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15 MARCH 2018 AL CIRCLE

Data shows upward pattern for Malaysia’s imports of aluminium wire in last three years

EDITED BY : HEENA IQBAL 1MINS READ

Malaysia imported MYR 73.2 billion worth of products around the world in January 2018, an increase of 11.6 per cent year-on-year. Imports of aluminium wire by Malaysia have been growing with each passing year. The automotive and construction sector is driving the market for aluminium wire worldwide. The country is expected to witness a surge in import of aluminium wires this year.

The top aluminium wire exporter to Malaysia is Indonesia.  Indonesia exported an estimated 4964 tonnes in 2017. The country imports major chunk of aluminium wire from Australia, China, Japan and Vietnam.

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As per global import-export data, Malaysia imported an estimated 11708 tonnes of aluminium wire in 2016. Import volume increased to stand at 14617 tonnes in 2017. In 2018, the estimated aluminium wire import is expected to reach 17045 tonnes.

The total aluminium wire import was valued at US$31 million in 2016, which increased to reach US$40 million in 2017. In 2018, the value of imports of aluminium wire is also estimated to increase in 2018. Aluminium wire imports are to be valued at US$43 million (estimated).


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EDITED BY : HEENA IQBAL 1MINS READ

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