Key Market Indicators
Malaysian Fuel Imports Plunge 21% in 2023 KUALA LUMPUR – Malaysian fuel imports have seen a significant decline in 2023, falling to approximately 390 cubic meters from around 490 cubic meters in 2022. This marks a notable 21% decrease from the previous year. The demand for fuel in Malaysia has been on a downward trajectory since 1966, with an average yearly decline of nearly 20%. Meanwhile, Malaysian Fuel Exports Projected to Decline On the export front, Malaysia's fuel exports are projected to reach roughly 2,260 cubic meters by 2028, down from about 2,510 cubic meters in 2023. This represents an annual compound growth rate decline of around 1.7%. Contrasting the import data, Malaysia's fuel supply has seen a substantial increase since 1966, with an average yearly growth of approximately 9%.
