32 MATRADE Annual Report 2020 Northeast Asia In 2020, total trade with Northeast Asia (excluding China) was valued at RM379.5 billion, a marginal increase of 0.5% compared to the previous year. Exports to this region recorded a decline of 2.3% to RM199.53 billion, while imports rose by 3.7% to RM179.97 billion. Malaysia's major trading partners in Northeast Asia (excluding China) were Japan, Taiwan, Hong Kong SAR and the ROK. These countries collectively contributed 53.4% to Malaysia's total trade to this region. Japan remained as Malaysia’s fourth largest trading partner, with a total trade value of RM124.14 billion, which declined by 4.2% in 2020. Trade with this country accounted for 7% of Malaysia's total trade. Japan remained as Malaysia’s fifth largest export market in 2020. Exports to Japan decreased by 5.2% to RM62.56 billion mainly due to lower exports of liquefied natural gas (LNG), wood products and manufactures of metal. Main exports were E&E products with 31.3% share, LNG (22.5%) as well as optical and scientific equipment (4.3%). Imports from Japan decreased by 3.2% to RM61.58 billion. Main imports were E&E products, machinery, equipment and parts as well as chemicals and chemical products. Major Trading Partners Japan Taiwan Hong Kong SAR ROK Exports to Japan RM62.56 billion 5.2% Major Exports to Japan E&E Products LNG Optical & Scientific Equipment Imports RM179.97 billion 3.7% Total Trade RM379.5 billion 0.5% Exports RM199.53 billion 2.3% (excluding China)
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