In this guide to the Malaysian economy we’ll give you an overview of the economy as a whole, including GDP and including Malaysia’s primary imports and exports of goods and services.
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Economy of Malaysia
The country of Malaysia has enjoyed decades of industrial growth and political stability, helping it attain a position as the 20th largest export economy in the world.
Malaysia’s total annual exports amount to $270 billion and its imports for the same period come to $212 billion, resulting in a positive trade balance of $57.6 billion.
The country is generally viewed as having a vibrant economy. Malaysia has seen a $2.1 billion rise in the annual value of its exports over the last five years — from $288 billion (2013) to $270 billion (2018).
The GDP of Malaysia is $359 billion, resulting in a GDP per capita of $11,373.
Malaysia’s Top 5 Commodity Exports
- Iron Blocks – $61,332,142.00
- Iron Sheet Piling – $40,565,977.00
- Commodities not elsewhere specified – $33,510,376.00
- Cheese – $16,865,362.00
- Other Processed Fruits and Nuts – $14,543,091.00
Malaysia’s Other Notable Exports
- Cars – $64 million
- Rubber Tires – $38 million
- Self-adhesive Plastics – $31 million
- Non-woven Textiles – $29 million
- Trailers – $27 million
- Palm oil – $11 million
Top export destinations of Malaysia are Singapore ($36.8 billion), China ($36.1 billion), the United States ($28.3 billion), Hong Kong ($19.5 billion), and Japan ($17.2 billion).
Malaysia’s Top 5 Commodity Imports
- Refined Petroleum – $69 million
- Commodities not elsewhere specified – $54 million
- Scrap Iron – $35 million
- Cheese – $23 million
- Scrap Aluminum – $15 million
Malaysia’s Other Notable Imports
- Cars – $223 million
- Packaged Medicaments – $36 million
- Rubberworking Machinery – $24 million
- Computers – $24 million
- Telephones – $21 million
Details About Malaysia’s Imports/Exports
Here’s more background information about some of Malaysia’s trade.
Refined Petroleum
Global export sales of refined petroleum are worth $753 billion annually and Malaysia is the 11th largest exporter with $19.1 billion (about 2.5% of the overall export market).
Malaysia’s refined petroleum was exported mostly to Asian countries. Among its fastest-grown customers between 2017-2018 were China, Vietnam, and Bangladesh.
Aluminum
The annual value of global aluminum shipments is $61.1 billion and Malaysia is the 9th largest exporter with a 3.6% market share.
Malaysia has posted strong growth in aluminum export values over the previous year, with an increase of $316 million (16.8%).
Exported aluminum from Malaysia primarily went to Vietnam ($346 million), South Korea ($310 million), Turkey ($273 million), India ($247 million), and Japan ($206 million).
Cars
Cars represent $782 billion in yearly global exports, with Malaysia contributing $431 million (0.06%) as the 43rd biggest car exporter worldwide.
Cars from Malaysia primarily went to Thailand ($313 million), Indonesia ($46.9 million), Philippines ($28.3 million), Chinese Taipei ($5.5 million), and Sri Lanka ($4.47 million).
Palm Oil
Although Malaysia is the second biggest exporter of palm oil after Indonesia, it isn’t a huge part of their overall economy because of its size and diversity.
Interesting Facts About Malaysia
- Malaysia boasts 40,934 miles of highways, which is more than the Earth’s circumference.
- The country has the biggest roundabout in the world. Located in Putrajaya, it is 2.2 miles in diameter.
- The Pomelo, an indigenous fruit of Malaysia, is the largest citrus fruit in the world.
- Petronas is the only Malaysian company that makes the Fortune Global 500 and accounts for about a third of the government’s tax revenue.
All figures based on OEC/IMF 2018 calculations and projections unless otherwise stated.
Regulated Brokers: Where Can I Trade Commodities?
Start your research with reviews of these regulated brokers available in .
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Further Reading
- Commodity.com Guide to Commodity Brokers
- Commodity.com Guide to CFD Brokers
- Guide to Trading Soft Agricultural Commodities
- Guide to Trading Aluminum
