Malaysia Imports Notch Record Peak

Imports to Malaysia surged 20% yoy to a record high of MYR 153.99 billion in April 2026, accelerating from a 10.4% increase in the prior month and marking the fastest growth since August 2024. The latest result was far above market forecasts of a 2.5% growth, amid robust domestic demand despite ongoing disruptions from the war in Iran. By categories, purchases rose for consumption goods (5.6%) and dual-use goods (101.2%), but fell for capital goods (-20.7%) and intermediate goods (-18.8%). Sector-wise, manufacturing imports jumped 22.5%, led by E&E products (12.1%) and petroleum products (141.0%). Mining purchases soared 25.6%, boosted by metalliferous ores and metal scrap (78.6%). However, agricultural imports dipped 12.3%, weighed by natural rubber (-21.5%). Imports grew from China (36.8%), Japan (20.1%), India (128.2%), the EU (6.5%), and ASEAN (38.7%), but shrank from the U.S. (-48.1%). For January to April, imports grew 11.1% from the same period in 2025 to MYR 517.40 billion.

Imports to Malaysia rose 10.4% yoy in March 2026, accelerating from an 8.2% increase in the previous month and marking the fastest growth since November. The stronger purchases pointed to resilient domestic demand, even as global trade flows face disruptions from the ongoing Iran conflict. Imports by broad economic categories & end use increased for capital goods (24.7%) but fell for both consumption goods (-7.8%) and intermediate goods (-1.1%). By sector, manufacturing imports climbed 16.4%, led by E&E products (29.3%) and machinery and equipment (22.0%). However, mining purchases tumbled 25.7%, dragged by crude petroleum (-60.6%). Agricultural imports plunged 29.5%, pressured by natural rubber (-30.3%) and palm oil (-26.4%). Imports expanded from China (27.8%), Japan (6.5%), Vietnam (47.3%), the U.S. (12.3%), the EU (0.4%), and ASEAN (16.4%), but shrank from Australia (-5.2%) and India (-5.2%). For January to March, imports rose 7.7% from the same period in 2025 to MYR 363.3 billion.

Imports to Malaysia increased 8.2% year-on-year to MYR 114.24 billion in February 2026, exceeding market expectations of a 5.4% growth and following a downwardly revised 4.8% rise in January. The three main import categories by end use, which together accounted for 73.8% of total imports, all recorded positive growth: intermediate goods (0.8%), capital goods (15.4%), and consumption goods (1.5%). By sector, manufacturing imports climbed 15.1%, primarily driven by a 36.3% surge in electrical and electronic products. In contrast, imports of agricultural products fell 26.0%, and mining products declined 37.2%. Among key trading partners, China remained the largest source of Malaysian imports (27.3%), followed by Taiwan (36.4%), the EU (9.0%), South Korea (86.8%), Japan (6.8%), Thailand (1.8%), and Vietnam (47.2%). Imports from Singapore (-5.6%), the US (-18.0%), and Indonesia (-10.5%) dropped.