Malaysia Imports Rise Less than Expected

Malaysia's imports rose 14.1% yoy to MYR 143.62 billion in May 2026, slowing from April's 20.0% jump, the fastest growth since August 2024. The latest result also fell short of market forecasts of 15.5%, pointing to softer domestic demand amid a weaker ringgit, which increased the cost of imported goods. Purchases grew for intermediate goods (14.4%), but fell for capital goods (-18.3%), consumption goods (-2.7%), and dual-use goods (-134.9%). Sector-wise, manufacturing imports climbed 18.7%, led by E&E products (23.0%) and petroleum products (41.7%). In contrast, mining purchases fell 8.7%, dragged by crude oil (-4.1%) and metalliferous ores and metal scrap (-9.4%). Also, agricultural imports dipped 6.0%, weighed by palm oil products (-33.6%). Imports grew from China (38.7%), Japan (18.5%), India (31.7%), the EU (16.8%), and ASEAN countries (28.5%), but shrank from the U.S. (-32.0%). For January to May, imports grew 11.8% from the same period in 2025 to MYR 661.07 billion.

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.