33 Spurring Exports In The New Norm Trade Performance Report 01 02 03 04 05 Hong Kong SAR, which was Malaysia's sixth largest trading partner, with a total trade value of RM82.36 billion, increased by 2.1%. Trade with this country accounted for 4.6% of Malaysia's total trade. Hong Kong SAR remained as Malaysia’s fourth largest export market with a value of RM68.17 billion, expanded by 2.3% compared to 2019. This increase was mainly attributed to higher exports of E&E products, processed food as well as optical and scientific equipment. Main exports to Hong Kong SAR were E&E products with 84.4% share, other manufactures (mainly SSD) (4.6%) and petroleum products (1.8%). Imports from Hong Kong SAR rose marginally by 0.9% to RM14.2 billion. Main imports were E&E products, optical and scientific equipment as well as machinery, equipment and parts. Meanwhile, the ROK was Malaysia's seventh largest trading partner with a total trade of RM80.83 billion (4.5% share), grew by 10.6% compared to last year. Exports to the ROK recorded a growth of 1.4% to RM34.71 billion and was Malaysia’s seventh largest export market. This was due to higher exports of E&E products, crude petroleum and petroleum products. Main exports were E&E products with 39.2% share, LNG (17.9%) and manufactures of metal (5.5%). Imports from the ROK increased by 18.8% to RM46.11 billion. Main imports were E&E products, transport equipment as well as petroleum products. Taiwan was Malaysia's fifth largest trading partner and accounted for 5.2% of Malaysia's total trade. Total trade with Taiwan amounted to RM91.91 billion, 2.3% lower than the previous year. Taiwan also remained as Malaysia’s eighth largest export market in 2020. Exports to Taiwan slipped by 8.5% to RM33.87 billion due to the decline in exports of LNG, iron and steel products as well as chemicals and chemical products. Main exports were E&E products with 56.9% share, optical and scientific equipment (12.1%) as well as manufactures of metal (3.9%). Imports from Taiwan increased by 1.7% to RM58.03 billion. Main imports were E&E products, chemicals and chemical products as well as iron and steel products. Exports to Taiwan RM33.87 billion 8.5% Major Exports to Taiwan E&E Products Manufactures of Metal Optical & Scientific Equipment Exports to ROK RM34.71 billion 1.4% Major Exports to ROK E&E Products Manufactures of Metal LNG Exports to Hong Kong SAR RM68.17 billion 2.3% Major Exports to Hong Kong SAR E&E Products Petroleum Products Other Manufactures
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