Located in Southeast Asia near powerful trade partners including mainland China, Singapore, Taiwan, Japan, Indonesia and South Korea imported US$300.1 billion worth of products from around the world in 2024.

That dollar amount results from a 53.8% acceleration compared to $189.6 billion five years earlier during 2020.

Year over year, the overall cost of imported goods bought by Malaysia increased by 12.8% from $266 billion in 2023.

Based on the average exchange rate for 2024, the Malaysian ringgit depreciated by -0.3% against the US dollar from 2023 to 2024. Malaysia’s weaker local currency made its imports paid for in stronger US dollars relatively more expensive when converted starting from Malaysian ringgits.

Malaysia’s most valuable imported goods are electronic integrated circuits and microassemblies, refined petroleum oils, crude oil, computers including optical readers, then phone devices including smartphones. That leading quintet of major Malaysian imports amounted to 37% of the Asian countries total import purchases in 2024.

Malaysian imports represent roughly 1.2% of total global imports which totaled $24.09 trillion calculated for 2024.

Malaysia’s Best International Trade Suppliers

The latest available country-specific data shows that 89.2% of products imported into Malaysia was furnished by exporters in: mainland China (26.4% of the Malaysian total), Singapore (13.1%), United States of America (13.1%), Japan (8.6%), Thailand (5.7%), Saudi Arabia (5.4%), South Korea (4.7%), Taiwan (4.4%), Indonesia (2.24%), Germany (2.17%), United Arab Emirates (1.9%) and Vietnam (1.4%).

From a continental perspective, almost three-quarters (72.4%) of Malaysia’s total imports by value in 2024 were purchased from fellow Asian countries. Trade partners based in North America furnished another 10.2% of imports bought by Malaysia while 9.5% worth originated from Europe.

Smaller percentages came from suppliers in Oceania (2.9%) led by Australia and New Zealand, Africa (2.6%) then Latin America (2.4%) excluding Mexico but including the Caribbean.

Given Malaysia ‘s population of 33.5 million people, its total $300.1 billion in 2024 imports translates to about $9,000 in yearly product demand from every person in the Southeast Asian country. That per-capita amount exceeds the average $8,050 for 2023.

Malaysia’s Top 10 Imports

The following product groups represent the highest dollar value in Malaysia’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Malaysia.

1. Electrical machinery, equipment: US$86.1 billion (28.7% of total imports)
2. Mineral fuels including oil: $49 billion (16.3%)
3. Machinery including computers: $38.9 billion (13%)
4. Plastics, plastic articles: $9.1 billion (3%)
5. Vehicles: $8.1 billion (2.7%)
6. Optical, technical, medical apparatus: $7.2 billion (2.4%)
7. Gems, precious metals: $6.6 billion (2.2%)
8. Iron, steel: $5.9 billion (2%)
9. Aluminum: $5.4 billion (1.8%)
10. Organic chemicals: $4.8 billion (1.6%)

Malaysia’s top 10 imports accounted for 73.7% of the overall value of Malaysian product purchases from other countries.

The fastest grower among Malaysia’s top imported product categories was machinery including computers via a 54.7% increase from 2023 to 2024.

The second-biggest percentage advance belonged to imported gems and precious metals via a 29.1% improvement, led by gold.

Trailing the above was electrical machinery and equipment thanks to its 18.1% upturn.

Posting year-over-year declines were Malaysia’s imports of mineral fuels including oil (down -3.5% from 2023), vehicles (down -2.4%) then the metals iron and steel (down -0.7%).

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented below is at the more granular 4-digit level.

Malaysia’s Best Imports of Electronic Products

In 2024, Malaysian importers spent the most on the following 10 subcategories of electrical products including consumer electronics.

1. Integrated circuits/microassemblies: US$54.3 billion (up 23.4% from 2023)
2. Phone system devices: $5.9 billion (up 24.7%)
3. Solar power diodes/semi-conductors: $4.2 billion (down -7.9%)
4. Printed circuits: $2.7 billion (down -5%)
5. Electrical converters/power units: $2.2 billion (up 24.9%)
6. Lower-voltage switches, fuses: $2.2 billion (down -5.5%)
7. Insulated wire/cable: $1.6 billion (up 24.7%)
8. Electrical/optical circuit boards, panels: $1.3 billion (up 41.7%)
9. Unrecorded sound media: $1 billion (up 24.1%)
10. Electric storage batteries: $947.2 million (up 41.8%)

Among these import subcategories, Malaysian purchases of electric storage batteries (up 41.8%), electrical and optical circuit boards or panels (up 41.7%), then electrical converters and power units (up 24.9%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Malaysian businesses and consumers.

Malaysia’s Best Imports of Mineral Fuels Including Oil

In 2024, Malaysian importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$26.6 billion (down -7% from 2023)
2. Crude oil: $13.9 billion (up 2.7%)
3. Coal, solid fuels made from coal: $4.5 billion (down -13.7%)
4. Petroleum gases: $2.8 billion (up 28.2%)
5. Petroleum oil residues: $471.4 million (down -7.6%)
6. Coal tar oils (high temperature distillation): $327.8 million (down -14.3%)
7. Coke, semi-coke: $301.6 million (up 16.9%)
8. Asphalt/petroleum bitumen mixes: $123 million (up 12.8%)
9. Petroleum jelly, mineral waxes: $36 million (down -24.3%)
10. Tar pitch, coke: $10.2 million (up 33.5%)

Among these import subcategories, Malaysian purchases of tar pitch or coke (up 33.5%), petroleum gases (up 28.2%) then coke or semi-coke (up 16.9%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported fossil fuel-related products among Malaysian businesses and consumers.

Malaysia’s Best Imports of Machinery Products Including Computers

In 2024, Malaysian importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$10.2 billion (up 153.1% from 2023)
2. Computer parts, accessories: $4.5 billion (up 126.1%)
3. Machinery for making semi-conductors: $4.3 billion (up 76.1%)
4. Turbo-jets: $2.1 billion (up 151.1%)
5. Miscellaneous machinery: $1.7 billion (down -1.6%)
6. Taps, valves, similar appliances: $1.24 billion (up 23.7%)
7. Centrifuges, filters and purifiers: $1.16 billion (up 4.9%)
8. Air or vacuum pumps: $964 million (up 9.4%)
9. Printing machinery: $910.5 million (up 7.3%)
10. Temperature-change machines: $849 million (up 17.7%)

Among these import subcategories, Malaysian purchases of computers including optical readers (up 153.1%), turbo-jets (up 151.1%) then computer parts or accessories (up 126.1%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Malaysian businesses and consumers.

Malaysia’s Best Imports of Plastic Materials and Plastic Products

In 2024, Malaysian importers spent the most on the following 10 subcategories of plastics.

1. Ethylene polymers: US$1.7 billion (up 8.3% from 2023)
2. Polyacetal/ether/carbonates: $1.13 billion (up 19%)
3. Miscellaneous plastic items: $1.07 billion (up 5.4%)
4. Plastic plates, sheets, film, tape, strips: $686.5 million (down -8.3%)
5. Propylene/olefin polymers: $592.1 million (down -2%)
6. Styrene polymers: $535.9 million (up 9.6%)
7. Plastic packing goods, lids, caps: $474.6 million (up 19.6%)
8. Self-adhesive plastic in rolls: $428.6 million (up 26.5%)
9. Acrylic polymers: $297 million (up 6%)
10. Plastic plates, sheets, film, tape, strips: $291.4 million (down -2.9%)

Among these import subcategories, Malaysian purchases of self-adhesive plastic in rolls (up 26.5%), plastic packing goods, lids and caps (up 19.6%), then polyacetal or ether carbonates (up 19%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported plastics among Malaysian businesses and consumers.
 

See also Malaysia’s Top 10 Exports, Malaysia’s Top Trading Partners, Malaysia’s Top 10 Major Export Companies and Top 10 Asian Export Countries

Research Sources:
Central Intelligence Agency, The World Factbook, Country Profiles. Accessed on September 10, 2025

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on September 10, 2025

International Monetary Fund, World Economic Outlook Databases (GDP based on Purchasing Power Parity). Accessed on September 10, 2025

International Trade Centre, Trade Map. Accessed on September 10, 2025