Malaysia Exports YoY

Exports from Malaysia increased by 6.8% year-on-year to a near three-year high of MYR 140.5 billion in July 2025, defying market expectations of a 5.2% decline and rebounding from an upwardly revised 3.6% drop in the previous month. This marked the first annual growth since April, primarily driven by increased shipments to Singapore (22.2%) and the US (3.8%), which together accounted for 31.5% of Malaysia’s total exports. Other notable increases in exports were recorded to China (6.8%), the EU (5.7%), and Taiwan (46.6%). By sector, exports of manufactured goods rose by 9%, supported mainly by higher shipments of electrical and electronic products (22.5%), non-metallic mineral products (17.6%), and palm oil-based manufactured products (16.8%). However, exports fell in both the agriculture (-8.6%) and mining (-4.3%) sectors. For the first seven months of 2025, total exports increased by 4.3% to MYR 900.5 billion, compared to the same period a year earlier.

Exports from Malaysia unexpectedly shrank by 3.5% yoy to a four-month low of MYR 126.6 billion in June 2025, missing forecasts of a 5.6% increase and following an upwardly revised 1.2% drop in May. This marked the second straight month of decline and the steepest fall in exports since December 2023, driven largely by a 9.3% drop in shipments to China, Malaysia’s top trading partner. By sector, mining exports plunged 28.7%, led by steep declines in LNG (-26.5%) and crude petroleum (-42.7%). Manufacturing exports also fell 3.3%, weighed down by a 28.1% drop in petroleum products. In contrast, agricultural exports surged 17.5%, mainly due to strong demand for palm oil and related products, which jumped 24.7%. By destination, exports also declined to Singapore (-16.9%) and Japan (-1.6%), while exports to the US grew 4.7% as factories rushed to ship goods ahead of the August deadline, following tariff warnings. For H1 of 2025, total exports rose 3.8% yoy to MYR 760.2 billion.

Exports from Malaysia unexpectedly fell by 1.1% yoy to a three-month low of MYR 126.6 billion in May 2025, missing forecasts of an 8.9% rise and reversing a 16.4% surge in April. It marked the 1st drop in exports in eight months, driven by lower shipments to China—Malaysia's top trading partner—and Japan, although sales to the US increased. By sector, mining shipments plunged 23.6%, led by steep falls in LNG exports (-42.2%) and crude petroleum (-28.9%). Manufacturing sales also fell 0.3%, weighed down by a 28.9% drop in petroleum products. In contrast, agricultural exports rose 8.3%, mainly supported by palm oil and related products (8.3%). By destination, exports fell to Singapore (-18.0%), China (-4.3%), and Japan (-25.7%), while rising to the US (16.1%) as factories rushed to ship goods in April following President Trump’s announcement of a 90-day pause on plans to impose a 24% levy on Malaysia. For the January–May 2025 period, total exports grew by 5.5% yoy to MYR 638.5 billion.