According to data compiled by SteelRadar from the Malaysian Department of Statistics, Malaysia's billet exports almost doubled by 91.7% to 957,801 tons in the first seven months of 2024. Similarly, slab exports in the January-July period increased by almost 400%, reaching a total of 1.326 million tons. Türkiye accounted for 59.3% of Malaysia’s billet exports and 74% of its slab exports.
According to data compiled by SteelRadar from the Turkish Statistical Institute (TUIK), Malaysia exported 163,391 tons of billets and blooms to Türkiye in January-December 2023, ranking 4th. Russia, Algeria, and Oman were the top three countries in this period, respectively.
In January-July 2024, Malaysia ranked 3rd with 211,828 tons of billet and bloom exports. Russia maintained its top position with 321,417 tons, while Indonesia ranked second with 216,872 tons. This ranking shows that trade dynamics have changed in 2024 compared to last year.
The free trade agreement between Malaysia and Türkiye has made Türkiye the most important buyer of Malaysia's semi-finished products. In addition, Malaysia's increasing export volume indicates that it could potentially surpass other countries exporting to Türkiye in the future.
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