THE NATION’S INDUSTRIAL UPGRADING DRIVEN BY HIGH-VALUE IMPORTS IN NOVEMBER

KUALA LUMPUR, 22 DECEMBER 2025 (MONDAY) – Malaysia’s trade continued its upward trajectory in November 2025, recording a robust double-digit growth of 11.1% year-on-year (y-o-y) to reach RM263.83 billion. Exports rose by 7.0% to RM134.97 billion, while imports expanded by 15.8% to RM128.86 billion. This resulted in a trade surplus of RM6.12 billion, marking Malaysia’s 67th consecutive month of surplus, a testament to the nation’s enduring trade resilience over the past five years.

Trade surplus however narrowed during the month, attributed to a highly productive surge in the import of capital and intermediate goods, signaling a phase of intense industrial upgrading rather than a cooling of export momentum.

High-Value Imports Fueling Future Capacity

Imports of capital goods surged by 56.8% to RM20.81 billion, spearheaded by the Electrical and Electronic (E&E) sector. This include critical infrastructure for data centers and AI applications, such as servers, transmission machines, and high-end computing equipment. 

Simultaneously, intermediate goods rose by 5% to RM66.43 billion, driven by the demand for integrated circuits (ICs) and micro assemblies. This reflects sustained, high-intensity production activity within Malaysia’s manufacturing ecosystem, ensuring a strong pipeline for future exports.

According to the Malaysia External Trade Development Corporation (MATRADE), the current moderation in Malaysia’s trade balance is a 'positive narrowing,' as it is driven by a deliberate surge in capital investment. By importing the building blocks of AI and digital infrastructure today, we are securing Malaysia’s competitive edge as a global supply chain hub for tomorrow.

Malaysia’s trade performance in November reflects a strategic transition toward a high-technology, high-value economy. While some regional peers have faced significant external volatility and trade deficits during this period, Malaysia has maintained a solid surplus for over five years.

Additionally, the strategic acquisition of aircraft and heavy machinery like bridge cranes underscores continued long-term investment in Malaysia’s aerospace and logistic capabilities.

Year-to-Date Excellence

For the period of January to November 2025, Malaysia achieved its highest-ever cumulative values for trade, exports, and imports. Total trade rose 5.8% to RM2.775 trillion, while the trade surplus expanded by 10.7% to RM132.56 billion. This record-breaking performance reinforces Malaysia’s position as a resilient and diversified trading nation, well-equipped to navigate the evolving global economic landscape.