Worse may be over for exports: RHB

Exports slightly improved in January but it will decline in the first half of 2023.

With the momentum for exports improving, RHB said the “worst may be over” with some bumps expected in the first half of 2023.

In a brokerage report, the analyst said the numbers inched up despite seasonal lull brought about by the Lunar New Year.

The exports will shrink in the first half due to global political conflict but it may recover through sequential growth in the second half.

Despite a decline in January NODX, NODX momentum is improving in the EU, Thailand, Malaysia, and China. However, yearly levels have declined in all key markets except the EU and Japan.

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non-oil domestic exports (NODX)

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