KUALA LUMPUR — Malaysia’s trade performance in April 2026 remained resilient, supported by continued expansion in key export markets and products. Despite heightened global uncertainties stemming from geopolitical tensions in the West Asia which led to higher logistic costs, supply chain disruptions and commodity price volatility, Malaysia’s trade maintained its stellar performance in April 2026 and continued an upward trajectory, with trade, exports and imports registering their highest monthly values ever.
Trade increased by 28.6 per cent year-on-year (y-o-y), the fastest growth recorded since September 2022, reaching RM336.73 billion. Exports sustained their growth momentum for the 10th consecutive month, rising 36.9 per cent to RM182.74 billion, a huge jump of RM30 billion from the previous high (December 2025: RM152.77 billion). Meanwhile, imports expanded by 20.0 per cent to RM153.99 billion. This resulted in a trade surplus of RMRM28.75 billion, marking the 72nd consecutive month of surplus since May 2020.
The growth in exports was primarily driven by double-digit expansion in major export products, led by electrical and electronic (E&E) products, which rose RM28 billion to a new record high, primarily supported by strong demand from the artificial intelligence (AI) and automotive electronics segments. The expansion was further bolstered by remarkable increases in exports of petroleum products, manufactures of metal, optical and scientific equipment as well as machinery, equipment and parts. Notably, exports of optical and scientific equipment as well as machinery, equipment and parts recorded the highest monthly values thus far.
In terms of markets, exports to all major trading partners, namely ASEAN, the People’s Republic of China (China), the United States (US), Taiwan and the European Union (EU), recorded strong double-digit growth, with exports to ASEAN, Taiwan and the EU reaching new record highs. Meanwhile, Malaysia’s extensive network of Free Trade Agreements (FTAs) continued to facilitate market access and diversify export destinations. Leveraging these agreements, exports to FTA partners remained on an upward trajectory, with exports to among others, Hong Kong Special Administrative Region of China (Hong Kong SAR), the Republic of Korea (ROK), Australia, India and Turkiye expanding steadily to new record highs, supported by robust demand across a broad range of products.
The country’s trade performance continued to strengthen in the January to April 2026 period, with trade surpassing the RM1 trillion mark within four months, a month earlier compared to the previous year. Trade increased by 15.3 per cent to RM1.127 trillion compared to the corresponding period in 2025, driven by higher exports which rose 19.0 per cent to RM609.31 billion and imports which expanded by 11.1 per cent to RM517.40 billion. Consequently, the trade surplus doubled from the previous year to RM91.92 billion. Trade, exports, imports and trade surplus all recorded their highest levels for the period.
According to the Department of Statistics Malaysia (DOSM), Malaysia’s economy recorded an encouraging performance in the first quarter (Q1) of 2026, with Gross Domestic Product (GDP) rising 5.4 per cent y-o-y, stronger than the 4.4 per cent growth recorded in the Q1 2025. Meanwhile, the International Monetary Fund (IMF) economic outlook on Malaysia remains favourable amid global headwinds. In its April 2026 World Economic Outlook (WEO), the IMF revised upward Malaysia’s real GDP growth forecast to 4.7 per cent for 2026, reflecting confidence in the country’s macroeconomic fundamentals, sustained domestic demand and favourable export performance.
Export Performance of Major Sectors
Exports of Manufactured Goods Reached New High
In April 2026, exports of manufactured goods, which accounted for 88.7 per cent of total exports, surged by 40.1 per cent to RM162.13 billion, the highest monthly value ever recorded. The expansion was driven by higher exports of E&E products, petroleum products and manufactures of metal. Notably, exports of E&E products reached new monthly high.
Meanwhile, exports of mining goods (5.6 per cent share) rose 25.6 per cent y-o-y to RM10.20 billion on robust exports of metalliferous ores and metal scrap.
Exports of agriculture goods (4.9 per cent share) rebounded by 5.2 per cent to RM8.91 billion, contributed by increased export value of palm oil and palm oil-based agriculture products following higher export volumes and prices.
Major exports in April 2026:
- E&E products, valued at RM88.16 billion and accounted for 48.2 per cent of total exports, increased by 46.4 per cent compared to April 2025;
- Petroleum products, RM14.47 billion, 7.9 per cent of total exports, ↑70.2 per cent;
- Machinery, equipment and parts, RM8.19 billion, 4.5 per cent of total exports, ↑26.6 per cent;
- Manufactures of metal, RM7.28 billion, 4.0 per cent of total exports, ↑42.7 per cent; and
- Optical and scientific equipment, RM7.11 billion, 3.9 per cent of total exports, ↑40.9 per cent.
On a month-on-month (m-o-m) basis, exports of manufactured, mining and agriculture goods recorded expansion of 24.0 per cent, 16.2 per cent and 18.0 per cent, respectively.
During the first four months of 2026, exports of manufactured goods surged by 21.3 per cent to RM534.44 billion compared to the corresponding period in 2025, supported by robust exports of E&E products, optical and scientific equipment as well as petroleum products. Exports of mining goods climbed by 9.9 per cent to RM35.84 billion due to higher shipments of metalliferous ores and metal scrap. Exports of agriculture goods, however slipped by 5.2 per cent to RM32.63 billion on lower exports value of palm oil and palm oil-based agriculture products as well as natural rubber.
Trade Performance with Major Markets
In April 2026, Malaysia’s trade with major trading partners namely ASEAN, China, the US, Taiwan and the EU, accounted for 71.0 per cent share of total trade.
ASEAN – Exports to All Markets Recorded Double-Digit Expansion
In April 2026, trade with ASEAN which contributed 27.0 per cent to Malaysia’s total trade increased by 34.3 per cent y-o-y to RM90.83 billion. Exports posted the highest monthly value ever recorded, with an expansion of 31.4 per cent to RM53.47 billion. This was underpinned by robust exports of E&E products, petroleum products as well as chemicals and chemical products. Imports from ASEAN were up by 38.7 per cent to RM37.36 billion.
Breakdown of exports to ASEAN countries:
- Singapore RM28.32 billion, increased by 23.2 per cent, y-o-y;
- Thailand RM7.58 billion, ↑30.9 per cent;
- Viet Nam RM7.53 billion, ↑65.0 per cent;
- Indonesia RM5.77 billion, ↑36.0 per cent;
- Philippines RM3.04 billion, ↑30.7 per cent;
- Cambodia RM472.7 million, ↑73.1 per cent;
- Myanmar RM378.3 million, ↑50.1 per cent;
- Brunei RM372.9 million, ↑52.7 per cent;
- Lao PDR RM7.0 million, ↑69.7 per cent; and
- Timor-Leste RM4.6 million, ↑24.7 per cent.
Exports to all markets in ASEAN recorded double-digit expansion particularly to Singapore which grew by RM5.33 billion y-o-y, Thailand RM1.79 billion and Vietnam RM2.97 billion, led by higher exports of E&E products. Meanwhile, exports to Indonesia and the Philippines increased by RM1.53 billion and RM714.5 million, respectively due to higher shipments of petroleum products. Exports to the Philippines, Singapore, Vietnam and Thailand marked new highs.
On a m-o-m basis, trade, exports and imports expanded by 31.3 per cent, 38.9 per cent and 21.9 per cent, respectively.
During the first four months of 2026, trade with ASEAN increased by 12.0 per cent to RM283.89 billion compared to the corresponding period in 2025. Exports to the region rose 8.6 per cent to RM162.73 billion, boosted by higher exports of E&E products, optical and scientific equipment as well as petroleum products. Imports from ASEAN expanded by 16.8 per cent to RM121.16 billion.
China – Trade Grew Double-Digit for Eight Straight Months
In April 2026, trade with China which represented 18.0 per cent of Malaysia’s total trade grew by 37.6 per cent y-o-y to RM60.67 billion. This was the eighth consecutive month of double-digit expansion, and the fastest growth recorded since May 2021. Exports climbed 39.2 per cent to RM19.96 billion on account of robust exports of E&E products and metalliferous ores and metal scrap. Imports from China rose 36.8 per cent to RM40.71 billion.
Compared to March 2026, trade, exports and imports were up by 23.7 per cent, 15.6 per cent and 28.1 per cent.
During the first four months of 2026, trade with China climbed 24.4 per cent to RM201.43 billion compared to the same period in 2025. Exports rose 18.7 per cent to RM67.56 billion owing to higher shipments of metalliferous ores and metal scrap as well as E&E products. Imports from China increased by 27.5 per cent to RM133.87 billion.
The US – Double-Digit Export Expansion for Five Consecutive Months
Trade with the US in April 2026 which took up 10.8 per cent of Malaysia’s total trade, contracted by 3.7 per cent y-o-y to RM36.30 billion. However, exports continued to register double-digit y-o-y growth of 39.0 per cent to RM26.72 billion, the fifth consecutive month of expansion. This was supported by higher exports of E&E products, palm oil and palm oil-based agriculture products as well as optical and scientific equipment. Imports from the US declined by 48.1 per cent to RM9.58 billion.
Compared to March 2026, trade and imports posted an increase of 0.2 per cent and 1.7 per cent, respectively while exports were lower by 0.4 per cent.
During the first four months of 2026, trade with the US climbed 10.1 per cent to RM137.16 billion compared to the corresponding period in 2025. Exports continued to expand with double-digit growth of 32.5 per cent to RM101.54 billion, backed by solid demand for E&E products, optical and scientific equipment as well as manufactures of metal. Imports from the US decreased by 25.7 per cent to RM35.63 billion.
Taiwan – New Record High for Exports
In April 2026, trade with Taiwan which absorbed 8.6 per cent of Malaysia’s total trade jumped by 39.6 per cent to RM29.02 billion compared to April 2025. Exports leaped by 86.0 per cent to RM13.43 billion to reach a new record high, attributed to strong exports of E&E products, optical and scientific equipment as well as machinery, equipment and parts. Imports from Taiwan grew by 15.0 per cent to RM15.59 billion.
Compared to March 2026, trade, exports and imports climbed 28.9 per cent, 33.5 per cent and 25.1 per cent, respectively.
During the first four months of 2026, trade with Taiwan increased by 29.6 per cent to RM95.27 billion compared to the same period in 2025. Exports soared by 68.9 per cent to RM41.80 billion, fuelled by higher exports of E&E products, optical and scientific equipment as well as machinery, equipment and parts. Imports from Taiwan rose 9.7 per cent to RM53.48 billion.
The EU – Exports Reached an All-Time High
In April 2026, trade with the EU which comprised 6.6 per cent of Malaysia’s total trade climbed 26.4 per cent y-o-y to RM22.36 billion. Exports surged to a new record high, rising 43.5 per cent to RM13.62 billion, aided particularly by higher exports of E&E products. Imports from the EU increased by 6.5 per cent to RM8.74 billion.
Within the EU, the top 10 markets which accounted for 92.9 per cent of Malaysia’s total exports to the region were:
- Netherlands RM4.85 billion, increased by 54.7 per cent, y-o-y;
- Germany RM2.59 billion, ↑2.5 per cent;
- Ireland RM1.06 billion, ↑1,430.7 per cent;
- Belgium RM943.2 million, ↑63.9 per cent;
- Italy RM893.9 million, ↑52.2 per cent;
- France RM720.5 million, ↑16.8 per cent;
- Czech Republic RM443.4 million, ↑86.3 per cent;
- Hungary RM390.9 million, ↑67.9 per cent;
- Poland RM379.7 million, ↑12.2 per cent; and
- Spain RM379.6 million, ↓21.3 per cent.
Exports to all EU major markets recorded expansion except Spain. Among major export markets that recorded growth were the Netherlands which expanded by RM1.72 billion and Ireland RM994.1 million, each buoyed by higher exports of E&E products. Meanwhile, exports to Germany rose RM63.0 million following robust exports of optical and scientific equipment. Exports to the Netherlands and Ireland posted new monthly record highs.
On a m-o-m basis, trade, exports and imports expanded by 20.3 per cent, 31.5 per cent and 6.2 per cent, respectively.
During the first four months of 2026, trade with the EU was higher by 16.2 per cent to RM81.94 billion compared to the same period in 2025. Exports surged by 23.9 per cent to RM48.86 billion led by higher demand for E&E products and metalliferous ores and metal scrap. Imports from the EU expanded by 6.4 per cent to RM33.08 billion.
Trade with FTA Partners
In April 2026, trade with FTA partners which constituted 68.3 per cent of Malaysia’s total trade surged by 37.5 per cent y-o-y to RM230.05 billion. Exports to FTA partners rose 35.3 per cent to RM121.04 billion while imports increased by 40.0 per cent to RM109.00 billion.
Markets that recorded export growth were Hong Kong SAR, which soared by 67.8 per cent y-o-y to RM12.29 billion and Japan, rose 6.4 per cent to RM6.54 billion, following strong exports of E&E products. Export to Australia expanded by 51.1 per cent to RM6.23 billion and exports to New Zealand surged by 120.6 per cent to RM845.3 million, aided by higher exports of petroleum products.
Meanwhile, exports to India increased by 48.4 per cent to RM6.01 billion and exports to Peru jumped 80.5 per cent to RM75.5 million, buoyed by robust shipments of machinery, equipment and parts. Exports to Turkiye expanded by 45.0 per cent to RM2.22 billion and exports to Pakistan grew by 67.5 per cent to RM419.0 million, driven by growing exports of manufactures of metal.
Additionally, exports to the ROK climbed 62.2 per cent to RM6.60 billion contributed by rising demand for liquefied natural gas (LNG), exports to the UK were up by 81.8 per cent to RM1.20 billion, due to higher shipments of palm oil-based manufactured products, exports to Canada rose 38.2 per cent to RM637.4 million underpinned by growing exports of jewellery, as well as exports to Chile grew by 84.9 per cent to RM188.3 million on higher exports of chemicals and chemical products.
On a m-o-m basis, trade, exports and imports were up by 26.7 per cent, 27.3 per cent and 25.9 per cent, respectively.
During the first four months of 2026, trade with FTA partners grew by 17.6 per cent to RM745.54 billion, exports increased by 14.2 per cent to RM390.09 billion and imports climbed 21.5 per cent to RM355.45 billion compared to the same period in 2025.
Import Performance
Total imports in April 2026 grew by 20.0 per cent y-o-y to RM153.99 billion. The three main categories of imports by end use, which accounted for 49.5 per cent of total imports were:
- Intermediate goods, valued at RM47.23 billion or 30.7 per cent of total imports, decreased by 18.8 per cent y-o-y, due to lower imports of parts and accessories of non transport capital goods;
- Capital goods, valued at RM18.67 billion or 12.1 per cent of total imports, were down by 20.7 per cent, following reduced imports of non-transport capital goods; and
- Consumption goods, valued at RM10.25 billion or 6.7 per cent of total imports, expanded by 5.6 per cent, as a result of higher imports of durables.
Compared to March 2026, imports increased by 23.9 per cent. Imports of capital and consumption goods were higher by 15.4 per cent and 14.2 per cent, respectively while imports of intermediate goods declined by 19.3 per cent.
During the period of January to April 2026, imports expanded by 11.1 per cent to RM517.40 billion compared to the same period last year. Imports of consumption goods were up by 2.9 per cent to RM39.68 billion, while intermediate goods fell 5.9 per cent to RM222.69 billion and capital goods declined by 5.5 per cent to RM66.48 billion. —MATRADE.
