Tag Archives: Malaysia Economy
The petrochemical and chemical industry is the second largest contributor to our total exports. For the period of January to May 2009, exports of petroleum products amounted to RM997.4 million, while imports reached RM381.6 million. For the chemicals and chemical product sub-sector, imports and exports totaled RM12.7 billion and RM12.3 billion respectively. During the first five months of 2009, total investments in petroleum products (including petrochemicals) totalled RM1.1 billion, while that for chemical and chemical products amounted to RM1.5 billion.
The pharmaceutical industry, which is mostly dominated by SMEs, saw an increasing demand trend in the domestic market. The pharmaceutical industry productivity in 2008 grew by 11.6 per cent, while sales value expanded by 11 per cent to RM1.4 billion in 2008. This increase is due to demand from the domestic market, arising from better health awareness and ageing population.
Manufacturers must continue to expand and upgrade their... Read More
ASEAN-wide: 98.94 per cent of all products have been placed in the Inclusion List (IL) of the CEPT Scheme for AFTA. Of which 97.15 per cent are at 0-5 per cent. Average tariff in 2009 is 1.65 per cent (1.95 per cent in 2008). For ASEAN-6: 99.40 per cent of all their products are in the Inclusion List (IL), of which 99.71 per cent are at duty of 0-5 per cent. Average tariff is 0.79 per cent in 2008 (1.32 per cent in 2007).
For CLMV: 98.31 per cent of all their products are in the IL, of which 93.15 per cent are at duty of 0-5 per cent. Average tariff is 3.00 per cent in 2009 (3.69 per cent in 2008).