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The transportation account of the Balance of Payment recorded a
significantly larger net outflow of RM17.8 billion in 2004 compared with a
deficit of RM13.3 billion in 2003.
The deficit is forecasted to be widened further to RM19.3 billion in 2005.
The inflow of the transportation account has grown by 14.3 per cent to RM12
billion in 2004 compared with inflow of transport account totaling RM10.51
billion in 2003.
The higher gross receives is due to the improved earnings from cargo and
passenger services provided by major domestic shipping companies and
airlines.
Capacity expansion by shipping companies and airlines as well as an increase
in transshipment cargo contributed to higher earnings said the 2005 Bank
Negara Report.
However, the outflow of transportation account is much greater due to the
high dependence of the foreign services in the transportation sector. |
