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2023
Exports $27.8BWorld Rnk 16 / 150
Flag Rnk 3 / 1208
2023
Destination $4.58B China
2022 - 2023
FASTEST GROWING MARKET $4.58BChina
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $15.1BWorld Rnk 18 / 159
Flag Rnk 3 / 1211
2023
Origin $814M Saudi Arabia
2022 - 2023
FASTEST GROWING ORIGIN $814MSaudi Arabia
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $27.8B in Crude Petroleum, making it the 16th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 3rd most exported product in Malaysia. The main destination of Crude Petroleum exports from Malaysia are: China ($19B), Australia ($2.33B), Thailand ($2.19B), India ($1.83B), and Brunei ($1.13B).

The fastest growing export markets for Crude Petroleum of Malaysia between 2022 and 2023 were China ($4.58B), India ($448M), and Thailand ($162M).

Imports In 2023, Malaysia imported $15.1B in Crude Petroleum, becoming the 18th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 3rd most imported product in Malaysia. Malaysia imports Crude Petroleum primarily from: Saudi Arabia ($7.24B), United Arab Emirates ($2.28B), Brazil ($830M), Angola ($738M), and United States ($617M).

The fastest growing import markets in Crude Petroleum for Malaysia between 2022 and 2023 were Saudi Arabia ($814M), Angola ($659M), and United States ($470M).

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Crude Petroleum exports accounted up to MYR1.71B and imports accounted up to MYR4.28B, resulting in a negative trade balance of MYR2.57B. Between November 2023 and November 2024 the exports of Malaysia's   Crude Petroleum have decreased by MYR-1.59B (-48.3%) from MYR3.3B to MYR1.71B, while imports decreased by MYR-1.34B (-23.8%) from MYR5.61B to MYR4.28B.

Destinations In November 2024, Crude Petroleum were exported mostly to Thailand (MYR682M), Australia (MYR490M), Brunei (MYR168M), Singapore (MYR134M), and Indonesia (MYR125M), and were imported mostly from Saudi Arabia (MYR1.59B), Chad (MYR660M), United Arab Emirates (MYR517M), Cameroon (MYR342M), and Libya (MYR223M).

Growth In November 2024, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to India (MYR-155M or -39.4%), Australia (MYR-86.3M or -14.6%), and Japan (MYR-11.9M or -4.83%). In November 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Brunei (MYR-115M or -93.2%) and Brazil (MYR-53.9M or -56.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR-1.59B(-48.3%)
IMPORT GROWTH (November 2023 - November 2024)MYR-1.34B(-23.8%)
MAIN DESTINATION (November 2024)ThailandMYR682M

This section shows Crude 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 Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$27.8B
IMPORTS (2023)$15.1B
NET TRADE (2023)$12.7B

In 2023, Malaysia exported $27.8B in Crude Petroleum. The main destinations of Malaysia exports on Crude Petroleum were China ($19B), Australia ($2.33B), Thailand ($2.19B), India ($1.83B), and Brunei ($1.13B).

In 2023, Malaysia imported $15.1B in Crude Petroleum, mainly from Saudi Arabia ($7.24B), United Arab Emirates ($2.28B), Brazil ($830M), Angola ($738M), and United States ($617M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
China$4.58B (31.7%)
India$448M (32.3%)
Thailand$162M (7.98%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Malaysia WERE (2022 - 2023):
Brunei-$255M (-18.4%)
Australia-$102M (-4.17%)
Vietnam-$89.3M (-63.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Malaysia's main exporting competitors in Crude Petroleum were:
Saudi Arabia $181B
United States $125B
Russia $122B
In 2023, Malaysia's main importing competitors in Crude Petroleum were:
China $319B
United States $170B
India $140B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $1.33B
TOP IMPORT POTENTIALNigeria+ $251M

Crude Petroleum’s highest export potential is India. With an export gap of $1.33B.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $251M.

See methodology.

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