Bilateral trade between Malaysia and China hit RM170.6 billion in the first nine months of the year, up 1.3% when compared with the same period a year ago.
Second Deputy Finance Minister Lee Chee Leong said of this figure, finished products contributed RM154.7 billion, followed by agricultural products (RM9.2 billion) and minerals (RM6 billion).
“For the same period, Malaysia’s imports from China rose 9.1 per cent year-on-year (y-o-y) to reach RM102.7 billion,” he added.
Exports, however, dropped 8.5 per cent y-o-y to RM67.9 billion.
Lee attributed this to weakened exports in electrical and electronic products, as well as lower demand for commodities such as palm oil, liquefied natural gas and natural rubber, due to a slowdown in growth of the world’s second largest economy.
He said this while delivering his opening remarks at the China (Dezhou)- Malaysia Economic Trade and Investment Corporation Seminar here, today.