30 MATRADE Annual Report 2020 ASEAN In 2020, trade with ASEAN contracted by 8.9% to RM447.84 billion, accounting for 25.1% of Malaysia’s total trade. Five of Malaysia's top 20 trading partners were ASEAN countries namely Singapore (second), Thailand (eighth), Indonesia (ninth), Viet Nam (11th) and the Philippines (15th). Exports to ASEAN recorded a decrease of 4.7% to RM272.98 billion and contributed 27.7% to Malaysia’s total exports. The decline was due to lower exports to Thailand, Viet Nam, Indonesia, Cambodia and the Philippines. However, exports to Singapore, Brunei, Myanmar and Lao PDR registered increases. Products that recorded higher exports to ASEAN were E&E products, transport equipment and other manufactures (mainly SSD). Meanwhile, main exports were E&E products with 38% share, petroleum products (12%) as well as chemicals and chemical products (7.2%). Imports from ASEAN decreased by 14.7% to RM174.86 billion. Main imports were E&E products, petroleum products as well as chemicals and chemical products. Singapore was the major export market and accounted for 52.1% of total exports to the region. This was followed by Thailand (16.6%), Viet Nam (11.3%), Indonesia (10.8%), the Philippines (6.4%), Myanmar (1.1%), Brunei (1%), Cambodia (0.5%) and Lao PDR (0.02%). Major export products to Singapore were E&E products with 49.1% share, petroleum products (13.9%) as well as machinery, equipment and parts (6.3%). Exports to Singapore expanded by 3.7% to RM142.15 billion due to higher exports of E&E products, other manufactures (mainly SSD) and petroleum products. Imports from Singapore declined by 17.7% to RM73.68 billion. Main imports were E&E products, petroleum products as well as chemicals and chemical products. Major Export Market Singapore 52.1%* Thailand 16.6% Viet Nam 11.3% Indonesia 10.8% Philippines 6.4% Myanmar 1.1% Brunei 1% Cambodia 0.5% Lao PDR 0.02% Imports RM174.86 billion 14.7% Total Trade RM447.84 billion 8.9% Exports RM272.98 billion 4.7% Main Exports E&E Products Chemicals & Chemical Products Petroleum Products * Share to the region's total exports SUMMARY OF MARKET PERFORMANCE
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