Malaysia-China trade up by 5.9% YoY in Jan-April ’24

Malaysia’s trade with China, its top partner for 15 years running, shows early signs of recovery in 2024 with a 5.9 per cent year-on-year increase to RM151.06 billion in the first four months, Malay Mail reported on Thursday.

Malaysia’s exports to China during the period witnessed a significant growth of 40.5 per cent, reaching RM58.6 billion. Electrical and electronics (E&E) products emerged as the top export category, accounting for a substantial 40.5 per cent share.

Meanwhile, imports from China also rose by 11.6 per cent year-on-year to RM92.46 billion in first four months in 2024. E&E products were the top import category, followed by machinery, equipment, parts, and chemicals.

It’s worth noting that in 2023, Malaysia’s total trade with China fell by 7.3 per cent to RM450.84 billion. However, the positive growth observed in the first four months of 2024 suggests a potential rebound in the bilateral trade relationship.