Malaysia's Trade Performance April 2025
MALAYSIA'S APRIL 2025 TRADE AND EXPORTS RECORD HIGHEST MONTHLY VALUE FOR APRIL
Double-Digit Growth for Malaysia's Trade in April 2025, Registering Highest Trade Value Since August 2022
Malaysia’s trade performance sustained its positive trajectory in April 2025, marking the 16th consecutive month of year-on-year (y-o-y) growth since January 2024. Trade rose 18.2% y-o-y to RM261.94 billion, the highest monthly value ever recorded since August 2022, with both exports and imports posting strong double-digit increases for the month. Exports expanded by 16.4% to RM133.56 billion and imports were up by 20% to RM128.37 billion. Trade surplus was recorded for the 60th consecutive month since May 2020, reaching RM5.19 billion.
The growth in exports was predominantly driven by robust demand for manufactured goods, particularly electrical and electronic (E&E) products, which increased by almost RM16 billion. Another equally important sector was agriculture goods, especially palm oil and palm oil-based agriculture products which also played a significant role in supporting the overall expansion in exports.
In terms of markets, strong export growth was posted to major trading partners, namely ASEAN, China, the United States (US), the European Union (EU), and to Taiwan which reached a new record high. Overall exports to Free Trade Agreement (FTA) partners also saw a strong rebound. Among markets that recorded export increases were Mexico, India and the Republic of Korea (ROK), attributed to higher shipments of E&E products.
During the period January to April 2025, trade, exports and imports recorded the highest periodic value to date. Trade was up by 7.2% y-o-y to RM977.61 billion, exports rose 7.3% to RM511.92 billion and imports climbed 7% to RM465.69 billion. Trade surplus recorded double-digit growth of 10.4% to RM46.23 billion.
Net exports contributed to Malaysia's achievement of a 4.4% Gross Domestic Product (GDP) in the first quarter of 2025, as reported by Bank Negara Malaysia (BNM). Additionally, World Trade Organization’s (WTO) recent report also showed, Malaysia’s improvement in global trade ranking to 24th position in 2024, from the 26th place in 2023.
In recognition of how global trade challenges may hamper the pace of growth, MITI and its export promotion agency, MATRADE, are intensifying efforts to increase exports, while also diversifying Malaysia’s export destinations. In addition to maintaining strong ties with established trade partners, MATRADE is actively exploring emerging markets through strategic initiatives such as international trade fairs, export acceleration missions, business matching programmes and the MADANI Digital Trade (MDT) platform. These initiatives are aimed at empowering Malaysian exporters, particularly small and medium enterprises (SMEs) and mid-tier companies (MTCs) to boost their global competitiveness and broaden their international reach. Further information can be obtained via https://www.matrade.gov.my/en/25-malaysian-exporters/services-for exporters/111-exports-assistance
Export Performance of Major Sectors
E&E Products Drive Export Growth
In April 2025, exports of manufactured goods which comprised 86.7% of total exports rose for the seventh consecutive month, by 19% y-o-y to RM115.82 billion. The increase was contributed by strong demand for E&E products, machinery, equipment and parts as well as processed food.
Exports of agriculture goods (6.3% share) in April 2025 recorded the 13th consecutive month of expansion, rising 3.5% y-o-y to RM8.48 billion following higher exports of palm oil and palm oil-based agriculture products.
Exports of mining goods (6.1% share) in April 2025 fell 1.3% y-o-y to RM8.12 billion following reduced exports of crude petroleum due to lower export prices. Nevertheless, exports of liquefied natural gas (LNG) recorded expansion attributed to higher export volumes and prices.
Major exports in April 2025:
- E&E products, valued at RM60.23 billion and accounted for 45.1% of total exports, increased by 35.4% compared to April 2024;
- Petroleum products, RM8.5 billion, 6.4% of total exports, ↓9.3%; • Machinery, equipment and parts, RM6.5 billion, 4.9% of total exports, ↑31%;
- Palm oil and palm oil-based agriculture products, RM6.31 billion, 4.7% of total exports, ↑1.8%; and
- Chemicals and chemical products, RM5.23 billion, 3.9% of total exports, ↓11.3%.
On a month on month (m-o-m) basis, exports of agriculture goods expanded by 3.5%, meanwhile exports of manufactured and mining goods reduced by 2.9% and 7.1%, respectively.
During the first four months of 2025, exports of manufactured goods rose 9.2% to RM440.56 billion compared to the corresponding period in 2024 led by higher exports of E&E products, machinery, equipment and parts as well as palm oil-based manufactured products. Exports of agriculture goods recorded double-digit growth of 11.1% to RM34.43 billion attributed to higher exports of palm oil and palm oil-based agriculture products. However, exports of mining goods contracted by 16.8% to RM32.6 billion, due to lower exports of crude petroleum and LNG.
Trade Performance with Major Markets
In April 2025, Malaysia’s trade with major trading partners namely ASEAN, China, the US, Taiwan and the EU accounted for 71.8% share of total trade.
ASEAN – Export Expansion for Three Months in a Row
In April 2025, trade with ASEAN which contributed 25.8% to Malaysia’s total trade rebounded by 11.2% y-o-y to RM67.63 billion. Exports grew for three months consecutively, registering strong double-digit expansion of 18.3% to RM40.68 billion buoyed by higher exports of E&E products. Imports from ASEAN improved by 1.9% to RM26.94 billion.
Breakdown of exports to ASEAN countries:
- Singapore RM22.99 billion, increased by 26.1%, y-o-y;
- Thailand RM5.79 billion, ↑19.9%;
- Viet Nam RM4.56 billion, ↑9.7%;
- Indonesia RM4.24 billion, ↑17.2%;
- Philippines RM2.32 billion, ↓8.3%;
- Cambodia RM273.0 million, ↓1.3%;
- Myanmar RM252.0 million, ↓19.1%;
- Brunei RM244.1 million, ↓40.2%; and
- Lao PDR RM4.1 million, ↓19.9%.
Exports to major markets in ASEAN that recorded increases were Singapore, which grew by RM4.76 billion y-o-y, Thailand expanded by RM959.3 million and Viet Nam rose RM402.4 million, buoyed by strong exports of E&E products. Meanwhile, exports to Indonesia expanded by RM621.5 million supported by higher shipments of petroleum products. Exports to Singapore posted the highest monthly value thus far.
Compared to March 2025, trade, exports and imports climbed 5.5%, 7.7% and 2.3%, respectively.
For the period of January to April 2025, trade with ASEAN edged up by 2.9% to RM253.57 billion compared to the same period in 2024. Exports increased by 6% to RM149.83 billion bolstered by solid exports of E&E products as well as machinery, equipment and parts. Imports from ASEAN weakened by 1.4% to RM103.75 billion.
China – Exports Rebounded
Trade with China which made up 16.9% of Malaysia’s total trade in April 2025, expanded with double-digit growth of 13.9% y-o-y to RM44.17 billion. Exports to China rebounded by 2.1% to RM14.4 billion underpinned by higher exports of E&E products, optical and scientific equipment as well as machinery, equipment and parts. Imports from China were up by 20.6% to RM29.76 billion.
Compared to March 2025, trade and imports increased by 7.7% and 19.6%, respectively while exports reduced by 10.6%.
During the first four months of 2025, trade with China was up by 7.2% to RM161.98 billion compared to the same period in 2024. Exports slipped by 2.8% to RM56.98 billion on account of lower exports of LNG and manufactures of metal. Conversely, higher exports were registered for E&E products, machinery, equipment and parts as well as palm oil-based manufactured products. Imports from China expanded by 13.6% to RM105 billion.
The US – Exports Surged with Double-Digit Growth
In April 2025, trade with the US which accounted for 14.4% of Malaysia’s total trade surged by 71.9% y-o-y to RM37.69 billion. Exports soared by 45.6% to RM19.22 billion following strong exports of E&E products, processed food as well as machinery, equipment and parts. Imports from the US rebounded by 111.8% to RM18.47 billion.
On a m-o-m basis, trade and imports posted strong expansion of 21.4% and 120.1%, respectively while exports fell 15.2%.
For the period of January to April 2025, trade with the US continued to expand with double-digit growth of 40.2% to RM124.59 billion compared to the same period in 2024. Exports to the US expanded by 38.6% to RM76.64 billion, due to increased shipments of E&E products, along with, machinery, equipment and parts as well as processed food. Imports from the US increased by 42.9% to RM47.95 billion.
Taiwan – the Highest Export Value Ever
In April 2025, trade with Taiwan which represented 7.9% of Malaysia’s total trade rebounded sharply by 77.4% y-o-y to RM20.78 billion. Exports soared to a new record high, rising 44.7% to RM7.22 billion attributed to higher demand for E&E products, optical and scientific equipment as well as machinery, equipment and parts. Imports from Taiwan improved by 101.7% to RM13.56 billion.
On a m-o-m basis, trade, exports and imports recorded expansion of 15.2%, 4.1% and 22.2%, respectively.
For the period of January to April 2025, trade with Taiwan rose 36.1% to RM73.51 billion compared to the same period in 2024. Exports expanded by 27.6% to RM24.74 billion, propelled by strong exports of E&E products, optical and scientific equipment as well as machinery, equipment and parts. Imports from Taiwan climbed 41% to RM48.77 billion.
The EU – the Third Successive Month of Export Growth
In April 2025, trade with the EU which constituted 6.8% of Malaysia’s total trade edged up by 0.05% y-o-y to RM17.7 billion. Export expanded for the third consecutive month, rising 5.8% to RM9.49 billion, aided by higher demand for palm oil-based manufactured products, transport equipment as well as iron and steel products. Imports from the EU shrank 5.9% to RM8.21 billion.
Within the EU, the top 10 markets which accounted for 93.6% of Malaysia’s total exports to the region were:
- Netherlands RM3.14 billion, increased by 7.9%, y-o-y;
- Germany RM2.53 billion, ↑2.7%;
- France RM616.8 million, ↑39.8%;
- Italy RM587.2 million, ↑35.5%;
- Belgium RM575.5 million, ↓8.2%;
- Spain RM482.7 million, ↓23.9%;
- Poland RM338.3 million, ↑15.4%;
- Czech Republic RM238.0 million, ↑37.3%;
- Hungary RM232.8 million, ↓11.8%; and
- Austria RM151.4 million, ↑112.3%.
Exports to the Netherlands increased by RM230.3 million, contributed by solid exports of palm oil-based manufactured products while exports to Germany rose RM66.2 million, led by strong demand for optical and scientific equipment. Likewise, exports to France expanded by RM175.5 million driven by higher exports of transport equipment and exports to Italy grew by RM153.7 million backed by higher shipments of iron and steel products.
Compared to March 2025, imports edged up by 0.1%, while trade and exports dropped by 6.9% and 12.1%, respectively.
For the period of January to April 2025, trade with the EU edged up by 0.8% to RM70.54 billion compared to the corresponding period last year. Exports expanded by 5.1% to RM39.45 billion on robust exports of E&E products, palm oil-based manufactured products as well as transport equipment. Imports from the EU declined by 4.2% to RM31.1 billion.
Trade with FTA Partners
In April 2025, trade with FTA partners which comprised 62.7% of Malaysia’s total trade improved by 10% y-o-y to RM164.33 billion. Exports to FTA partners rebounded with double-digit growth of 12.3% y-o-y to RM88.34 billion and imports picked up by 7.5% to RM75.98 billion.
Increases in exports were recorded to Mexico, which surged by 145.5% to RM4.14 billion, India, up by 6.1% to RM4.05 billion as well as the ROK, up by 2% to RM4.07 billion, propelled by robust exports of E&E products. Exports to Mexico reached its highest values thus far.
Meanwhile, exports to Japan rose 6.8% to RM6.14 billion buoyed by robust exports of machinery, equipment and parts, exports to Australia expanded by 18.2% to RM4.12 billion on the back of higher demand for petroleum products, exports to Chile soared by 161% to RM101.8 million following higher exports of chemicals and chemical products as well as exports to Peru were up by 12.7% to RM41.8 million on higher shipments of processed food.
Compared to March 2025, trade, exports and imports climbed 2.8%, 0.1% and 6%, respectively.
Trade with FTA partners during the first four months of 2025 increased by 2.1% to RM622.19 billion compared to the corresponding period in 2024. Exports were up by 2.3% to RM336.54 billion and imports increased by 1.8% to RM285.66 billion.
Import Performance
Total imports in April 2025 increased by 20% y-o-y to RM128.37 billion. The three main categories of imports by end use, which accounted for 71.2% of total imports were:
- Intermediate goods, valued at RM58.2 billion or 45.3% of total imports, declined by 1.7%, due to lower imports of primary fuel and lubricants;
- Capital goods, valued at RM23.56 billion or 18.4% of total imports, soared by 114.1%, as a result of higher imports of non-transport capital goods; and
- Consumption goods, valued at RM9.68 billion or 7.5% of total imports, decreased by 0.7%, due to lower imports of processed food and beverages mainly for household consumption.
Compared to March 2025, imports expanded by 14.1%. Imports of capital goods were up by 80.8% while imports of intermediate and consumption goods were down by 1.3% and 0.5%, respectively.
During the period of January to April 2025, imports edged up by 7% to RM465.69 billion compared to the same period last year. Imports of intermediate goods rose 1.6% to RM236.56 billion, capital goods grew by 37.7% to RM70.34 billion and consumption goods increased by 1.7% to RM38.53 billion.
