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What Are the Biggest Export Markets in Malaysia?

April 2, 2015 | Sharon Cheong

For centuries, Malaysia has been known as a crossroads of trade between the West and the East and that tradition continues today. In addition, the country stretches the length of the Strait of Malacca making it a globally important shipping lane. The Malaysian government has capitalized on these facts and transformed the economy from primarily agricultural to a significant international manufacturing center.

Manufactured goods make up 76% of Malaysia's gross domestic product. Though the region has always been involved in mining, today this industry only makes up 15% of the gross domestic product. Agricultural goods comprise 7.8% of the GDP with only .7% in the category of “other”.

The Government of Malaysia works closely with the private business sector and investors to develop the Malaysian economy even further. They embrace policies and programs designed to bolster the economy and welcome entrepreneurs from around the world.

China is a major importer of Malaysian products, and 12% of China's imported products and services come from Malaysia. The second biggest export market is Singapore. Each year, Malaysia exports billions of dollars' worth of goods and services around the world.

Manufactured Goods

This is a huge category that includes everything from furniture and household appliances to electronics and building materials. Other important manufactured goods are beauty products, machinery, foods and beverages. Chemicals, dyes, pigments and alloys are a growing industry. Due to the high quality of Malaysian manufactured goods, the region is a favorite investment destination.

The Mining Industry

For many years,Malaysia has been known as a major tin producer. Higher mineral prices have bolstered the mining industry and today copper is a leading mining export as well. Copper is used in the manufacture of cookware, electronic components, building supplies and many others.Malaysia also has gold mines, bauxite mines, and ilmenite mines, which is a titanium iron oxide mineral.

Agricultural Goods

Recent figures show that about 16% ofMalaysia's population is involved in agriculture at some level. The climate makes it an ideal location for growing important products like coconuts, rice, cocoa, pineapples, bananas and rubber trees, just to name a few. About 24% of Malaysia's land area is dedicated to some form of agriculture. These products are shipped all over the world, but many are used in the manufacture of other products.

Serviced Office Space

Though establishing an import/export business in Malaysia can be very profitable, entrepreneurs don't always have the time and money to set up independent offices for their new company. Many choose serviced offices. These are beautifully furnished and located in Malaysia's Central Business District. They're available with phones, internet and trained personnel.  Servcorp Serviced Offices are located in the most prestigious locations of the city.

Exclusive Business Centers

Servcorp Serviced Offices specialize in making it very affordable for industrialists to set up a professional business, offering advanced communication technologies that can give you the clear advantage over the competition.  Meeting rooms and boardrooms are completely furnished with high-class, comfortable furnishings.  Why not take advantage of these cost saving ideas for your new business? Please contact Servcorp to learn more.