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2023
Exports $227MWorld Rnk 9 / 99
Flag Rnk 161 / 1208
2023
Destination $29.4M South Korea
2022 - 2023
FASTEST GROWING MARKET $29.4MVietnam
2023
PRODUCT COMPLEXITY IN Iron Reductions-1.12Rnk 860 / 1025
2023
Imports $13.4MWorld Rnk 31 / 142
Flag Rnk 747 / 1211
2023
Origin $1.26M Bahrain
2022 - 2023
FASTEST GROWING ORIGIN $1.26MSingapore
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $227M in Iron Reductions, making it the 9th largest exporter of Iron Reductions in the world. At the same year, Iron Reductions was the 161st most exported product in Malaysia. The main destination of Iron Reductions exports from Malaysia are: South Korea ($116M), Vietnam ($67.9M), Indonesia ($30.6M), Japan ($10.1M), and Chinese Taipei ($2.86M).

The fastest growing export markets for Iron Reductions of Malaysia between 2022 and 2023 were Vietnam ($29.4M), Indonesia ($22.4M), and Chinese Taipei ($2.84M).

Imports In 2023, Malaysia imported $13.4M in Iron Reductions, becoming the 31st largest importer of Iron Reductions in the world. At the same year, Iron Reductions was the 747th most imported product in Malaysia. Malaysia imports Iron Reductions primarily from: Bahrain ($9.44M), China ($1.34M), Singapore ($1.31M), India ($680k), and Germany ($145k).

The fastest growing import markets in Iron Reductions for Malaysia between 2022 and 2023 were Singapore ($1.26M), Bahrain ($311k), and India ($171k).

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Iron Reductions exports accounted up to MYR283M and imports accounted up to MYR1.73M, resulting in a positive trade balance of MYR281M. Between November 2023 and November 2024 the exports of Malaysia's   Iron Reductions have increased by MYR228M (419%) from MYR54.5M to MYR283M, while imports increased by MYR1.02M (142%) from MYR714k to MYR1.73M.

Destinations In November 2024, Iron Reductions were exported mostly to Vietnam (MYR156M), South Korea (MYR126M), Chinese Taipei (MYR715k), Singapore (MYR237k), and Denmark (MYR68k), and were imported mostly from Bahrain (MYR863k), China (MYR502k), Singapore (MYR275k), South Korea (MYR82k), and United States (MYR4.56k).

Growth In November 2024, the increase in Iron Reductions's year-by-year exports was explained primarily by an increase in exports to . In November 2024, the increase in Iron Reductions's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR228M(419%)
IMPORT GROWTH (November 2023 - November 2024)MYR1.02M(142%)
MAIN DESTINATION (November 2024)VietnamMYR156M

This section shows Iron Reductions'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 Reductions over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$227M
IMPORTS (2023)$13.4M
NET TRADE (2023)$214M

In 2023, Malaysia exported $227M in Iron Reductions. The main destinations of Malaysia exports on Iron Reductions were South Korea ($116M), Vietnam ($67.9M), Indonesia ($30.6M), Japan ($10.1M), and Chinese Taipei ($2.86M).

In 2023, Malaysia imported $13.4M in Iron Reductions, mainly from Bahrain ($9.44M), China ($1.34M), Singapore ($1.31M), India ($680k), and Germany ($145k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Reductions EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
Vietnam$29.4M (76.4%)
Indonesia$22.4M (271%)
Chinese Taipei$2.84M (11.7k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Reductions BY Malaysia WERE (2022 - 2023):
South Korea-$179M (-60.8%)
United States-$31.2M (-100%)
Netherlands-$15.8M (-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 Reductions were:
Russia $910M
India $701M
Trinidad and Tobago $617M
In 2023, Malaysia's main importing competitors in Iron Reductions were:
Saudi Arabia $1.02B
United States $601M
Oman $481M

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Trade Value of Iron Reductions by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $7.03M
TOP IMPORT POTENTIALIndia+ $672k

Iron Reductions’s highest export potential is United States. With an export gap of $7.03M.   Iron Reductions’s highest import potential is India with an import gap of $672k.

See methodology.

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