China has become Malaysia's largest trading partner for the 12th consecutive year

On January 30, local time, data released by the Ministry of International Trade and Industry of Malaysia showed that the country’s total trade volume in 2020 has declined, but trade with China has maintained a growth momentum. China has become Malaysia’s largest trading partner for the 12th consecutive year.

             Malaysian Minister of International Trade and Industry Azmin Ali issued a statement on the 30th, stating that despite the unprecedented situation in the global situation, Malaysia’s foreign trade still performed well, and exports rebounded from the negative growth in the first half of the year. In particular, exports to China in 2020 increased by 12.5%, reaching 158.6 billion ringgits (approximately 256.3 billion yuan), the highest value in history so far, and exports to China accounted for 16.2% of Malaysia’s total exports. .

             The areas where Malaysia’s exports to China have increased include: steel industry, electrical and electronic products, metal products, palm oil and its products, rubber products, and paper and pulp. Malaysia mainly imports electrical and electronic products, machinery, equipment and parts, and chemical and chemical products from China. (Headquarters reporter Xu Quanle)

Source: CCTV