Malaysia Trade Surplus Largest in Near 3 Years

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.

Malaysia’s trade surplus widened to MYR 16.7 billion in February 2026, from MYR 12.6 billion in the same month last year, though it fell short of market expectations of MYR 20.8 billion and marking the smallest trade surplus since November 2025. Imports rose 8.2% year-on-year to MYR 114.2 billion, as purchases increased across all three main categories by end use, namely intermediate goods (0.8%), capital goods (15.4%), and consumption goods (1.5%). Import growth was strongest from China (27.3%), South Korea (86.8%), and Taiwan (36.4%). Meanwhile, exports grew 10.8% year-on-year to an eight-month low of MYR 131 billion, despite higher sales in manufacturing (12.8%), mining (12.3%), and other sectors (30.4%), which offset a decline in agriculture exports (-16.4%). Among trading partners, exports rose the most to the US (42.3%), Taiwan (65.9%), and the EU (33.9%). Considering the first two months of the year, the country's trade surplus reached MYR 38.7 billion.