05.06.2020 (The Borneo Post) - KUCHING: Malaysia’s trade with China, which represented 19.7 per cent of the total trade or RM26.25 billion, decreased marginally by 1.5 per cent year-on-year (y-o-y) in April this year, said Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.

“Exports to China rebounded by 4.2 per cent to RM12.07 billion, compared to a 6.1 per cent decline in March 2020,” he said in a statement yesterday.

Azmin Ali said expansion in exports was recorded for iron and steel products, other manufactures (SSD), electronic and electrical (E&E) products and crude petroleum.

Imports from China decreased by 6 per cent to RM14.18 billion, he added.

“On a month-on-month (m-o-m) basis, trade, exports and imports expanded by 5.5 per cent, 10.1 per cent and 1.8 per cent, respectively,” he said.

Trade with China for the first four months of 2020 stood at RM96.73 billion, declined by 2 per cent compared to the same period of 2019.

Exports to China increased by 0.2 per cent to RM42.87 billion, buoyed by higher exports of iron and steel products, other manufactures (SSD), manufactures of metal as well as optical and scientific equipment.

Imports from China slipped by 3.7 per cent to RM53.86 billion, he said.

“Trade with the US in April 2020 which constituted 8 per cent of Malaysia’s total trade decreased by 19.6 per cent y-o-y to RM10.67 billion.

“Exports to the US declined by 31.1 per cent to RM5.31 billion, dragged down by lower exports of E&E products as well as optical and scientific equipment.

“Higher exports, however, was recorded for commodity-based products notably, rubber products as well as palm oil and palm oil-based products which collectively contributed RM1.08 billion of Malaysia’s exports to the US.

“Exports of palm oil and palm oil-based products to the US in April 2020 registered the fastest growth in 106 months. Imports from the US was down by 3.5 per cent to RM5.36 billion,” he pointed out.

In comparison with March 2020, Azmin Ali said trade, exports and imports were lower by 17.1 per cent, 27.7 per cent and three per cent, respectively.

https://www.theborneopost.com/2020/06/05/slight-decrease-in-exports-to-china/