Malaysia Trade Surplus Beats Forecasts

Malaysia’s trade surplus stood at MYR 28.1 billion in August 2026, up from MYR 15.9 billion in the same month a year earlier and surpassing market expectations of MYR 25.3 billion, as exports grew more than imports. Exports jumped 45.5% year-on-year to MYR 191.1 billion, mainly boosted by a 50.4% jump in manufactured goods, which accounted for 88.8% of total exports, particularly E&E products (66.5%). By destination, exports grew sharply to the US (130.4%), Singapore (58.5%), China (19.9%), Taiwan (102.2%), and the EU (20.0%). Meanwhile, imports jumped 41.1% yoy to MYR 163.0 billion, due mainly to a sharp rise in intermediate goods (50.5%) and capital goods (37.4%). In contrast, consumption goods fell 1.6%. Purchases from China surged 61.3%, those from Singapore soared 59.1%, while those from Taiwan jumped 68.9%. In the first eight months of the year, the trade surplus jumped 127.6% yoy to MYR 198.7 billion, with exports rising 31.2% and imports advancing 22.4%.

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 above 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%.