NEW DELHI, July 28 (NNN-BERNAMA) — Malaysia’s trade with India declined 25.1 per cent in the first six months of this year as exports to the South Asian nation plummeted.
Malaysia’s exports to India fell by 42.4 per cent year-on-year (y-o-y) to US$2.68 billion (RM11.4 billion, US$1 = RM4.25) from January to June 2020 (H1 2020), according to Malaysian trade figures.
However, imports from India in H1 2020 rose 5.8 per cent y-o-y to RM11.68 billion.
Malaysia’s overall exports to South Asian countries until June this year declined by 34.2 per cent y-o-y to about RM18.7 billion.
The country’s exports to Pakistan jumped 16.4 per cent y-o-y to about RM2.4 billion, while imports grew by 20.3 per cent y-o-y to about RM587 million.
Meanwhile, exports to Bangladesh declined by 38.1 per cent y-o-y to RM2.8 billion and imports from the nation dropped 13.1 per cent y-o-y to RM410.4 million.
According to Malaysia’s Ministry of International Trade and Industry, Malaysia’s total external trade for H1 2020 amounted to RM833.36 billion, a seven per cent contraction y-o-y.
