Source Title: China became Malaysia’s largest trading partner for the 12th consecutive year
On January 30 local time, data released by Malaysia’s Ministry of international trade and industry showed that Malaysia’s total trade volume fell in 2020, but its trade with China maintained a growth momentum, and China became Malaysia’s largest trading partner for the 12th consecutive year.
Malaysia’s minister of international trade and industry, azmin Ali, said in a statement on the 30th that despite the unprecedented global situation, Malaysia’s foreign trade still performed well and its exports rebounded from the negative growth in the first half of the year in the second half of the year. In particular, in 2020, the export to China increased by 12.5% to 158.6 billion ringgit (about 256.3 billion yuan), which is the highest in history so far. The export to China accounts for 16.2% of Malaysia’s total export.
Malaysia’s exports to China increased in the following areas: Iron and steel industry, electronic and electrical products, metal products, palm oil and its products, rubber products, paper and pulp, etc. Malaysia mainly imports electrical and electronic products, machinery, equipment and parts, as well as chemical and chemical products from China.