Country intelligence · MYS · 2024

Malaysia trade profile

In 2024, Malaysia recorded $378.1B in merchandise exports and $318.3B in imports, producing a $59.8B trade surplus. Exports changed +6.4% from the previous year, while imports changed +12.5%.^[1]

Exports

$378.1B

+6.4%

Imports

$318.3B

+12.5%

Trade balance

$59.8B

surplus

Active partners

1080

48 FTA-linked

Historical evidence

Ten-year trade movement

The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

ExportsImports

Exact annual values

Year	Exports	Imports	Balance	Export growth
2024	$378.1B	$318.3B	$59.8B	+6.4%
2023	$355.3B	$283.0B	$72.4B	-11.6%
2022	$401.8B	$306.2B	$95.6B	+16.0%
2021	$346.5B	$247.8B	$98.8B	+27.5%
2020	$271.9B	$197.2B	$74.7B	-1.7%
2019	$276.6B	$209.6B	$67.0B	-1.3%
2018	$280.3B	$216.0B	$64.3B	+13.4%
2017	$247.2B	$197.2B	$50.1B	+13.4%
2016	$217.9B	$174.3B	$43.7B	-4.7%
2015	$228.6B	$186.9B	$41.7B	-12.2%

Leading export sectors

HS2 chapters rank broad product groups by observed export value in 2024.

HS 85 · Electrical machinery

262 active HS6 lines · 195 export partners

$127.7B

HS 27 · Mineral fuels and oils

42 active HS6 lines · 152 export partners

$81.4B

HS 84 · Machinery

515 active HS6 lines · 197 export partners

$41.0B

HS 15 · HS chapter

48 active HS6 lines · 188 export partners

$18.3B

HS 90 · HS chapter

142 active HS6 lines · 191 export partners

$17.0B

HS 39 · HS chapter

129 active HS6 lines · 197 export partners

$9.1B

HS 40 · HS chapter

80 active HS6 lines · 184 export partners

$6.7B

HS 76 · HS chapter

35 active HS6 lines · 152 export partners

$6.6B

Leading export markets

Destinations rank bilateral export flows from Malaysia; growth describes each corridor rather than the whole economy.

China

Annual change +8.1% · 3-year CAGR 4.1%

$89.1B

Singapore

Annual change +4.8% · 3-year CAGR 1.3%

$48.3B

United States

Annual change +19.5% · 3-year CAGR 2.4%

$43.4B

Japan

Annual change -2.5% · 3-year CAGR -1.1%

$17.8B

Taiwan

Annual change +52.2% · 3-year CAGR 11.1%

$14.8B

Thailand

Annual change +4.2% · 3-year CAGR 4.0%

$13.2B

South Korea

Annual change -5.8% · 3-year CAGR 10.1%

$13.0B

Australia

Annual change -4.5% · 3-year CAGR 6.6%

$11.4B

Sources, definitions and limitations

[1] Primary trade source

OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.

Calculation notes

USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.

Data sources Methodology Open country workspace