Malaysia Exports Unexpectedly Fall

Exports from Malaysia unexpectedly shrank by 3.5% yoy to a four-month low of MYR 126.6 billion in June 2025, missing forecasts of a 5.6% increase and following an upwardly revised 1.2% drop in May.

This marked the second straight month of decline and the steepest fall in exports since December 2023, driven largely by a 9.3% drop in shipments to China, Malaysia’s top trading partner.

By sector, mining exports plunged 28.7%, led by steep declines in LNG (-26.5%) and crude petroleum (-42.7%).

Manufacturing exports also fell 3.3%, weighed down by a 28.1% drop in petroleum products.

In contrast, agricultural exports surged 17.5%, mainly due to strong demand for palm oil and related products, which jumped 24.7%.

By destination, exports also declined to Singapore (-16.9%) and Japan (-1.6%), while exports to the US grew 4.7% as factories rushed to ship goods ahead of the August deadline, following tariff warnings.

For H1 of 2025, total exports rose 3.8% yoy to MYR 760.2 billion.