Export And Import Of Spectacles And Other Optical Goods Companies in Malaysia

The Malaysian government offers many incentives to companies engaged in the export and import of spectacles and other optical goods. These incentives include tax holidays, duty-free import of raw materials, and preferential treatment in government contracts.

The optical goods industry is one of the few manufacturing industries in Malaysia that is export-oriented. In 2017, the industry exported RM 3.4 billion worth of optical goods, accounting for 3.4% of Malaysia’s total exports. The top five destinations for Malaysian optical goods exports were Singapore (30%), the United States (19%), China (9%), the United Kingdom (6%), and Japan (5%).

The optical goods industry in Malaysia is highly fragmented, with over 1,000 companies registered with the Ministry of International Trade and Industry (MITI). The industry is dominated by small and medium enterprises (SMEs), which account for 97% of all companies in the sector.

The main raw materials used in the production of optical goods are plastic and glass. Malaysia is a net importer of these raw materials, with imports totaling RM 1.6 billion in 2017. The United States (19%), China (17%), and Japan (16%) were the top three sources of imported raw materials for the optical goods