Malaysia is known for its vibrant economy and diverse range of exports. Among all the commodities that the country ships to various parts of the world, electronics, and electrical machinery stand out as the biggest export. According to Malaysia export data and customs data on Malaysia exports, Malaysia’s goods exports reached $312.96 billion in 2023-24, an 11% decline from the previous year. In this article, we will delve deeper into why these products have become Malaysia’s key export and what insights can be gained from this thriving industry.
Overview of Malaysia’s top Export by Industry
Malaysia has a well-established export industry, with products ranging from electronics and electrical goods to palm oil and rubber. The country’s strategic location in Southeast Asia, as well as its strong infrastructure and skilled workforce, have helped it become a key player in the global market. Malaysia’s biggest export is electronics and electrical goods with a 38% export share, with the country’s well-developed industry and skilled workforce driving its success in this sector. Market diversification, investment in research and development, and sustainable practices are key factors contributing to Malaysia’s position as a leading exporter in the global market.
List of Malaysia main export: Malaysia Exports by HS Code
The List of Top Exports of Malaysia showcases the country’s diverse range of export products categorized by HS Code, highlighting its position in the global market. Malaysia, as a significant player in international trade, has seen its top exports span various industries, including electronics, palm oil, rubber products, and machinery. Through meticulous analysis of Malaysia’s exports by HS Code, one can gain insights into the country’s export strengths and key markets. The top 10 exports from Malaysia, as per Malaysia customs data and Malaysia export data are:
1. Electrical machinery and equipment (HS code 85)
The top export category for Malaysia in 2024 is electrical machinery and equipment, with a total value of $119.18 billion. This category accounts for a significant 38.08% of Malaysia’s total exports. Malaysia is known for its expertise in producing high-quality electrical machinery, which is in demand worldwide.
2. Mineral fuels and oils (HS code 27)
Mineral fuels and oils are the second-largest export category for Malaysia, with a total export value of $51.69 billion. This category represents 16.52% of Malaysia’s total exports. Malaysia is rich in natural resources, including oil and gas, which contributes to its strong export performance in this category.
3. Nuclear reactors and machinery (HS code 84)
Nuclear reactors and machinery rank third in Malaysia’s top exports, with a total export value of $23.95 billion. This category represents 7.65% of Malaysia’s total exports. Malaysia’s expertise in manufacturing machinery and equipment is reflected in its strong export performance in this category.
4. Animal or vegetable fats and oils (HS code 15)
The export of animal or vegetable fats and oils is another significant category for Malaysia, with a total export value of $16.89 billion. This category accounts for 5.4% of Malaysia’s total exports. Malaysia’s agricultural sector plays a key role in the production of fats and oils for export.
5. Optical, medical, or surgical instruments (HS code 90)
Optical, medical, or surgical instruments rank fifth in Malaysia’s top exports, with a total export value of $13.66 billion. This category represents 4.37% of Malaysia’s total exports. Malaysia’s strong manufacturing capabilities in the medical device industry contribute to its export success in this category.
6. Plastics and articles thereof (HS code 39)
Plastics and articles thereof are another important export category for Malaysia, with a total export value of $9.04 billion. This category accounts for 2.89% of Malaysia’s total exports. Malaysia’s plastic industry is known for its innovation and high-quality products.
7. Aluminum and articles thereof (HS code 76)
The export of aluminum and articles thereof is a noteworthy category for Malaysia, with a total export value of $5.96 billion. This category represents 1.9% of Malaysia’s total exports. Malaysia’s aluminum industry has seen steady growth in recent years, contributing to its export performance in this category.
8. Iron and steel (HS code 72)
Iron and steel exports are another significant category for Malaysia, with a total export value of $5.91 billion. This category accounts for 1.89% of Malaysia’s total exports. Malaysia’s iron and steel industry benefits from robust demand both domestically and internationally.
9. Miscellaneous chemical products (HS code 38)
The export of miscellaneous chemical products is an important category for Malaysia, with a total export value of $5.64 billion. This category represents 1.8% of Malaysia’s total exports. Malaysia’s chemical industry is known for its diversity and innovation.
10. Rubber and articles thereof (HS code 40)
Rounding out the top 10 exports of Malaysia are rubber and articles thereof, with a total export value of $5.51 billion. This category accounts for 1.76% of Malaysia’s total exports. Malaysia is a major producer of rubber, and its expertise in this industry is reflected in its export performance.
Malaysia’s Top Export: Rise of Electronics & Electrical Machinery in Malaysia
In recent years, Malaysia has seen a significant increase in the production and export of electronics and electrical machinery, as per the Asia trade data. This growth can be attributed to several factors, including the country’s strategic location, skilled workforce, and government policies that promote investment in the technology sector. With the rise of digitalization and automation, the demand for electronic products has surged globally. Malaysia has capitalized on this trend by developing a strong manufacturing base for electronics and electrical machinery.
Conclusion
In conclusion, electronics and electrical machinery have emerged as Malaysia’s biggest exports due to a combination of factors, including global demand, competitive advantage, innovation, government support, and strategic partnerships. With a strong foundation and a forward-thinking approach, Malaysia’s electronics industry is well-positioned to thrive in the ever-evolving global market.