Malaysia Trade Surplus Beats Estimates

Malaysia’s trade surplus widened slightly to a record high of MYR 19.27 billion in December 2025 from MYR 19.26 billion in December 2024, above expectations of MYR 12.2 billion. Exports rose 10.4% yoy to a record high of MYR 153.0 billion, accelerating from a 7.0% increase in November and exceeding forecasts of a 2.4% rise. The acceleration was mainly driven by manufactured goods, which rose 13.6%, led by strong shipments of electrical and electronic products, which surged 25.3%. Among trading partners, outbound shipments rose to the US (48.8%), Hong Kong (12.0%), Taiwan (34.4%), and the EU (34.8%). Meanwhile, imports surged 12.0% to an all-time high of MYR 133.7 billion, also above expectations for an 8.5% gain. The rise was boosted by higher imports of consumption goods (27.6%), dual- use goods (60.1%), and intermediate goods (3.6%). For the whole of 2025, Malaysia registered a trade surplus of MYR 132.6 billion, with exports and imports falling 3.7% and 3.6%, respectively.

Malaysia’s trade surplus narrowed to MYR 6.1 billion in November 2025, down from MYR 14.8 billion in the same month last year and far below expectations of MYR 17.2 billion, marking the smallest trade surplus since May. Exports rose 7% yoy to MYR 135.0 billion, slowing sharply from a 15.7% jump in October and falling below forecasts of 11.2%. This marked the softest export growth in three months, due to a decline in agricultural shipments. Growth was driven by higher sales in the manufacturing sector (7.9%) and mining (9.9%), with exports rising mainly to Singapore (4.1%), China (9.3%), and the EU (13.2%). Meanwhile, imports surged 15.8% to MYR 128.9 billion, surpassing forecasts of 11.4% gain and marking the fastest growth in seven months. The rise was boosted by higher imports of capital goods (56.8%) and intermediate goods (5.0%). For the first eleven months of 2025, Malaysia recorded a trade surplus of MYR 132.6 billion, with exports and imports rising 6.1% and 5.6%, respectively.

Malaysia’s trade surplus soared to MYR 19.0 billion in October 2025, up from MYR 12.0 billion in the same month last year and exceeding expectations of MYR 16.4 billion, as exports outpaced imports. Exports grew 15.7% year-on-year to a record high of MYR 148.3 billion, following an upwardly revised 12.5% increase in August. This marked the fastest export growth in six months, despite a decline in shipments to the US due to newly imposed tariffs. Growth was driven by higher sales in the manufacturing sector (15.7%), agriculture (20.3%), and mining (8.0%), with exports rising mainly to Singapore (27.2%), China (7.5%), Hong Kong (36.7%), and Japan (6.6%). Meanwhile, imports rose 9.7% to a record MYR 129.3 billion, surpassing forecasts of 5.8% growth, supported by higher imports of capital goods (51.9%) and consumption goods (3.6%). For the first ten months of 2025, Malaysia recorded a trade surplus of MYR 125 billion, with exports and imports rising 6.0% and 4.7%, respectively.