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2022
Exports $134MWorld Rnk 52 / 212
Flag Rnk 243 / 1198
2022
Destination $3.05M India
2021 - 2022
FASTEST GROWING MARKET $3.05MThailand
2022
PRODUCT COMPLEXITY IN Scrap Iron-0.59Rnk 720 / 1025
2022
Imports $545MWorld Rnk 22 / 187
Flag Rnk 97 / 1203
2022
Origin $2.6M United States
2021 - 2022
FASTEST GROWING ORIGIN $2.6MBrazil
2022
ECONOMIC COMPLEXITY of Malaysia1.09Rnk 24 / 133

About

Exports In 2022, Malaysia exported $134M in Scrap Iron, making it the 52nd largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 243rd most exported product in Malaysia. The main destination of Scrap Iron exports from Malaysia are: India ($80.5M), Singapore ($18.2M), Thailand ($7.28M), Indonesia ($6.08M), and Japan ($6.05M).

The fastest growing export markets for Scrap Iron of Malaysia between 2021 and 2022 were Thailand ($3.05M), Japan ($1.37M), and United States ($535k).

Imports In 2022, Malaysia imported $545M in Scrap Iron, becoming the 22nd largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 97th most imported product in Malaysia. Malaysia imports Scrap Iron primarily from: United States ($201M), Japan ($144M), Australia ($50.4M), Singapore ($38.7M), and United Kingdom ($25M).

The fastest growing import markets in Scrap Iron for Malaysia between 2021 and 2022 were Brazil ($2.6M), Australia ($1.62M), and Nicaragua ($276k).

COMPANIES In 2023, leading companies such as SIGMA Corp (2) were at the forefront of shipping Scrap Iron from Malaysia to the United States.

Latest Trends

September 2024

About

Overview In September 2024 Malaysia's Scrap Iron exports accounted up to MYR3.75M and imports accounted up to MYR37.1M, resulting in a negative trade balance of MYR33.4M. Between September 2023 and September 2024 the exports of Malaysia's   Scrap Iron have decreased by MYR-8.69M (-69.9%) from MYR12.4M to MYR3.75M, while imports decreased by MYR-122M (-76.7%) from MYR159M to MYR37.1M.

Destinations In September 2024, Scrap Iron were exported mostly to Belgium (MYR1.58M), South Korea (MYR785k), India (MYR518k), Chinese Taipei (MYR331k), and Japan (MYR243k), and were imported mostly from United Kingdom (MYR9.29M), Australia (MYR7.96M), United States (MYR5.21M), Hong Kong (MYR3.26M), and New Zealand (MYR2.89M).

Growth In September 2024, the decrease in Scrap Iron's year-by-year exports was explained primarily by a decrease in exports to Singapore (MYR-3.35M or -65.5%), United States (MYR-876k or -98.5%), and Chinese Taipei (MYR-253k or -10.2%). In September 2024, the decrease in Scrap Iron's year-by-year imports was explained primarily by a decrease in imports from United States (MYR-26.2M or -89.4%), Japan (MYR-22.9M or -84.9%), and Hong Kong (MYR-14.2M or -70.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)MYR-8.69M(-69.9%)
IMPORT GROWTH (September 2023 - September 2024)MYR-122M(-76.7%)
MAIN DESTINATION (September 2024)BelgiumMYR1.58M

This section shows Scrap Iron'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 Scrap Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$134M
IMPORTS (2022)$545M
NET TRADE (2022)-$411M

In 2022, Malaysia exported $134M in Scrap Iron. The main destinations of Malaysia exports on Scrap Iron were India ($80.5M), Singapore ($18.2M), Thailand ($7.28M), Indonesia ($6.08M), and Japan ($6.05M).

In 2022, Malaysia imported $545M in Scrap Iron, mainly from United States ($201M), Japan ($144M), Australia ($50.4M), Singapore ($38.7M), and United Kingdom ($25M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Malaysia WERE (2021 - 2022):
Thailand$3.05M (72.2%)
Japan$1.37M (29.1%)
United States$535k (30.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Malaysia WERE (2021 - 2022):
China-$16.1M (-86%)
Bangladesh-$11.7M (-99.3%)
Hong Kong-$4.39M (-86.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Malaysia's main exporting competitors in Scrap Iron were:
United States $7.92B
Germany $5.21B
United Kingdom $3.91B
In 2022, Malaysia's main importing competitors in Scrap Iron were:
Turkey $8.77B
India $5.65B
Belgium $2.84B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $10.7M
TOP IMPORT POTENTIALSingapore+ $12.5M

Scrap Iron’s highest export potential is China. With an export gap of $10.7M.   Scrap Iron’s highest import potential is Singapore with an import gap of $12.5M.

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