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2023
Exports $41BWorld Rnk 8 / 214
Flag Rnk 2 / 1208
2023
Destination $5.01B Singapore
2022 - 2023
FASTEST GROWING MARKET $5.01BChina
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $28.8BWorld Rnk 8 / 226
Flag Rnk 2 / 1211
2023
Origin $789M Singapore
2022 - 2023
FASTEST GROWING ORIGIN $789MIndonesia
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $41B in Refined Petroleum, making it the 8th 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 ($8.91B), China ($7.41B), Australia ($5.57B), Indonesia ($4.56B), and South Korea ($1.72B).

The fastest growing export markets for Refined Petroleum of Malaysia between 2022 and 2023 were China ($5.01B), Australia ($1.83B), and South Korea ($1.19B).

Imports In 2018, Malaysia imported $28.8B in Refined Petroleum, becoming the 8th 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 ($8.87B), China ($4.21B), South Korea ($3.34B), Indonesia ($1.78B), and United Arab Emirates ($1.73B).

The fastest growing import markets in Refined Petroleum for Malaysia between 2022 and 2023 were Indonesia ($789M), Russia ($569M), and China ($507M).

COMPANIES In 2023, leading companies such as Panasonic (2) and John Deere (1) were at the forefront of shipping Refined Petroleum from Malaysia to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Refined Petroleum exports accounted up to MYR8.19B and imports accounted up to MYR8.35B, resulting in a negative trade balance of MYR165M. Between November 2023 and November 2024 the exports of Malaysia's   Refined Petroleum have decreased by MYR-4.19B (-33.9%) from MYR12.4B to MYR8.19B, while imports decreased by MYR-2.16B (-20.5%) from MYR10.5B to MYR8.35B.

Destinations In November 2024, Refined Petroleum were exported mostly to Singapore (MYR1.92B), Indonesia (MYR1.58B), Australia (MYR1.57B), Bangladesh (MYR543M), and New Zealand (MYR407M), and were imported mostly from Singapore (MYR2.61B), India (MYR1.15B), Saudi Arabia (MYR926M), South Korea (MYR834M), and Chinese Taipei (MYR652M).

Growth In November 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to China (MYR-499M or -81.2%), South Korea (MYR-325M or -65.9%), and Philippines (MYR-134M or -48.6%). In November 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from India (MYR-762M or -99.6%), South Korea (MYR-393M or -38.6%), and Netherlands (MYR-281M or -99.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR-4.19B(-33.9%)
IMPORT GROWTH (November 2023 - November 2024)MYR-2.16B(-20.5%)
MAIN DESTINATION (November 2024)SingaporeMYR1.92B

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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Historical Data

Trade Balance

Color
EXPORTS (2023)$41B
IMPORTS (2023)$28.8B
NET TRADE (2023)$12.2B

In 2023, Malaysia exported $41B in Refined Petroleum. The main destinations of Malaysia exports on Refined Petroleum were Singapore ($8.91B), China ($7.41B), Australia ($5.57B), Indonesia ($4.56B), and South Korea ($1.72B).

In 2023, Malaysia imported $28.8B in Refined Petroleum, mainly from Singapore ($8.87B), China ($4.21B), South Korea ($3.34B), Indonesia ($1.78B), and United Arab Emirates ($1.73B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
China$5.01B (209%)
Australia$1.83B (49%)
South Korea$1.19B (223%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Malaysia WERE (2022 - 2023):
Singapore-$4.98B (-35.8%)
Indonesia-$1.47B (-24.3%)
Bangladesh-$1.44B (-55.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Malaysia's main exporting competitors in Refined Petroleum were:
United States $107B
Singapore $55.9B
India $55.8B
In 2023, Malaysia's main importing competitors in Refined Petroleum were:
United States $68.8B
Singapore $55.7B
Australia $35.3B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $1.04B
TOP IMPORT POTENTIALIndia+ $1.03B

Refined Petroleum’s highest export potential is China. With an export gap of $1.04B.   Refined Petroleum’s highest import potential is India with an import gap of $1.03B.

See methodology.

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