Overview

Malaysia’s trade recorded highest value in 2025, with total trade exceeded RM3 trillion for the first time. Total trade, exports and imports all reached high values, reflecting the nation’s resilience and competitiveness amid an increasingly uncertain global trading landscape.

Total trade amounted to RM3.1 trillion, an increase of 6.3 per cent as compared to the previous year, while exports exceeded imports, resulting in a trade surplus of RM156.8 billion. Malaysia also extended its trade surplus streak to 28 consecutive years since 1998.

Trade with the three largest trading partners accounted for 42.8 per cent of total trade, with China remaining Malaysia’s largest trading partner for the 17th consecutive year. Trade with China, valued at RM542.2 billion, recorded double-digit growth of 12.0 per cent, followed by Singapore, which increased by 1.6 per cent to RM402.8 billion. The United States ranked third, with trade valued at RM365.8 billion and growth of 12.5 per cent.

Malaysia’s trade performance in 2025 also surpassed the World Trade Organization’s (WTO) global merchandise trade growth forecast of 2.4 per cent, as outlined in its Global Trade Outlook and Statistics report. The Malaysia’s trade performance also exceeded the Ministry of Finance’s (MOF) 2025 Economic Outlook projection which had forecast trade growth of 4.0 per cent. Despite tariffs and trade disruptions, Malaysia’s trade sector continued to expand steadily in 2025. This growth was supported by resilient domestic demand and sustained export performance.

PERFORMANCE OF EXPORTS

Malaysia’s exports reached a new record high of RM1.6 trillion in 2025, increasing by 6.6 per cent from RM1.5 trillion in 2024. This marked the fifth consecutive year that exports exceeded RM1 trillion. This strong export performance was driven by the growth of re-exports, which accounted for 22.8 per cent of total exports and increased by 25.1 per cent to RM366.8 billion compared with the previous year.

At the same time, domestic exports constituted 77.2 per cent of total exports, valued at RM1.2 trillion, recording an increase of 2.2 per cent or RM26.5 billion. Malaysia’s export performance was not solely dependent on cost factors and exchange rate movements. Instead, it was underpinned by strong production capabilities and a high level of integration within global supply chains.

Chart 1: Performance of Domestic Exports and Re-Exports, 1990 - 2025

PERFORMANCE OF IMPORTS

In 2025, Malaysia’s import moderated to 6.0 per cent from 13.1 per cent in the preceeding year. This performance enabled import values to remain above the RM1 trillion mark for the fourth consecutive year. The growth was supported by higher imports of capital goods and consumption goods, reflecting strong demand from the manufacturing sector and domestic investment activities.

Chart 2: Intermediate Goods, Capital Goods and Consumption Goods, 2011 - 2025

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