MALAYSIA’S TRADE WITH CHILE: EXPORTS & IMPORTS

MALAYSIA’S TRADE WITH CHILE: EXPORTS & IMPORTS

As of 2023, Malaysia and Chile maintained a dynamic bilateral trade relationship, characterized by a diverse exchange of goods.

🇲🇾 Malaysia’s Exports to Chile

   •   Total Value: Approximately US$133.74 million.
   •   Top Export Categories:
      •   Animal and Vegetable Fats and Oils: US$22.42 million
      •   Rubber and Rubber Products: US$16.22 million
      •   Electrical and Electronic Equipment: US$13.82 million
      •   Furniture and Prefabricated Buildings: US$9.53 million
      •   Cocoa and Cocoa Preparations: US$7.66 million
      •   Machinery and Boilers: US$7.19 million
      •   Glass and Glassware: US$6.19 million
      •   Knit or Crocheted Apparel: US$5.56 million
      •   Miscellaneous Chemical Products: US$4.55 million
      •   Tractors: US$1.95 million

🇨🇱 Chile’s Exports to Malaysia

   •   Total Value: Approximately US$304.1 million.
   •   Top Export Categories:
      •   Copper: US$212.09 million
      •   Ores, Slag, and Ash: US$23.71 million
      •   Fish and Seafood: US$21.32 million 
      •   Wood and Wood Products: US$10.28 million
      •   Pulp of Wood and Related Materials: US$7.34 million 
      •   Beverages, Spirits, and Vinegar: US$6.90 million
      •   Edible Fruits and Nuts: US$4.85 million
      •   Lac, Gums, and Resins: US$4.05 million
      •   Meat and Seafood Preparations: US$3.82 million

🔄 Trade Balance Overview

In 2023, Malaysia experienced a trade deficit with Chile, importing approximately US$304.1 million worth of goods while exporting around US$133.74 million, resulting in a trade deficit of about US$170.36 million.

📈 Strategic Trade Insights

   •   Malaysia’s Export Strengths: The export portfolio to Chile is diverse, encompassing both raw materials like vegetable oils and manufactured goods such as electronic equipment and furniture.

   •   Chile’s Export Dominance: Chile’s exports to Malaysia are heavily concentrated in the mining sector, particularly copper and related ores, reflecting its global position as a leading copper producer.

   •   Trade Agreements: Both nations are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which facilitates reduced tariffs and enhanced trade relations.

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