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2023
Exports $2.69BWorld Rnk 27 / 226
Flag Rnk 15 / 96
2023
Destination $123M Singapore
2022 - 2023
FASTEST GROWING MARKET $123MQatar
2023
PRODUCT COMPLEXITY IN Iron or steel articles1.67Rnk 25 / 1025
2023
Imports $4.39BWorld Rnk 25 / 226
Flag Rnk 11 / 96
2023
Origin $146M China
2022 - 2023
FASTEST GROWING ORIGIN $146MChina
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $2.69B in Iron or steel articles, making it the 27th largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 15th most exported product in Malaysia. The main destination of Iron or steel articles exports from Malaysia are: Singapore ($755M), United States ($369M), Thailand ($287M), Australia ($178M), and Qatar ($129M).

The fastest growing export markets for Iron or steel articles of Malaysia between 2022 and 2023 were Qatar ($123M), Thailand ($92.3M), and Singapore ($47.5M).

Imports In 2023, Malaysia imported $4.39B in Iron or steel articles, becoming the 25th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 11th most imported product in Malaysia. Malaysia imports Iron or steel articles primarily from: China ($2.29B), Singapore ($614M), Japan ($285M), Germany ($178M), and United States ($139M).

The fastest growing import markets in Iron or steel articles for Malaysia between 2022 and 2023 were China ($146M), Singapore ($112M), and Brazil ($98M).

COMPANIES In 2023, leading companies such as SIGMA Corp (33), Motorola (26), and Apex Tool Group (10) were at the forefront of shipping Iron or steel articles from Malaysia to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Iron or steel articles exports accounted up to MYR919M and imports accounted up to MYR1.56B, resulting in a negative trade balance of MYR644M. Between November 2023 and November 2024 the exports of Malaysia's   Iron or steel articles have decreased by MYR-262M (-22.2%) from MYR1.18B to MYR919M, while imports increased by MYR117M (8.11%) from MYR1.45B to MYR1.56B.

Destinations In November 2024, Iron or steel articles were exported mostly to Singapore (MYR272M), United States (MYR174M), Thailand (MYR71M), Indonesia (MYR56.2M), and Australia (MYR46.5M), and were imported mostly from China (MYR692M), Singapore (MYR318M), Japan (MYR207M), United States (MYR62.4M), and Thailand (MYR33.2M).

Growth In November 2024, the decrease in Iron or steel articles's year-by-year exports was explained primarily by a decrease in exports to United States (MYR-90.7M or -44.7%), Burma (MYR-34.4M or -98.3%), and Singapore (MYR-21.8M or -8.64%). In November 2024, the increase in Iron or steel articles's year-by-year imports was explained primarily by an increase in imports from Japan (MYR36.6M or 50.8%), Singapore (MYR33.5M or 24.1%), and Vietnam (MYR27.4M or 186%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR-262M(-22.2%)
IMPORT GROWTH (November 2023 - November 2024)MYR117M(8.11%)
MAIN DESTINATION (November 2024)SingaporeMYR272M

This section shows Iron or steel articles's exports and imports data at subnational level for Malaysia. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron or steel articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.69B
IMPORTS (2023)$4.39B
NET TRADE (2023)-$1.7B

In 2023, Malaysia exported $2.69B in Iron or steel articles. The main destinations of Malaysia exports on Iron or steel articles were Singapore ($755M), United States ($369M), Thailand ($287M), Australia ($178M), and Qatar ($129M).

In 2023, Malaysia imported $4.39B in Iron or steel articles, mainly from China ($2.29B), Singapore ($614M), Japan ($285M), Germany ($178M), and United States ($139M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
Qatar$123M (2.01k%)
Thailand$92.3M (47.5%)
Singapore$47.5M (6.72%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Malaysia WERE (2022 - 2023):
United States-$175M (-32.2%)
India-$54.7M (-45.9%)
Germany-$43.4M (-47.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Malaysia's main exporting competitors in Iron or steel articles were:
China $92.9B
Germany $34.3B
United States $21.8B
In 2023, Malaysia's main importing competitors in Iron or steel articles were:
United States $52.5B
Germany $27.4B
France $14.2B

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $112M
TOP IMPORT POTENTIALChina+ $126M

Iron or steel articles’s highest export potential is United States. With an export gap of $112M.   Iron or steel articles’s highest import potential is China with an import gap of $126M.

See methodology.

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