OVERVIEW

Malaysia is a country located in South-East Asia known for its cultural diversity, tropical rainforests, iconic landmarks like the Petronas Twin Towers and its vibrant cities with a very distinct dynamic identity, in a way where modernity and tradition are blended together in a perfectly balanced mix.

Its capital, Kuala Lumpur, is the largest urban center and the nation’s hub for commerce, culture and tourism, where typical street food meets beautiful skylines; The city also hosts the administrative capital, Putrajaya, nearby.

In 2023, Malaysia ranked

  • 37th in terms of GDP, currently valued as $400B, out of 195 economies in the world;
  • 23rd in terms of total exports out of 226 countries;
  • 85th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.

ECONOMIC COMPLEXITY RANKING

EXPORT

In 2023 it was estimated that the principal products that were exported from Malaysia were

  • Integrated Circuits - $8.32B;
  • Computers - $2.01B;
  • Refined Petroleum - $1.82B;
  • Petroleum Gas - $1.19B;
  • Palm Oil - $1.09B.

IMPORT

In 2023 the most imported products from other countries to Malaysia were

  • Integrated Circuits - $5.44B;
  • Computers - $3.82B;
  • Refined Petroleum - $1.69B;
  • Crude Petroleum - $850M;
  • Telephones - $797M.

YEARLY TRADE

During the last five reported years, the exports of Malaysia have increased by $44.4B from $306B in 2018 to $351B in 2023.

The most recent exports are led by

  • Integrated Circuits - $72.8B;
  • Refined Petroleum - $35.4B;
  • Crude Petroleum - $16.5B;
  • Petroleum Gas - $16.4B;
  • Palm Oil - $13.8B.

They were exported primarily to

  • China - $54.9B;
  • Singapore - $47.6B;
  • United States - $41.7B;
  • Hong Kong - $19.7B;
  • Japan - $18.9B.

CONCLUSIONS

In 2023, Malaysia stood out as a stable and forward-looking country, with renovated sectors like tourism and digital services that gained traction, while reforms were supporting a more sustainable growth.

The nation is still attracting global interest due to its strategic position and its youthful and young population, showing overall all the cards needed for a long-term development.

Source: https://oec.world/en

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