Malaysia’s trade growth slowed to +3.1% year-on-year (yoy) in January 2025, primarily due to a sharp deceleration in exports, which grew by only +0.3% yoy—the lowest since September 2024.
• Electronics & Electrical (E&E) exports remained strong, growing +14.8% yoy, driven by semiconductors (+16% yoy) and automatic data processing (+78.8% yoy). However, overall manufacturing exports saw only slight growth at +0.4% yoy, as declines in LNG and crude petroleum exports offset gains.
Exports Growth Slows
• Imports also moderated, rising +6.2% yoy, reflecting continued strong domestic demand. Capital goods imports surged +41.5% yoy, indicating ongoing investment in business expansion.
• Trade outlook for 2025 remains positive, with exports and imports expected to grow +4.9% and +4.5%, respectively.
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