Malaysia’s trade continued its upward trajectory in the first quarter of 2026, reaching a record RM789.85 billion, driven by strong export performance amid ongoing global uncertainties.
In a report released by Malaysia External Trade Development Corporation, total trade expanded 10.4% year-on-year, with exports rising 12.7% to RM426.53 billion, while imports grew 7.7% to RM363.31 billion.
The robust export growth resulted in a trade surplus of RM63.22 billion, with all three components — trade, exports and imports — recording their highest-ever values for a first quarter.
The expansion was largely supported by stronger demand for manufactured goods, particularly electrical and electronic (E&E) products, alongside optical and scientific equipment. Mining products, especially metalliferous ores and metal scrap, also contributed to growth.
E&E exports remained the key driver, increasing by more than RM40 billion during the quarter on the back of sustained global demand and continued technological adoption.
By destination, exports to major markets such as China, the United States and Taiwan posted strong double-digit growth, while shipments to ASEAN markets recorded moderate expansion. Exports to free trade agreement partners including Hong Kong, Mexico, South Korea, India and the United Kingdom also increased, with several markets reaching record quarterly levels.
For March alone, Malaysia’s trade rose 9.3% year-on-year to RM272.95 billion, with exports climbing 8.3% to RM148.75 billion and imports increasing 10.4% to RM124.20 billion. The country recorded a trade surplus of RM24.55 billion, marking its 71st consecutive month of surplus since May 2020.
Despite the strong performance, MATRADE noted that heightened geopolitical tensions in West Asia have added volatility to global trade, raising logistics costs and affecting supply chain efficiency.
Global trade growth is expected to remain modest, with the World Trade Organization projecting merchandise trade volume to expand by 1.9% in 2026.
Meanwhile, Bank Negara Malaysia forecasts Malaysia’s exports to grow by 8.6% this year, with imports projected to increase by 9%, reflecting continued resilience in both external and domestic demand.
Malaysia’s position in global trade rankings also improved, with the country moving up to 23rd place for both exports and total trade, highlighting its strong integration into global supply chains.
