Malaysia Trade Surplus Largest in Near 3 Years

Malaysia’s trade surplus soared to MYR 40.4 billion in April 2026 from MYR 0.8 billion in the same month last year, surpassing market expectations of MYR 23.2 billion. It was the largest trade surplus on record, as exports grew much faster than imports. Exports jumped 45.3% year-on-year to a record high of MYR 184 billion, mainly driven by the manufacturing sector, which soared 51.7%, particularly in electrical and electronic products (70.5%) and petroleum products (74.2%). By destination, exports grew sharply to the US (97.7%), Singapore (40.4%), China (27.8%), and the EU (45.0%). Imports rose 14.1% year-on-year to MYR 143.6 billion, supported by higher purchases of intermediate goods (14.4%). Import growth was strongest from Singapore (43.9%), followed by China (38.7%) and Taiwan (31.4%), while imports from the US slumped 32.0%. For the first five months of the year, the country’s trade surplus reached MYR 132.8 billion, with exports rising 24.3% and imports climbing 14.6%.

Malaysia’s trade surplus surged to MYR 28.8 billion in April 2026 from MYR 5.1 billion in the same month last year, surpassing market expectations of MYR 16.6 billion. It was the largest trade surplus since June 2023, as exports grew faster than imports. Exports jumped 36.9% yoy to a record high of MYR 182.7 billion, mainly driven by the manufacturing sector, which soared 40.1%, particularly in electrical and electronic products (46.4%) and petroleum products (70.2%). By destination, exports grew sharply to the US (39.0%), Singapore (23.2%), and China (39.2%). Imports climbed 11.2% yoy to a record peak of MYR 154 billion, supported by higher purchases of consumption goods (5.6%). Import growth was strongest from China (36.8%) and Singapore (45.7%), while imports from the US plunged 48.1%. For the first four months of the year, the country’s trade surplus reached MYR 91.9 billion, with exports and imports advancing 19.0% and 11.1%, respectively.

Malaysia’s trade surplus narrowed slightly to MYR 24.6 billion in March 2026, from MYR 24.8 billion in the same month last year. Imports rose 10.4% year-on-year to MYR 124.2 billion, driven by higher purchases of capital goods (24.7%), while imports of consumption goods (-7.8%) and intermediate goods (-1.1%) declined. Import growth was strongest from China (27.8%) and Singapore (28.8%), while imports from both Taiwan and the U.S. grew 12.3% each. Meanwhile, exports increased 8.3% year-on-year to a three-month high of MYR 148.8 billion, driven by manufacturing, which expanded 9.6%, particularly in electrical and electronic products (15.0%) and petroleum products (23.7%). By destination, exports increased sharply to the U.S. (18.3%), while shipments to China rose 7.0%, Hong Kong increased 19.2%, and Taiwan surged 45.0%. For the first quarter of the year, the country’s trade surplus reached MYR 63.2 billion, with exports and imports rising 12.7% and 7.7%, respectively.