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Malaysia-China trade climbs 6pc to US$131.16 billion in 2020
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Posttime:2021-02-19
Trade between Malaysia and China has reached a new high in 2020 after climbing US$131.16 billion, showing an increase of six per cent, despite the Covid crisis, reports Netherland's Fresh Plaza.
The increase began with Malaysians coming together by sending personal protective equipment and their moral support to the Chinese in their battle against the Covid crisis at the start of 2020.
China remains Malaysia's largest trading partner for the 12th consecutive year, as Malaysia became the nation's second largest trading partner in the Association of Southeast Asian Nations (ASEAN) after Vietnam.
China is also Malaysia's largest export destination, with exports expanding four per cent to $74.21 billion. Vice-versa it was Malaysia's largest import source, seeing $56.10 billion.
source:Schednet
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