Overview

Starting the year, Malaysia’s external trade performance remained sturdy in January 2026 as total merchandise trade expanding by double-digit growth of 12.6 per cent or RM30.4 billion to RM272.4 billion, compared to the same month a year earlier.

Exports rose by 19.6 per cent or RM24.1 billion to RM146.9 billion, while imports expanded by 5.3 per cent or RM6.3 billion to RM125.5 billion, year-on-year (y-o-y). Consequently, the trade balance valued at RM21.4 billion registered a surplus, widening by RM17.7 billion compared to January 2025. 

On a month-on-month (m-o-m) comparison showed exports, imports, total trade and trade balance declined by 3.9 per cent, 4.0 per cent, 3.9 per cent and 3.2 per cent, respectively, compared to December 2025. 

Performance of Exports

Exports continued to strengthen with a double-digit increase of 19.6 per cent or RM24.1 billion to reach RM146.9 billion, y-o-y. 

The encouraging export growth was in line with increases in both re-exports and domestic exports. Re-exports valued at RM38.3 billion and accounting for 26.1 per cent of total exports, surged by 51.5 per cent or RM13.0 billion. Domestic exports also expanded by a double-digit 11.3 per cent or RM11.0 billion to RM108.6 billion, contributing 73.9 per cent to total exports. 

Meanwhile, on a m-o-m comparison, exports declined by 3.9 per cent or RM5.9 billion. However, based on m-o-m seasonally adjusted terms analysis, exports increased by 8.4 per cent to RM155.3 billion.

Performance of Imports

Malaysia’s imports continued to record growth, rising by 5.3 per cent or RM6.3 billion in January 2026. This increase brought total imports to RM125.5 billion compared with the value recorded in the same month of the previous year. On a m-o-m comparison showed imports declined by 4.0 per cent or RM5.2 billion.

Based on seasonally adjusted m-o-m analysis, imports contracted by 2.7 per cent to RM125.7 billion.

On a y-o-y basis, imports by End Use registered contractions in capital goods and intermediate goods. Imports of capital goods fell by 20.7 per cent (-RM4.1 billion), while intermediate goods declined by 5.1 per cent (-RM3.1 billion). In contrast, consumption goods strengthened by 16.7 per cent or RM1.7 billion. 

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Baharudin Mohamad
Public Relation Officer
Email: baharudin[at]dosm.gov.my
Phone: 03 8090 4681

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