Malaysia July Export Growth Beats Forecasts

Malaysia's exports jumped 38.0% year-on-year to MYR 193.6 billion in July 2026, exceeding market expectations of 34.3% growth but slowing from a revised 45.5% surge in June. The value of exports during the month was the largest on record, mainly driven by a 42.6% increase in manufactured goods, which accounted for 89.8% of total exports, notably electrical and electronics products (51%). Exports of mining products rose 9.6% due to higher shipments of LNG (14.1%) and metalliferous ores and metal scrap (115.2%). Exports of agricultural products also increased 5.6%, particularly palm oil and palm-based agricultural products (7.8%). Exports to all ten major destinations registered growth, led by the US (79.8%), Singapore (16.7%), China (30.2%), Taiwan (96%), the EU (37%), Hong Kong (58.7%), Vietnam (77.3%), Japan (21.9%), Thailand (37.5%), and India (45%). For January–July, exports totaled MYR 1,165.2 billion, up 29.2% from the same period last year.

Malaysia's exports surged 45.4% year-on-year to MYR 177.9 billion in June 2026, accelerating from a downwardly revised 44.7% increase in May and marking the strongest annual growth since August 2022. Exports soared in the manufacturing sector (47.3%), supported by robust shipments of electrical and electronic products (56.9%), petroleum products (55.6%), and optical and scientific equipment (42.7%). Overall exports were also boosted by higher shipments in the mining sector (97.5%), particularly liquefied natural gas (83.3%). In contrast, agricultural exports fell 7.2%, weighed down by lower shipments of palm oil and palm-based products (-10.8%) as well as sawn timber and mouldings (-14.7%). By destination, exports to the United States more than doubled (108.6%), while shipments to Singapore (47.6%), China (36.1%), and Taiwan (44.7%) also recorded strong gains. For the first half of the year, total exports jumped 27.5% from a year earlier to MYR 971.6 billion.

Malaysia’s exports jumped 45.3% year-on-year to a record high of MYR 184 billion in May 2026, after an upwardly revised 37.3% increase in April and far exceeding forecasts of 32.4%, marking the strongest growth since August 2022 despite global uncertainties. Growth was mainly boosted by the manufacturing sector, which surged 51.7%, particularly in electrical and electronic products (70.5%) and petroleum products (74.2%). Meanwhile, mining exports soared 36.5%, supported by liquefied natural gas exports (111.5%). However, the increase was partially offset by a decline in crude petroleum exports (-67.1%). By contrast, agricultural exports plunged 22.9%, reflecting lower sales of palm oil and palm-based products (-24.6%) and natural rubber (-22.9%). By destination, exports grew sharply to the US (97.7%), Singapore (40.4%), China (27.8%), and the EU (45.0%). For the first five months of 2026, exports jumped 24.3% from the same period last year to MYR 793.8 billion.