Malaysia Trade Surplus Widens as Exports Surge in January

KUALA LUMPUR, Feb 23 — Malaysia’s trade performance began 2026 strongly, with total trade expanding +12.6% year-on-year to RM272.37 billion, according to Public Investment Bank. Export growth accelerated by +19.6% YoY, driven by sustained demand for electrical and electronics (E&E) amid the ongoing semiconductor upcycle. Imports rose +5.3% YoY, while the trade surplus widened to RM21.37 billion, marking the 69th consecutive month of surplus.

Trade Surplus Widens

Looking ahead, analysts expect momentum to moderate due to a softer global backdrop and complex policy environment. While semiconductors remain a cushion for exports, global trade is sensitive to US tariff developments. The medical devices segment, which began contributing in late 2024, is expected to provide stable revenue and partly offset semiconductor volatility.

Public Investment Bank noted Malaysia’s digitalisation drive and major rail projects are creating strong opportunities for TECHSTORE, supported by its RM106.6 million order book and RM1.9 billion tender pipeline.

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Source: Public Investment Bank