In 1997, China was the 33rd largest export market for Malaysian rubber, but the former has moved up to the top spot, currently becoming the 6th export hub for the latter.
According to Tan Sri Bernard Dompok, Minister of Plantation Industries and Commodities, back then, China had only 36 million yuan as its export value and has increased since then, valuing 1 billion yuan (about RM544.3mil) in 2011. Likewise, Malaysia’s import of rubber from China grew from 232 million yuan in 1997 to 1.8 billion in 2011.
Malaysia is amongst the world’s top suppliers of natural rubber and the the top supplier for rubber gloves, accounting for 60% of the global market share. (RJA)