Malaysia-China total trade up by 5.9% y-o-y in Jan-April 2024

BEIJING — Malayia’s total trade with China expanded by 5.9 per cent year-on-year (y-o-y) to RM151.06 billion in the first four months of this year (4M2024) compared to the same period last year.

The country’s exports to China were recorded at RM58.6 billion, with electrical and electronics (E&E) products being the biggest share of exports at 40.5 per cent, said Malaysia’s Ambassador to China, Datuk Norman Muhamad.

At the same time, Malaysia’s imports from China rose by 11.6 per cent y-o-y in 4M2024 to RM92.46 billion, mainly comprising E&E products, machinery, equipment and parts, as well as chemicals and chemical products.

He noted that last year, Malaysia’s total trade with China — the nation’s largest trading partner for 15 consecutive years — had declined by 7.3 per cent to RM450.84 billion.

“In 2023, exports to China contributed 13.5 per cent to Malaysia’s total exports at RM192.21 billion — the highest value thus far, supported by strong exports of E&E products, chemicals and chemical products and liquefied natural gas (LNG).

“Major exports were E&E products (RM76.68 billion) which accounted for 39.9 per cent of total exports to China, followed by chemicals and chemical products (RM18.60 billion), LNG (RM15.44 billion), and manufactures of metal (RM12.82 billion),” said Norman.

Speaking to reporters at a press conference here today, he highlighted that tourist arrivals from China had jumped by 217 per cent in 4M2024 compared to 4M2023.

“An estimated 270,000 tourists from China visit the country each month, making Malaysia one of the top three preferred travel destinations for Chinese citizens,” he said.

As such, the ambassador suggested Malaysian airlines to explore the potential for new routes, especially to secondary cities in China, to further stimulate the tourism sector between the two countries.

“Many Chinese tourists prefer visiting Kota Kinabalu in Sabah, Penang, Melaka, Kuala Lumpur and Sarawak due to the unique attractions in these states, which are rarely found in China, particularly water sports activities and the unique local culture,” he added. — BERNAMA / pic TMR FILE