Malaysia Trade Surplus Expands in July

Malaysia’s trade surplus amounted to MYR 22.5 billion in July 2026, widening from MYR 14.8 billion in the same month a year earlier and exceeding market expectations of MYR 17.5 billion, as exports rose more than imports. Exports jumped 38.0% year-on-year to MYR 193.6 billion, mainly driven by a 42.6% surge in manufactured goods, which accounted for 89.8% of total exports, particularly E&E products (51%). By destination, exports rose sharply to the US (79.8%), Singapore (16.7%), China (30.2%), Taiwan (96%), and the EU (37%). Imports increased 36.4% to MYR 171.1 billion, primarily due to a sharp increase in intermediate goods (40.8%), followed by capital goods (24%) and consumption goods (5.2%). China (60.1%) and Singapore (53.8%) remained Malaysia’s two major sources of imports. In January–July, the trade surplus widened sharply to MYR 170.5 billion, more than double the MYR 71.4 billion recorded last year, as export growth (29.2%) outpaced the rise in imports (19.8%).

Malaysia’s trade surplus widened to MYR 14.9 billion in May 2026 from MYR 9.0 billion in the same month last year, as exports grew faster than imports. Exports surged 45.4% year-on-year to MYR 177.9 billion, marking the strongest growth since August 2022, mainly driven by the manufacturing sector, which jumped 47.3%, particularly electrical and electronic products (56.9%) and petroleum products (55.6%). By destination, exports grew sharply to the US (108.6%), Singapore (47.6%), China (36.1%), and the EU (29.7%). Imports surged 43.9% yoy to a record MYR 163.0 billion, the fastest increase since August 2022, supported by higher purchases of intermediate goods (41.3%), consumption goods (17.2%), and capital goods (67.4%). Import growth was strongest from China (56.6%), followed by Singapore (84.2%) and Taiwan (35.1%), while imports from the US plunged 38.0%. For H1 of the year, the country’s trade surplus reached MYR 147.1 billion, with exports soaring 27.5% and imports climbing 16.9%.

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%.