The export of iron ores and concentrates from Malaysia has demonstrated significant fluctuations over the past decade. In 2023, the export value stood at $1144.1 million, showing a year-on-year growth of 4.71%. The last two years saw variations with a 5.05% increase in 2022 and a 27.02% jump in 2021, reflecting significant growth. From 2018 to 2023, the Compound Annual Growth Rate (CAGR) was 6.02%. Over the past five years, from 2019 to 2023, the growth was more stable compared to earlier years which were marked by high fluctuations.

Future trends to watch for include:

Forecasted steady growth with a 5-year CAGR of 3.31% from 2023 to 2028.
The value of exports is expected to increase to $1412.8 million by 2028.
Monitoring global iron ore prices and trade policies that may impact export volumes and values.