The ringgit's split effect: exporters breathe, importers count costs

A softer currency can support exporters with foreign-currency revenue, but the gains narrow when inputs, machinery, or financing are priced abroad. The policy conversation often treats the ringgit as a single national scorecard; companies experience it as a margin calculation.

Import-heavy retailers and manufacturers are more exposed to pass-through costs. The question is how much can be absorbed before prices rise for consumers.

Sector-level data on import dependence would give a clearer picture than broad commentary on winners and losers.