeen Malaysian corporations rank among Forbes Global Below is a sample of the major Malaysian companies that Forbes included:. The following searchable table displays of the most in-demand goods shipped from Malaysia during Shown beside each product label is its total export value then the percentage increase or decrease since Accessed on August 13, Trade Map , International Trade Centre.

Investopedia, Net Exports Definition. This is something I had to explain a few times as well over the past couple of weeks, so again, committing this to writing. Analysts expect this along with the other spending plans in the manifesto to result in a sell down of the stock market, and a drop in the Ringgit. The immediate difference is obvious — GST is upfront and transparent to the consumer, while SST or at least the Sales tax part of it is not.

Since GST is in principle charged on consumption inside a country, it is not charged and not enforceable outside a country. That means we must pay GST on imports, but exports are unencumbered. In other words, the replacement of GST with SST is a de facto tax on exports, which increases their cost and reduces demand. All things equal, this reduces export receipts, which in turn causes a down rating of the stock market reduced earnings for exporters and export related sectors , an outflow of portfolio capital, and downward pressure on the Ringgit from both capital outflow and lower export receipts.

Economic growth will be a little slower as well. In practice, since neither the rates nor the positive schedule of the goods falling under the Sales tax have been disclosed, there is a further level of uncertainty over which sectors will be impacted, though the likelihood is that it would be similar to the old rates and schedule.

Regardless, that extra layer of uncertainty will cause financial markets to overshoot, even if the fundamental effect is relatively smaller. Keep up with articles. You have a loyal reader in me. However I just want point out that with regard to export disadvantage under SST, that is not entirely true. We have to consider that most almost all exported products under SST have their own scheme that exempt sales tax like free trade zone, free commercial zone, licenced manufacturing warehouse etc.

Essentially, goods produced there are earmarked for export and not taxed under Sales Tax unless ultimately sold in Malaysia. Service Tax was limited in scope compared to GST so not relevant.

I know hundreds of manufacturers who manipulated the scheme to "export" their product to singapore and later was resale back to malaysia end customer. Some even had singapore gst on it. Why complicate a good story with inconvenient truths?

D All joking aside, yes I'm aware the Sales Tax doesn't cover everything and there's plenty of exemptions, which is one reason why I wrote "positive schedule" in the second to last para.

The key point here is that as long as the schedule and exemptions aren't disclosed, I think the financial markets will assume that all goods are at risk of being under the Sales Tax, and act accordingly. Prior to its implementation, the GST model that was touted by the government 'experts' like Minister Mazlan! The model as explained seemed to be OK, so where did it all go downhill especially for the ruling coalition!

How far can we blame that on 'implementation' woes? Absolutely there were some abuses, but not as much as people think. Overall price increase was 1. The trouble was that food inflation remained high regardless, but higher food prices would have been the case regardless of whether GST was implemented or not.

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