Page 21 - KLSCCCI Nov 2021 - eBulletin 401

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Domestic demand External Sector Trade Performance

continues to support growth Gross exports are projected to increase
by 17.1% in 2021 attributed to strong
Domestic Demand external demand as economic activities
normalise, in tandem with accelerated
global vaccine rollouts, particularly
Following the rapid progress of the nation's vaccination among major economies.
programme, economic activities in 2022 are anticipated
to return to the pre-pandemic level. All expenditure Exports of manufactured goods are
items are projected to register positive growth. estimated to expand by 17.8% due to
higher demand for E&E and non-E&E
products by respective 12.8% and 22%.
The increase in E&E exports is driven
by the upward global trend for
Operating expenditure (OE) digitalisation and technology
upcycle, including semiconductors,
Allowance and Social Welfare 5.8％ Fund Allocation for State telecommunication equipment parts
and electronic machines apparatus.
Others 8％ Government Exports of non-E&E products, particularly
2.4％
Economy Affair 12.1％ Retirement rubber products, are expected to rise
in 2021, following rising global demand
Society 5.7％ Pension for PPE, specifically rubber gloves.
8.6％
Similarly, exports of agriculture goods
National Defence are estimated to expand by 18.7%,
2.4％ Supplies and buoyed by palm oil and palm
Services oil-based agriculture products as well
General Expenses 10.2％ as natural rubber.
1.2％

The finance and insurance
subsector is projected to
COVID-19 Fund Interest Charges grow by 5.5%, mainly backed
5.3％ 12.1％ by the finance segment,
Salary of Government Servant following the continued
economic recovery and
26.2％ resumption of investment
Development expenditure (DE) activities.
Expenses The manufacturing sector is
expected to expand by 4.7%
Development expenditure (DE) in 2022, attributed to the

Salary of Government Servant 26％ steady performance of both
export and domestic
General Expenses 1.2％ oriented industries.
National Defence 2.7％ COVID-19 Fund The agriculture sector is
6.9％ forecast to expand by 3.9%,
Society 6.8％ mainly supported by the
commodity segment.
Economy Affair
12.1％ The mining sector is forecast
to decline marginally by
0.3%, due to lower crude oil
Others 6.1％ and condensates
production, following the
Allowance and scheduled shutdown of oil
Social Welfare and gas plants and facilities
5.2％ for maintenance.

Fund Allocation for Interest Charges 13％ The construction sector is
State Government projected to turn around by
2.4％ Supplies and Services 9.1％ 11.5% in 2022 on account of
better performance in all its
Retirement Pension 8.5％ Operating expenditure (OE) subsectors.

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