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2023
Exports $5.81BWorld Rnk 24 / 219
Flag Rnk 9 / 96
2023
Destination $411M Hong Kong
2022 - 2023
FASTEST GROWING MARKET $411MHong Kong
2023
PRODUCT COMPLEXITY IN Iron & steel1.66Rnk 26 / 1025
2023
Imports $6.02BWorld Rnk 23 / 224
Flag Rnk 7 / 96
2023
Origin $142M China
2022 - 2023
FASTEST GROWING ORIGIN $142MOman
2023
ECONOMIC COMPLEXITY of Malaysia1.04Rnk 27 / 132

About

Exports In 2023, Malaysia exported $5.81B in Iron & steel, making it the 24th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 9th most exported product in Malaysia. The main destination of Iron & steel exports from Malaysia are: Hong Kong ($1.57B), Singapore ($548M), Turkey ($424M), India ($372M), and Indonesia ($311M).

The fastest growing export markets for Iron & steel of Malaysia between 2022 and 2023 were Hong Kong ($411M), Turkey ($381M), and Singapore ($55.9M).

Imports In 2023, Malaysia imported $6.02B in Iron & steel, becoming the 23rd largest importer of Iron & steel in the world. At the same year, Iron & steel was the 7th most imported product in Malaysia. Malaysia imports Iron & steel primarily from: China ($1.41B), Japan ($764M), Chinese Taipei ($701M), South Korea ($678M), and Indonesia ($605M).

The fastest growing import markets in Iron & steel for Malaysia between 2022 and 2023 were Oman ($142M), Singapore ($141M), and China ($42.9M).

COMPANIES In 2023, leading companies such as SIGMA Corp (2), Kontoor Brands (2), and John Deere (1) were at the forefront of shipping Iron & steel from Malaysia to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Malaysia's Iron & steel exports accounted up to MYR2.09B and imports accounted up to MYR1.95B, resulting in a positive trade balance of MYR140M. Between November 2023 and November 2024 the exports of Malaysia's   Iron & steel have decreased by MYR-390M (-15.7%) from MYR2.48B to MYR2.09B, while imports decreased by MYR-403M (-17.1%) from MYR2.36B to MYR1.95B.

Destinations In November 2024, Iron & steel were exported mostly to Singapore (MYR226M), South Korea (MYR216M), United States (MYR196M), Vietnam (MYR187M), and Thailand (MYR129M), and were imported mostly from China (MYR679M), Chinese Taipei (MYR237M), Japan (MYR225M), South Korea (MYR173M), and Vietnam (MYR165M).

Growth In November 2024, the decrease in Iron & steel's year-by-year exports was explained primarily by a decrease in exports to China (MYR-1.22B or -96.6%), United States (MYR-340M or -90.4%), and Thailand (MYR-176M or -68.5%). In November 2024, the decrease in Iron & steel's year-by-year imports was explained primarily by a decrease in imports from South Korea (MYR-291M or -59.8%), Vietnam (MYR-210M or -66.8%), and Japan (MYR-191M or -45.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)MYR-390M(-15.7%)
IMPORT GROWTH (November 2023 - November 2024)MYR-403M(-17.1%)
MAIN DESTINATION (November 2024)SingaporeMYR226M

This section shows Iron & steel'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 & steel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$5.81B
IMPORTS (2023)$6.02B
NET TRADE (2023)-$208M

In 2023, Malaysia exported $5.81B in Iron & steel. The main destinations of Malaysia exports on Iron & steel were Hong Kong ($1.57B), Singapore ($548M), Turkey ($424M), India ($372M), and Indonesia ($311M).

In 2023, Malaysia imported $6.02B in Iron & steel, mainly from China ($1.41B), Japan ($764M), Chinese Taipei ($701M), South Korea ($678M), and Indonesia ($605M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Malaysia WERE (2022 - 2023):
Hong Kong$411M (35.6%)
Turkey$381M (895%)
Singapore$55.9M (11.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Malaysia WERE (2022 - 2023):
China-$388M (-69.2%)
South Korea-$309M (-51.6%)
United States-$228M (-42.3%)
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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 & steel were:
China $66.2B
Germany $32.6B
Japan $31.6B
In 2023, Malaysia's main importing competitors in Iron & steel were:
China $35.2B
United States $33.1B
Germany $27.8B

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndonesia+ $163M
TOP IMPORT POTENTIALChina+ $253M

Iron & steel’s highest export potential is Indonesia. With an export gap of $163M.   Iron & steel’s highest import potential is China with an import gap of $253M.

See methodology.

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