KUALA LUMPUR: Malaysia’s trade performance reached a historic milestone in the first quarter of 2026 (Q1 26), setting record highs for total trade, exports and imports, with strong momentum sustained through March.
The Investment, Trade and Industry Ministry (MITI) said Malaysia’s trade in Q1 grew by 10.4 per cent to RM789.85 billion compared with the same period in 2025.
Exports climbed 12.7 per cent to RM426.53 billion, the second-highest quarterly level on record, while imports rose 7.7 per cent to RM363.31 billion.
This resulted in a trade surplus of RM63.22 billion.
“Notably, these were the highest ever Q1 values for trade, exports and imports,” the ministry said in a statement.
Miti said export growth in the quarter was mainly supported by higher demand for manufactured products, especially electrical and electronic (E&E) goods as well as optical and scientific equipment.
It added that mining products, particularly metalliferous ores and metal scrap, also contributed to the increase.
“E&E products continued to anchor overall export growth, with exports increasing by more than RM40 billion, underpinned by sustained global demand and ongoing technological adoption across key markets.
“These products each attained their highest quarterly export values to date,” it said.
For the month of March, Miti said trade sustained its upward trajectory, expanding by 9.3 per cent year-on-year to RM272.95 billion, supported by growth in exports and imports.
Exports rose 8.3 per cent to RM148.75 billion, marking the second-highest monthly value ever recorded, while imports increased by 10.4 per cent to RM124.20 billion.
“This resulted in a trade surplus of RM24.55 billion, sustaining Malaysia’s streak of 71 consecutive months of surplus since May 2020.
“Trade, exports and imports reached their highest monthly levels on record for the month of March,” it said.
The ministry said exports to major trading partners, including China, the US and Taiwan, recorded strong double-digit growth, while shipments to Asean countries saw a more moderate increase.
It added that exports to free trade agreement partners also rose, with higher shipments to Hong Kong, Mexico, South Korea, India and the UK.
“Notably, exports to the US, Taiwan, Hong Kong and Korea reached their highest quarterly values to date,” it said.
Miti said escalating geopolitical tensions in the Middle East have increased volatility in global trade, pushing up logistics costs and affecting supply chain efficiency.
“Amid these developments, the external outlook remains mixed, with the World Trade Organization projecting global merchandise trade volume to grow by a modest 1.9 per cent in 2026.
“In parallel, Bank Negara Malaysia projected Malaysia’s exports to grow by 8.6 per cent in 2026, while imports are expected to increase by 9 per cent, reflecting comparatively more robust domestic and external demand dynamics,” it added.