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Enhanced global steel trade monitoring
Steel Imports Report: Malaysia
Background
Malaysia was the world’s 18th-largest steel importer in 2017. In 2018, Malaysia imported 7.9 million metric tons of steel, an 4 percent increase from 7.6 million metric tons in 2017. Malaysia’s imports in 2017 represented about 2 percent of all steel imported globally, based on available data. The volume of Malaysia's steel imports in 2018 was a little more than a third the size of the world’s fourth-largest and Asia’s largest importer, South Korea. In value terms, steel represented just 3.1 percent of the total goods imported into Malaysia in 2018.
Malaysia imported steel from more than 65 countries and territories in 2018. The 10 countries highlighted in the map below represent the top sources for Malaysia's imports of steel, with Malaysia receiving more than 150 thousand metric tons from each and together accounting for 92 percent of Malaysia’s steel imports in 2018.
Malaysia is a net importer of steel mill products. Since 2009, Malaysia’s level of steel imports has been trending upwards. Between 2009 and 2018, Malaysia’s imports increased by 107 percent. Over the same period, Malaysia’s steel exports gradually declined by 43 percent. Between 2009 and 2018, Malaysia’s steel trade deficit grew from -944 thousand metric tons to -6.2 million metric tons. Between 2017 and 2018 alone, Malaysia’s steel trade deficit grew 5 percent, from -5.9 million metric tons to -6.2 million metric tons.
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