April 2026 Trade Performance

Resilient E&E Export Drove Trade, Exports and Imports to Historical  Highs, Recording the Fastest Year-on-Year Trade Growth in 43 Months 

                   

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% 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% 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% 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% to RM1.127 trillion compared  to the corresponding period in 2025, driven by higher exports which rose 19.0% to  RM609.31 billion and imports which expanded by 11.1% 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% y-o-y, stronger than the 4.4% 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%  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% of total  exports, surged by 40.1% 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% share) rose 25.6% y-o-y to RM10.20 billion  on robust exports of metalliferous ores and metal scrap. 

Exports of agriculture goods (4.9% share) rebounded by 5.2% 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% of total exports,  increased by 46.4% compared to April 2025;
  • Petroleum products, RM14.47 billion, 7.9% of total exports, ↑70.2%;
  • Machinery, equipment and parts, RM8.19 billion, 4.5% of total exports, ↑26.6%;
  • Manufactures of metal, RM7.28 billion, 4.0% of total exports, ↑42.7%; and
  • Optical and scientific equipment, RM7.11 billion, 3.9% of total exports, ↑40.9%. 

On a month-on-month (m-o-m) basis, exports of manufactured, mining and agriculture  goods recorded expansion of 24.0%, 16.2% and 18.0%, respectively. 

During the first four months of 2026, exports of manufactured goods surged by 21.3%  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% to RM35.84 billion due to higher shipments  of metalliferous ores and metal scrap. Exports of agriculture goods, however slipped by 5.2% 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% share of total trade.

ASEAN – Exports to All Markets Recorded Double-Digit Expansion

In April 2026, trade with ASEAN which contributed 27.0% to Malaysia’s total trade  increased by 34.3% y-o-y to RM90.83 billion. Exports posted the highest monthly value  ever recorded, with an expansion of 31.4% 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% to RM37.36 billion.

Breakdown of exports to ASEAN countries:

  • Singapore RM28.32 billion, increased by 23.2%, y-o-y;
  • Thailand RM7.58 billion, ↑30.9%; 
  • Viet Nam RM7.53 billion, ↑65.0%; 
  • Indonesia RM5.77 billion, ↑36.0%; 
  • Philippines RM3.04 billion, ↑30.7%; 
  • Cambodia RM472.7 million, ↑73.1%;  
  • Myanmar RM378.3 million, ↑50.1%; 
  • Brunei RM372.9 million, ↑52.7%; 
  • Lao PDR RM7.0 million, ↑69.7%; and 
  • Timor-Leste RM4.6 million, ↑24.7%. 

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 Viet Nam 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, Viet  Nam and Thailand marked new highs.

On a m-o-m basis, trade, exports and imports expanded by 31.3%, 38.9% and 21.9%,  respectively. 

During the first four months of 2026, trade with ASEAN increased by 12.0% to  RM283.89 billion compared to the corresponding period in 2025. Exports to the region  rose 8.6% 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% to RM121.16 billion.  

China – Trade Grew Double-Digit for Eight Straight Months

In April 2026, trade with China which represented 18.0% of Malaysia’s total trade grew  by 37.6% 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% 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% to RM40.71 billion.  

Compared to March 2026, trade, exports and imports were up by 23.7%, 15.6% and  28.1%. 

During the first four months of 2026, trade with China climbed 24.4% to RM201.43 billion  compared to the same period in 2025. Exports rose 18.7% 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% 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% of Malaysia’s total trade, contracted by 3.7% y-o-y to RM36.30 billion. However, exports continued to register  double-digit y-o-y growth of 39.0% 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% to RM9.58 billion.

Compared to March 2026, trade and imports posted an increase of 0.2% and 1.7%,  respectively while exports were lower by 0.4%. 

During the first four months of 2026, trade with the US climbed 10.1% to RM137.16  billion compared to the corresponding period in 2025. Exports continued to expand with  double-digit growth of 32.5% 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% to RM35.63 billion. 

Taiwan – New Record High for Exports

In April 2026, trade with Taiwan which absorbed 8.6% of Malaysia’s total trade jumped  by 39.6% to RM29.02 billion compared to April 2025. Exports leaped by 86.0% 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% to RM15.59 billion. 

Compared to March 2026, trade, exports and imports climbed 28.9%, 33.5% and  25.1%, respectively.  

During the first four months of 2026, trade with Taiwan increased by 29.6% to RM95.27  billion compared to the same period in 2025. Exports soared by 68.9% 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%  to RM53.48 billion. 

The EU – Exports Reached an All-Time High

In April 2026, trade with the EU which comprised 6.6% of Malaysia’s total trade climbed  26.4% y-o-y to RM22.36 billion. Exports surged to a new record high, rising 43.5% to  RM13.62 billion, aided particularly by higher exports of E&E products. Imports from the  EU increased by 6.5% to RM8.74 billion.

Within the EU, the top 10 markets which accounted for 92.9% of Malaysia’s total exports  to the region were: 

  • Netherlands RM4.85 billion, increased by 54.7%, y-o-y;
  • Germany RM2.59 billion, ↑2.5%; 
  • Ireland RM1.06 billion, ↑1,430.7%; 
  • Belgium RM943.2 million, ↑63.9%; 
  • Italy RM893.9 million, ↑52.2%; 
  • France RM720.5 million, ↑16.8%; 
  • Czech Republic RM443.4 million, ↑86.3%; 
  • Hungary RM390.9 million, ↑67.9%; 
  • Poland RM379.7 million, ↑12.2%; and 
  • Spain RM379.6 million, ↓21.3%. 

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%, 31.5% and 6.2%,  respectively. 

During the first four months of 2026, trade with the EU was higher by 16.2% to RM81.94  billion compared to the same period in 2025. Exports surged by 23.9% 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% to RM33.08 billion. 

Trade with FTA Partners

In April 2026, trade with FTA partners which constituted 68.3% of Malaysia’s total trade  surged by 37.5% y-o-y to RM230.05 billion. Exports to FTA partners rose 35.3% to  RM121.04 billion while imports increased by 40.0% to RM109.00 billion.

Markets that recorded export growth were Hong Kong SAR, which soared by 67.8% y-o-y to RM12.29 billion and Japan, rose 6.4% to RM6.54 billion, following strong  exports of E&E products. Export to Australia expanded by 51.1% to RM6.23 billion and exports to New Zealand surged by 120.6% to RM845.3 million, aided by higher exports  of petroleum products. 

Meanwhile, exports to India increased by 48.4% to RM6.01 billion and exports to Peru jumped 80.5% to RM75.5 million, buoyed by robust shipments of machinery, equipment  and parts. Exports to Turkiye expanded by 45.0% to RM2.22 billion and exports to Pakistan grew by 67.5% to RM419.0 million, driven by growing exports of manufactures  of metal. 

Additionally, exports to the ROK climbed 62.2% to RM6.60 billion contributed by rising  demand for liquefied natural gas (LNG), exports to the UK were up by 81.8% to RM1.20  billion, due to higher shipments of palm oil-based manufactured products, exports to  Canada rose 38.2% to RM637.4 million underpinned by growing exports of jewellery,  as well as exports to Chile grew by 84.9% 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%, 27.3% and 25.9%,  respectively. 

During the first four months of 2026, trade with FTA partners grew by 17.6% to  RM745.54 billion, exports increased by 14.2% to RM390.09 billion and imports climbed  21.5% to RM355.45 billion compared to the same period in 2025. 

 

Import Performance

Total imports in April 2026 grew by 20.0% y-o-y to RM153.99 billion. The three main  categories of imports by end use, which accounted for 49.5% of total imports were: 

  • Intermediate goods, valued at RM47.23 billion or 30.7% of total imports,  decreased by 18.8% 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% of total imports, were down  by 20.7%, following reduced imports of non-transport capital goods; and 
  • Consumption goods, valued at RM10.25 billion or 6.7% of total imports,  expanded by 5.6%, as a result of higher imports of durables.

Compared to March 2026, imports increased by 23.9%. Imports of capital and  consumption goods were higher by 15.4% and 14.2%, respectively while imports of  intermediate goods declined by 19.3%. 

During the period of January to April 2026, imports expanded by 11.1% to RM517.40 billion compared to the same period last year. Imports of consumption goods were up  by 2.9% to RM39.68 billion, while intermediate goods fell 5.9% to RM222.69 billion and  capital goods declined by 5.5% to RM66.48 billion.

 

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