Malaysia Exports YoY

Malaysia’s exports climbed 8.3% year-on-year to a three-month high of MYR 148.8 billion in March 2026, easing from February’s downwardly revised 10.7% rise, as Middle East tensions weighed on global trade flows. Growth was driven by manufacturing, which expanded 9.6%, particularly in electrical and electronic products (15.0%) and petroleum products (23.7%). Meanwhile, mining exports fell 0.4%, weighed down by liquefied natural gas (-17.5%). However, this decline was partially offset by increases in crude petroleum (0.8%) and metalliferous ores and metal scrap (13.8%). At the same time, agricultural exports dropped 7.8%, reflecting lower sales of palm oil and palm-based products (-6.1%) and natural rubber (-45.9%). 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 2026, exports rose 12.7% from the same period last year to USD 426.5 billion.

Malaysia’s exports rose 10.8% year-on-year to MYR 131.0 billion in February 2026, below the expected 11.9% increase and slowing from January’s 19.6% jump. Growth was led by manufacturing, which expanded 12.8%, particularly in electrical and electronic products (28.5%) and optical and scientific equipment (42.9%). Mining exports also increased 12.3%, driven mainly by metalliferous ores and metal scrap (443.7%) and crude petroleum (6.4%). However, these gains were partially offset by a 16.4% decline in agricultural exports, reflecting lower sales of palm oil and palm-based products (-13.7%), other vegetable oils (-8.8%), and natural rubber (-47%). By destination, exports rose sharply to the US (42.3%), with notable increases to China (13.2%), the EU (33.9%), Hong Kong (32.6%), and Taiwan (65.9%). Overall, for the first two months of 2026, exports were 15.2% higher than the same period last year.

Malaysia’s exports soared 19.6% yoy to MYR 146.87 billion in January 2026, exceeding market forecasts of 13.7% and picking up strongly from a marginally revised 10.2% gain in the prior month. It also marked the strongest annual export growth since September 2022, boosted by solid external demand ahead of the Lunar New Year and Ramadan across key Asian markets. Manufacturing shipments climbed 22.3%, supported by E&E products (39.5%) and optical & scientific equipment (36.2%). Mining exports grew 2.7%, mainly lifted by metalliferous ores and metal scrap (207.7%). In contrast, arrivals of agricultural products fell 2.7%, largely weighed by palm oil (-2.3%). By destinations, sales increased to most countries, including the U.S. (33.9%), China (16.1%), the EU (26.0%), Hong Kong (58.0%), Taiwan (79.4%), Vietnam (60%), India (35.7%), and ASEAN (7.1%). In contrast, exports fell to Japan (-0.4%) and Australia (-22.0%). In 2025, total exports dipped 3.7% from a year earlier to MYR 1.6 trillion.