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2023
Exports $342MWorld Rnk 27 / 207
Flag Rnk 122 / 1208
2023
Destination $24.7M India
2022 - 2023
FASTEST GROWING MARKET $24.7MChina
2023
PRODUCT COMPLEXITY IN Scrap Iron-0.57Rnk 726 / 1025
2023
Imports $384MWorld Rnk 25 / 177
Flag Rnk 123 / 1211
2023
Origin $37.6M Japan
2022 - 2023
FASTEST GROWING ORIGIN $37.6MJapan
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $342M in Scrap Iron, making it the 27th largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 122nd most exported product in Malaysia. The main destination of Scrap Iron exports from Malaysia are: India ($262M), China ($34.1M), Chinese Taipei ($10.2M), Japan ($7.96M), and Singapore ($7.18M).

The fastest growing export markets for Scrap Iron of Malaysia between 2022 and 2023 were China ($24.7M), India ($17.9M), and Chinese Taipei ($7.63M).

Imports In 2023, Malaysia imported $384M in Scrap Iron, becoming the 25th largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 123rd most imported product in Malaysia. Malaysia imports Scrap Iron primarily from: Japan ($88.2M), Singapore ($63.4M), United States ($48.1M), Australia ($47.8M), and United Kingdom ($33.7M).

The fastest growing import markets in Scrap Iron for Malaysia between 2022 and 2023 were Japan ($37.6M), Singapore ($31.3M), and United Kingdom ($13.1M).

COMPANIES In 2023, leading companies such as SIGMA Corp (2) were at the forefront of shipping Scrap Iron from Malaysia to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Scrap Iron exports accounted up to MYR2.09M and imports accounted up to MYR20.8M, resulting in a negative trade balance of MYR18.7M. Between November 2023 and November 2024 the exports of Malaysia's   Scrap Iron have decreased by MYR-6.67M (-76.2%) from MYR8.75M to MYR2.09M, while imports decreased by MYR-95M (-82%) from MYR116M to MYR20.8M.

Destinations In November 2024, Scrap Iron were exported mostly to Chinese Taipei (MYR842k), India (MYR604k), Japan (MYR415k), Singapore (MYR159k), and South Korea (MYR58.7k), and were imported mostly from Australia (MYR9.01M), New Zealand (MYR4.82M), United States (MYR3.18M), Singapore (MYR2.09M), and Japan (MYR827k).

Growth In November 2024, the decrease in Scrap Iron's year-by-year exports was explained primarily by a decrease in exports to Singapore (MYR-3.35M or -65.5%), United States (MYR-876k or -98.5%), and Chinese Taipei (MYR-253k or -10.2%). In November 2024, the decrease in Scrap Iron's year-by-year imports was explained primarily by a decrease in imports from United States (MYR-26.2M or -89.4%), Japan (MYR-22.9M or -84.9%), and Hong Kong (MYR-14.2M or -70.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR-6.67M(-76.2%)
IMPORT GROWTH (November 2023 - November 2024)MYR-95M(-82%)
MAIN DESTINATION (November 2024)Chinese TaipeiMYR842k

This section shows Scrap Iron'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 Scrap Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$342M
IMPORTS (2023)$384M
NET TRADE (2023)-$41.4M

In 2023, Malaysia exported $342M in Scrap Iron. The main destinations of Malaysia exports on Scrap Iron were India ($262M), China ($34.1M), Chinese Taipei ($10.2M), Japan ($7.96M), and Singapore ($7.18M).

In 2023, Malaysia imported $384M in Scrap Iron, mainly from Japan ($88.2M), Singapore ($63.4M), United States ($48.1M), Australia ($47.8M), and United Kingdom ($33.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
China$24.7M (264%)
India$17.9M (7.32%)
Chinese Taipei$7.63M (296%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Malaysia WERE (2022 - 2023):
Singapore-$19.3M (-72.9%)
Thailand-$8.65M (-58.5%)
Indonesia-$5.56M (-80.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Malaysia's main exporting competitors in Scrap Iron were:
United States $6.91B
Germany $4.54B
United Kingdom $3.15B
In 2023, Malaysia's main importing competitors in Scrap Iron were:
Turkey $7.59B
India $6.63B
Italy $2.59B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $10.7M
TOP IMPORT POTENTIALSingapore+ $12.5M

Scrap Iron’s highest export potential is China. With an export gap of $10.7M.   Scrap Iron’s highest import potential is Singapore with an import gap of $12.5M.

See methodology.

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