52 MATRADE Annual Report 2020 PERFORMANCE OF SERVICES SECTORS In 2020, Malaysia’s services total trade decreased by 33.8% to RM232.66 billion compared to 2019. Services sector was impacted by COVID-19 pandemic, notably the tourism related sector as a result of stringent lockdown measures imposed globally to contain the spread of the virus. Services Trade Performance services on physical inputs owned by others, construction, insurance and pension services, personal, cultural and recreational services, charges for the use of intellectual property as well as financial services. Exports dropped by 45.6% to RM92.61 billion. This was mainly due to lower exports of travel (↓84.7%), transport (↓37.1%) and other business services (↓7.7%). Increase in exports was recorded by telecommunications, computer and information services, manufacturing Trade RM232.66 billion 33.8% Exports RM92.61 billion 45.6% Imports RM140.06 billion 22.7% Trade Deficit RM47.45 billion
RkJQdWJsaXNoZXIy NjUyODU0