Malaysia Trade Surplus Largest in 4 Months

Malaysia’s trade surplus surged to MYR 15 billion in July 2025, up from MYR 6.4 billion in the same month last year and above expectations of MYR 5.7 billion. It was the largest trade surplus since March, as exports grew much faster than imports. Exports unexpectedly rose by 6.8% yoy to a near three-year high of MYR 140.4 billion, reversing an upwardly revised 3.6% drop in June and beating forecasts of a 5.2% fall. The increase was driven by higher sales in the manufacturing sector (9.0%), while shipments declined in mining (-4.3%) and agriculture (-8.6%). Imports also surprised on the upside, rising by 0.6% to MYR 125.5 billion, defying expectations of a 4.3% drop. The overall gain was boosted by a sharp rise in capital goods imports (20.6%). In contrast, imports fell for consumption goods (-5.0%) and intermediate goods (-17.8%). For the 1st seven months of 2025, the country recorded a trade surplus of MYR 70.3 billion, with exports and imports rising by 4.3% and 5.1%, respectively.