38 MATRADE Annual Report 2020 In 2020, trade with Oceania which represented 3% of Malaysia's total trade recorded a decrease of 15.1% to RM53.59 billion compared to 2019. Australia was Malaysia's largest trading partner in Oceania, with a share of 82.2%, followed by New Zealand (12.9%) and Papua New Guinea (3.5%). Exports to the region declined by 16.4% to RM29.83 billion, due to lower exports of crude petroleum, petroleum products and E&E products. Major export products were crude petroleum, which accounted for 20.1% of Malaysia's total exports to Oceania, followed by petroleum products (15.1%) and E&E products (14.3%). Imports from Oceania dropped by 13.3% to RM23.75 billion. Main imports were LNG, metalliferous ores and metal scrap as well as processed food. Australia was also Malaysia's largest export market in the region, accounting for 81.7% share or RM24.36 billion, a drop of 14.4% due to a decline in exports of crude petroleum, E&E products as well as petroleum products. Major export products to Australia were crude petroleum (20.8% share), petroleum products (16.8%) and E&E products (15.2%). Imports from Australia contracted by 15.6% to RM19.69 billion. Main imports were LNG, metalliferous ores and metal scrap as well as manufactures of metal. Australia New Zealand Papua New Guinea Imports RM23.75 billion 13.3% Total Trade RM53.59 billion 15.1% Exports RM29.83 billion 16.4% Main Exports E&E Products Petroleum Products Crude Petroleum Major Trading Partners Oceania
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