Malaysia Exports Hit Record High

Malaysia’s exports surged 36.9% year-on-year to a record high of MYR 182.7 billion in April 2026, accelerating sharply from March’s upwardly revised 8.4% increase and far exceeding forecasts of 9.0%, marking the strongest growth since August 2022, despite facing global uncertainties. Growth was mainly driven by the manufacturing sector, which soared 40.1%, particularly in electrical and electronic products (46.4%) and petroleum products (70.2%). Meanwhile, mining exports jumped 25.6%, supported by liquefied natural gas exports (4.8%). However, the increase was partially offset by a decline in crude petroleum exports (-18.4%). At the same time, agricultural exports rose 5.2%, reflecting higher sales of palm oil and palm-based products (4.1%) and other agricultural products (0.4%). For the first four months of 2026, exports climbed 19.0% from the same period last year to MYR 609.3 billion.

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.