Refined Petroleum in Malaysia 2020 Exports | Imports : $15.9B | $13.4B, World Rnk 9 / 212 Rnk 2 / 1194 | World Rnk 8 / 224 Rnk 2 / 1208
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $387M | $179M, Hong Kong | Venezuela
2020 ECONOMIC COMPLEXITY of Malaysia: 1.02, Rnk 25 / 127
2020 PRODUCT COMPLEXITY IN Refined Petroleum: -0.94, Rnk 822 / 1029
Exports In 2020, Malaysia exported $15.9B in Refined Petroleum, making it the 9th 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 ($5.63B), China ($1.61B), Indonesia ($1.28B), Hong Kong ($1.13B), and Australia ($1.12B).
The fastest growing export markets for Refined Petroleum of Malaysia between 2019 and 2020 were Hong Kong ($387M), China ($255M), and United States ($167M).
Imports In 2020, Malaysia imported $13.4B 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 ($4.33B), China ($1.41B), India ($1.27B), South Korea ($1.12B), and United Arab Emirates ($865M).
The fastest growing import markets in Refined Petroleum for Malaysia between 2019 and 2020 were Venezuela ($179M), Indonesia ($160M), and Bahrain ($87.8M).
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 treatement, 0.33%), Burundi (Most Favoured Nation duty rate treatement, 0.33%), Benin (Most Favoured Nation duty rate treatement, 0.33%), Burkina Faso (Most Favoured Nation duty rate treatement, 0.33%), and Botswana (Most Favoured Nation duty rate treatement, 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 (2020): $15.9B
IMPORTS (2020): $13.4B
NET TRADE (2020): $2.47B
In 2020, Malaysia exported $15.9B in Refined Petroleum. The main destinations of Malaysia exports on Refined Petroleum were Singapore ($5.63B), China ($1.61B), Indonesia ($1.28B), Hong Kong ($1.13B), and Australia ($1.12B).
In 2020, Malaysia imported $13.4B in Refined Petroleum, mainly from Singapore ($4.33B), China ($1.41B), India ($1.27B), South Korea ($1.12B), and United Arab Emirates ($865M).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Malaysia WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Malaysia WERE (2019 - 2020):
In 2020, Malaysia's main exporting competitors in Refined Petroleum were:
In 2020, Malaysia's main importing competitors in Refined Petroleum were:
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