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2023
Exports $26.7MWorld Rnk 30 / 198
Flag Rnk 453 / 1208
2023
Destination $2.24M Singapore
2022 - 2023
FASTEST GROWING MARKET $2.24MSingapore
2023
PRODUCT COMPLEXITY IN Spices-1.59Rnk 959 / 1025
2023
Imports $87.1MWorld Rnk 14 / 224
Flag Rnk 357 / 1211
2023
Origin $16.8M China
2022 - 2023
FASTEST GROWING ORIGIN $16.8MChina
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $26.7M in Spices, making it the 30th largest exporter of Spices in the world. At the same year, Spices was the 453rd most exported product in Malaysia. The main destination of Spices exports from Malaysia are: Singapore ($17.8M), Brunei ($2.36M), Australia ($1.08M), Indonesia ($667k), and Hong Kong ($640k).

The fastest growing export markets for Spices of Malaysia between 2022 and 2023 were Singapore ($2.24M), China ($223k), and Vietnam ($127k).

Imports In 2023, Malaysia imported $87.1M in Spices, becoming the 14th largest importer of Spices in the world. At the same year, Spices was the 357th most imported product in Malaysia. Malaysia imports Spices primarily from: China ($47.5M), India ($14.1M), Thailand ($9.47M), Bangladesh ($4.43M), and Indonesia ($2.91M).

The fastest growing import markets in Spices for Malaysia between 2022 and 2023 were China ($16.8M), Thailand ($2.92M), and Vietnam ($2.09M).

Latest Trends

December 2024

About

Overview In December 2024 Malaysia's Spices exports accounted up to MYR9.28M and imports accounted up to MYR36.9M, resulting in a negative trade balance of MYR27.7M. Between December 2023 and December 2024 the exports of Malaysia's   Spices have decreased by MYR-1.25M (-11.8%) from MYR10.5M to MYR9.28M, while imports increased by MYR4.52M (13.9%) from MYR32.4M to MYR36.9M.

Destinations In December 2024, Spices were exported mostly to Singapore (MYR5.53M), Thailand (MYR804k), Maldives (MYR585k), Indonesia (MYR452k), and China (MYR418k), and were imported mostly from China (MYR17.6M), India (MYR8.99M), Thailand (MYR4.46M), Bangladesh (MYR1.97M), and Indonesia (MYR561k).

Growth In December 2024, the decrease in Spices's year-by-year exports was explained primarily by a decrease in exports to China (MYR-147k or -78.8%), United States (MYR-90.8k or -65.6%), and Chinese Taipei (MYR-71.4k or -84.8%). In December 2024, the increase in Spices's year-by-year imports was explained primarily by an increase in imports from China (MYR3.6M or 25%), India (MYR3.57M or 117%), and Vietnam (MYR667k or 88%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)MYR-1.25M(-11.8%)
IMPORT GROWTH (December 2023 - December 2024)MYR4.52M(13.9%)
MAIN DESTINATION (December 2024)SingaporeMYR5.53M

This section shows Spices'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 Spices over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$26.7M
IMPORTS (2023)$87.1M
NET TRADE (2023)-$60.4M

In 2023, Malaysia exported $26.7M in Spices. The main destinations of Malaysia exports on Spices were Singapore ($17.8M), Brunei ($2.36M), Australia ($1.08M), Indonesia ($667k), and Hong Kong ($640k).

In 2023, Malaysia imported $87.1M in Spices, mainly from China ($47.5M), India ($14.1M), Thailand ($9.47M), Bangladesh ($4.43M), and Indonesia ($2.91M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Spices EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
Singapore$2.24M (14.4%)
China$223k (65.5%)
Vietnam$127k (77.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Spices BY Malaysia WERE (2022 - 2023):
Japan-$185k (-39%)
United Kingdom-$118k (-27.5%)
India-$94k (-98.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Malaysia's main exporting competitors in Spices were:
China $641M
India $509M
Germany $172M
In 2023, Malaysia's main importing competitors in Spices were:
United States $422M
Netherlands $241M
Germany $209M

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Trade Value of Spices by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $552k
TOP IMPORT POTENTIALIndia+ $3.01M

Spices’s highest export potential is United States. With an export gap of $552k.   Spices’s highest import potential is India with an import gap of $3.01M.

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