According to the MoIT, the first quarter of 2020 saw the country's merchandise exports reach US$59.08 billion, up 0.5% in comparison to the 5.2% figure recorded during the same period last year - the lowest level of growth since 2003. However, it is expected when Covid-19 is contained by Q2, exports will bounce back and the 7-8 percent export growth rate in 2020 will be within reach.