Refined Petroleum in Malaysia 2021 Exports | Imports : $29.3B | $18.7B, World Rnk 10 / 218 Rnk 2 / 1201 | World Rnk 11 / 226 Rnk 2 / 1208
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $5.22B | $2.06B, Singapore | Singapore
2021 ECONOMIC COMPLEXITY of Malaysia: 1.09, Rnk 24 / 131
2021 PRODUCT COMPLEXITY IN Refined Petroleum: -0.92, Rnk 817 / 1029
Exports In 2021, Malaysia exported $29.3B in Refined Petroleum, making it the 10th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in Malaysia. The main destination of Refined Petroleum exports from Malaysia are: Singapore ($10.9B), Indonesia ($3.26B), Australia ($2.56B), China ($1.72B), and Bangladesh ($1.29B).
The fastest growing export markets for Refined Petroleum of Malaysia between 2020 and 2021 were Singapore ($5.22B), Indonesia ($1.98B), and Australia ($1.44B).
Imports In 2021, Malaysia imported $18.7B in Refined Petroleum, becoming the 11th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Malaysia. Malaysia imports Refined Petroleum primarily from: Singapore ($6.37B), South Korea ($2.01B), India ($1.8B), China ($1.58B), and Chinese Taipei ($1.47B).
The fastest growing import markets in Refined Petroleum for Malaysia between 2020 and 2021 were Singapore ($2.06B), Chinese Taipei ($1.04B), and South Korea ($886M).
Tariffs In 2016, the average tariff for Malaysia in Refined Petroleum was 0.33%. The countries with the highest import tariffs for Refined Petroleum were Angola (Most Favoured Nation duty rate treatment, 0.33%), Burundi (Most Favoured Nation duty rate treatment, 0.33%), Benin (Most Favoured Nation duty rate treatment, 0.33%), Burkina Faso (Most Favoured Nation duty rate treatment, 0.33%), and Botswana (Most Favoured Nation duty rate treatment, 0.33%).
September 2020
Overview In September 2020 Malaysia's Refined Petroleum exports accounted up to MYR3.08B and imports accounted up to MYR3.74B, resulting in a negative trade balance of MYR664M. Between September 2019 and September 2020 the exports of Malaysia's Refined Petroleum have decreased by MYR-1.61B (-34.3%) from MYR4.69B to MYR3.08B, while imports decreased by MYR-2.48B (-39.8%) from MYR6.22B to MYR3.74B.
Destinations In September 2020, Refined Petroleum were exported mostly to Singapore (MYR1.1B), China (MYR497M), Australia (MYR387M), Indonesia (MYR284M), and Hong Kong (MYR117M), and were imported mostly from Singapore (MYR1.48B), United Arab Emirates (MYR438M), China (MYR437M), South Korea (MYR388M), and India (MYR310M).
Growth In September 2020, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Singapore (MYR-782M or -45.6%), Vietnam (MYR-539M or -48.5%), and Indonesia (MYR-370M or -63.5%). In September 2020, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Singapore (MYR-1.24B or -37.2%), India (MYR-578M or -70.9%), and Japan (MYR-184M or -95.6%).
EXPORT GROWTH (September 2019 - September 2020): MYR-1.61B, (-34.3%)
IMPORT GROWTH (September 2019 - September 2020): MYR-2.48B, (-39.8%)
MAIN DESTINATION (September 2020): Singapore, MYR1.1B
This section shows Refined Petroleum'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 Refined Petroleum over time.
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EXPORTS (2021): $29.3B
IMPORTS (2021): $18.7B
NET TRADE (2021): $10.6B
In 2021, Malaysia exported $29.3B in Refined Petroleum. The main destinations of Malaysia exports on Refined Petroleum were Singapore ($10.9B), Indonesia ($3.26B), Australia ($2.56B), China ($1.72B), and Bangladesh ($1.29B).
In 2021, Malaysia imported $18.7B in Refined Petroleum, mainly from Singapore ($6.37B), South Korea ($2.01B), India ($1.8B), China ($1.58B), and Chinese Taipei ($1.47B).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Malaysia WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Malaysia WERE (2020 - 2021):
In 2021, Malaysia's main exporting competitors in Refined Petroleum were:
In 2021, Malaysia's main importing competitors in Refined Petroleum were:
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