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2023
Exports $1.06BWorld Rnk 16 / 127
Flag Rnk 44 / 1208
2023
Destination $36.5M China
2022 - 2023
FASTEST GROWING MARKET $36.5MIndia
2023
PRODUCT COMPLEXITY IN Iron Ore-1.87Rnk 987 / 1025
2023
Imports $2.25BWorld Rnk 6 / 125
Flag Rnk 15 / 1211
2023
Origin $364M Brazil
2022 - 2023
FASTEST GROWING ORIGIN $364MBrazil
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $1.06B in Iron Ore, making it the 16th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 44th most exported product in Malaysia. The main destination of Iron Ore exports from Malaysia are: China ($746M), Vietnam ($208M), Switzerland ($65.5M), India ($36.5M), and Indonesia ($7.39M).

The fastest growing export markets for Iron Ore of Malaysia between 2022 and 2023 were India ($36.5M), Switzerland ($20.9M), and Singapore ($2.68k).

Imports In 2023, Malaysia imported $2.25B in Iron Ore, becoming the 6th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 15th most imported product in Malaysia. Malaysia imports Iron Ore primarily from: Brazil ($1.72B), Australia ($249M), India ($70.2M), Switzerland ($58.6M), and Bahrain ($54.7M).

The fastest growing import markets in Iron Ore for Malaysia between 2022 and 2023 were Brazil ($364M), Australia ($91.3M), and India ($9.31M).

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Iron Ore exports accounted up to MYR392M and imports accounted up to MYR567M, resulting in a negative trade balance of MYR175M. Between November 2023 and November 2024 the exports of Malaysia's   Iron Ore have decreased by MYR-63.6M (-14%) from MYR455M to MYR392M, while imports increased by MYR29.4M (5.47%) from MYR537M to MYR567M.

Destinations In November 2024, Iron Ore were exported mostly to China (MYR187M), Vietnam (MYR87.7M), India (MYR68.3M), and Indonesia (MYR49.4M), and were imported mostly from Brazil (MYR312M), Australia (MYR146M), Bahrain (MYR64.5M), China (MYR34.4M), and Egypt (MYR8.54M).

Growth In November 2024, the decrease in Iron Ore's year-by-year exports was explained primarily by a decrease in exports to Vietnam (MYR-35.4M or -28.1%). In November 2024, the increase in Iron Ore's year-by-year imports was explained primarily by an increase in imports from Australia (MYR54.4M or 169%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR-63.6M(-14%)
IMPORT GROWTH (November 2023 - November 2024)MYR29.4M(5.47%)
MAIN DESTINATION (November 2024)ChinaMYR187M

This section shows Iron Ore'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 Iron Ore over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.06B
IMPORTS (2023)$2.25B
NET TRADE (2023)-$1.19B

In 2023, Malaysia exported $1.06B in Iron Ore. The main destinations of Malaysia exports on Iron Ore were China ($746M), Vietnam ($208M), Switzerland ($65.5M), India ($36.5M), and Indonesia ($7.39M).

In 2023, Malaysia imported $2.25B in Iron Ore, mainly from Brazil ($1.72B), Australia ($249M), India ($70.2M), Switzerland ($58.6M), and Bahrain ($54.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
India$36.5M (1%)
Switzerland$20.9M (46.9%)
Singapore$2.68k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Malaysia WERE (2022 - 2023):
Vietnam-$50.5M (-19.5%)
China-$44.1M (-5.58%)
Japan-$28.8M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Malaysia's main exporting competitors in Iron Ore were:
Australia $85.4B
Brazil $34B
Canada $7.23B
In 2023, Malaysia's main importing competitors in Iron Ore were:
China $112B
Japan $9.3B
South Korea $7.07B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $345M
TOP IMPORT POTENTIALAustralia+ $112M

Iron Ore’s highest export potential is China. With an export gap of $345M.   Iron Ore’s highest import potential is Australia with an import gap of $112M.

See methodology.

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