Key Highlights:
In 2023, Malaysia exported goods worth US$312.7 billion, a substantial rise over prior years.
Malaysia's top exports are electrical and electronic products (E&E Products), petroleum products, LNG, palm oil, machinery and equipment, iron and steel products, rubber and rubber articles etc.
Malaysia's biggest export partners are Singapore, China, the United States, Japan, Hong Kong, Vietnam, Indonesia, etc. Singapore is Malaysia's largest export destination.
Malaysia's exports rebounded in January 2024 with a double-digit growth, following a year-on-year decline. In February 2024, exports rose by 8.7% to RM122.43.
Malaysia, a Southeast Asian country famous for its beautiful rainforests, vibrant culture, and historical landmarks, is also a major player in international trade. Malaysia's economy relies on the global trade of a diverse range of goods, thanks to its robust export sector. Also, Malaysia export items contribute significantly to its economy.
Some of the significant export products that support Malaysia's economy include E&E Products, Petroleum Products, LNG, Palm oil, etc. But what are the top exports that drive Malaysia's trading success? grab up as we look into the intriguing world of Malaysian exports, exploring the top 10 exports from Malaysia, along with Malaysia export data and Malaysia's biggest export partners.
Are you looking for top exports from Malaysia? Malaysia export market? You are at the right place, let’s uncover the Malaysia export data.
Based on Malaysia trade data, Malaysia's trade in January 2024 rebounded with a double-digit increase of 13.3% to RM234.73 billion, following the tenth straight month of year-on-year decrease. According to Malaysia export data, exports increased by 8.7% to RM122.43 billion in February 2024.
|
Year |
Exports from malaysia (US$ Billion) |
|
2019 |
238.2 |
|
2022 |
353.1 |
|
2023 |
312.7 |
Malaysia, which is made up of two similar-sized landmasses in Southeast Asia, Peninsular Malaysia and East Malaysia, exported US$312.7 billion worth of goods worldwide in 2023. That figure represents a 31.3% increase from $238.2 billion five years ago in 2019.
As per exports from malaysia data, Malaysian exports fell -11.5% year on year, from $353.1 billion in 2022. According to the average exchange rate for 2023, the Malaysian ringgit has declined by -10.1% versus the US dollar since 2019 and -3.6% between 2022 and 2023. Malaysia's weaker local currency made exports paid for in stronger US dollars more affordable for overseas purchasers.
Malaysia relies on a robust global network to meet its import requirements. Here is a breakdown of Malaysia's top 10 export partners.
Singapore(14.2%)
China(12.0%)
USA(11.6%)
Japan(6.9%)
Hong Kong(4.9%)
Vietnam(4.6%)
Indonesia(4.2%)
Taiwan ROC(3.9%)
Thailand(3.8%)
Australia(3.7%)
Others(30.2%)
While Malaysia has a varied set of export partners, its commercial environment is primarily impacted by its immediate neighbors. Singapore is the top destination for Malaysian exports, followed by regional powerhouses China and the United States.
This emphasizes the importance of Southeast Asia's economic integration, as well as Malaysia's close linkages to major global economies. The remaining slots feature a mix of Asian and developed economies, highlighting Malaysia's key role in the global trade network. Also, if you require updated industry insights, such as top exports from Malaysia malaysia export data, connect with Eximpedia for data on exports from Malaysia.
Now, look at the major exports of malaysia!
Let’s explore the table for Malaysia's major export!
|
S. No |
Top 10 Exports from Malaysia |
Malaysia export data |
|
1 |
E&E Products |
35.9% |
|
2 |
Petroleum Products |
10.8% |
|
3 |
LNG |
5.3% |
|
4 |
Palm Oil |
4.7% |
|
5 |
Machinery and Equipments |
4.6% |
|
6 |
Iron & Steel Products |
2.9% |
|
7 |
Rubber, rubber articles |
1.8% |
|
8 |
Optical, technical, medical apparatus: |
4.4% |
|
9 |
Chemical Products |
1.8% |
|
10 |
Aluminum |
1.9% |
So, these are the major exports of malaysia. Do you want an updated list of malaysia export products? Connect to our user friendly dashboard.
According to Malaysia export data, these are major exports of malaysia:
The E&E Products considered as the biggest exports from malaysia. It includes a broad range of export products, including:
Semiconductors are essential for computers, smartphones, and other electrical gadgets. Malaysia, as a major assembly and packaging hub, is critical to the worldwide semiconductor supply chain.
Integrated Circuits (ICs): These tiny chips serve as the brains of electronic gadgets, performing specialized functions and being critical for a variety of functionality.
Printed circuit boards (PCBs) are the building blocks of electronic devices, holding and connecting numerous electrical components. As technology advances, the demand for complex, high-density printed circuit boards is likely to increase.
Petroleum products are considered as the second major exports of malaysia. However, Malaysia exports crude oil but imports refined products such as:
Gasoline: Petrol is used to fuel vehicles and transportation. As Malaysia seeks cleaner energy alternatives, the future may see a shift towards alternative fuels.
Diesel: Diesel is essential for powering trucks, heavy machinery, and industrial generators. The rise of electric vehicles may cause a gradual drop in diesel imports.
Fuel Oil: Fuel oil is used to heat industrial boilers and generate electricity. The rising emphasis on renewable energy could have an impact on future fuel oil demand.
LNG imports contribute significantly to Malaysia's energy demands for power generation and industrial activities.
Power Generation: LNG is used to feed gas turbines that generate electricity, delivering a stable and reliable power supply for households and industry.
Industrial Processes: Some sectors, such as petrochemicals and steel production, use LNG as a clean and efficient energy source.
Palm oil is also one of the top exports from Malaysia. Although Malaysia exports a substantial amount of raw palm oil, it imports some processed products, such as
Palm Fatty Acid Distillates: (PFADs) are used in the manufacture of soaps, detergents, and other personal care products.
Palm olein: It is a versatile oil used in a variety of applications, including food processing, cosmetics, and biofuels.
This category involves a wide range of equipment for many industries:
Manufacturing Machinery: This category contains machines for specialized industries such as automotive, electronics, and textiles, which serve Malaysia's increasing manufacturing sector.
Construction Machinery: Bulldozers, excavators, and cranes are crucial for infrastructure development and construction projects.
Iron & steel products are used in construction (beams, rods), infrastructure (bridges), and manufacture (automobiles, appliances). The future may see an increase in demand for high-strength, lightweight steel goods.
Rubber and rubber articles are also known as the major exports of malaysia. Despite being a big producer, Malaysia imports specialized rubber products like as
Medical-grade latex: Medical-grade latex is used for gloves and other medical equipment that require high purity and flexibility.
Technical rubber products: It include seals, gaskets, and hoses used in a variety of industrial applications that require specific qualities such as heat or oil resistance.
This category includes:
Medical devices: Medical devices include imaging equipment (X-rays, MRIs), surgical instruments, and prostheses, which are essential for sophisticated healthcare services.
Scientific instruments: include microscopes, spectrometers, and other laboratory equipment used for study and development in a variety of subjects.
Optical equipment: includes telescopes, binoculars, and lenses used in scientific research, defense purposes, and consumer devices such as cameras.
Chemical products are also one of the major exports of Malaysia. However, chemical imports are likely to comprise raw materials, industrial chemicals, and speciality chemicals used for a variety of manufacturing processes across industries.
Petrochemicals: Petrochemicals are the building blocks for many polymers, synthetic fibres, and other industrial products.
Fertilizers: Fertilizers are essential for increasing agricultural output and guaranteeing food security
Aluminum imports meet the needs of a variety of industries, including building, transportation, and packaging, which use aluminum for its lightweight and robust features.
Construction: Construction includes lightweight roofing sheets, cladding materials, and window frames.
Transportation: Aluminum is used in car bodies, airplane parts, and ship components due to its strength and weight-saving characteristics.
Packaging: Aluminum cans and foils are a sustainable and lightweight choice for food and beverage packaging.
Top 15 Products Imported from China to India
Look into India Top 10 Exports 2024: Trends and Opportunities
Comprehensive Guide for India Top 10 Imports Products
If you require an updated list of Malaysia's largest importers, you must first understand the complexities of international trade.
Singapore, as a vast market, may be a viable destination for Malaysia's top export products. To successfully export commodities in Malaysia, businesses must follow trade rules, understand market trends and HS codes, and be aware of the top exports from malaysia.
To obtain the correct Malaysia exporters or importers list, businesses must seek out accurate and up-to-date Malaysia export data or major exports of Malaysia from the best import export data provider, like Eximpedia.app.
As we come to the bottom of this blog, we'd like to highlight that Malaysia is a rising nation with rapid expansion in trade and major malaysia export products. Thus, exports from Malaysia signify a complete picture of the country's economic situation and global trade dynamics.
Each of Malaysia's major exports not only indicates Malaysia's economic capabilities but also the country's growing industrial environment and adaptability to global economic conditions.
Feel free to contact Eximpedia.app with any questions about HS codes, Malaysia export data, or the list of major exports of Malaysia. Our data experts will guide you to the best of their knowledge and experience. To schedule a free live demo, click here.
Frequently Ask Question (FAQ's)
As per Malaysia export data, the top 10 export products are:
E&E Products
Petroleum Products
LNG
Palm Oil
Machinery and Equipments
Iron & Steel Products
Rubber, rubber articles
Optical, technical, medical apparatus:
Chemical Products
Aluminum
The top Products Imported from Malaysia to India:
Petroleum oil.
Copper wire.
Cyclic hydrocarbons.
Palm oil.
Sapwood.
Telephone sets.
According to malaysia import data, the top Import products are:
Mineral Fuels, Oils, Distillation Products.
Machinery, Nuclear Reactors, Boilers.
Plastics.
Malaysia is the world king in rubber production and is among the top producers of cocoa, palm oil, tropical hardwoods, pepper, and tin.
According to malaysia exporters data, the major export partners are: Singapore(14.2%), China(12.0%), USA(11.6%), Japan(6.9%) and Hong Kong(4.9%)
This ratio illustrates the importance exports are to the Malaysian economy. In this situation, Malaysia's exports of goods and services account for around 68.84% of its GDP.
See all that you can accomplish with Eximpedia
