Annual Report 2019

Sustaining Export Development Trade Performance Report // 39 SOUTH AMERICA Trade with South America rose by 1.0% to RM22.94 billion in 2019. Brazil was South America’s largest trading partner, valued at RM11.21 billion accounting for 48.8% share, followed by Argentina, RM4.97 billion (21.7%) and Venezuela, RM2.69 billion (11.7%). Brazil, Chile and Peru were Malaysia’s largest export markets in the region and accounted for 59.6% share, 11.9% and 8.2% respectively. Major export products to the region were E&E products, representing 23.5% share of total exports, followed by rubber products (17.9%) as well as chemicals and chemical products (8.1%). However, exports to South America recorded a decrease of 10.0% to RM6.14 billion due to lower exports of E&E products ( ↓ 26.7%), palm oil-based manufactured products ( ↓ 21.4%) as well as machinery, equipment and parts ( ↓ 22.8%). Total Trade with South America 1.0 % RM 22.94 billion Exports to South America 10.0 % RM 6.14 billion Imports from South America 5.7 % RM 16.80 billion Major Exports to South America Rubber Products E&E Products Chemicals & Chemical Products Imports from South America rose by 5.7% to RM16.80 billion. Main imports were metalliferous ores and metal scrap, crude petroleum and processed food. Brazil was the largest export market in South America, with a value of RM3.66 billion and contributed 59.6% to Malaysia’s total exports to South America. Major export products to Brazil were E&E products, which accounted for 29.7% share, followed by rubber products (18.4%) as well as chemicals and chemical products (8.1%). However, exports to Brazil declined by 0.2% due to lower exports of E&E products ( ↓ 27.9%), palm oil and palm oil-based agriculture products ( ↓ 17.8%) as well as processed food ( ↓ 18.9%). Imports from Brazil dropped by 4.9% to RM7.55 billion. Main imports were metalliferous ores and metal scrap, processed food and crude petroleum. SUMMARY OF MARKET PERFORMANCE