Malaysia’s imports rose 5.3% yoy to MYR 125.50 billion in January 2026, slowing from a downwardly revised 9.5% growth in the prior month and missing market forecasts of 9.9%. It was the mildest gain since a drop last August, due to more subdued domestic demand at the start of the year. Purchases grew for consumption goods (16.7%) but fell for capital goods (-20.7%), intermediate goods (-5.1%), and dual-use goods (-49.4%). By sector, manufacturing imports increased 5.4%, led by E&E products (6.9%) and machinery, equipment (15.2%). Mining imports expanded 11.4%, boosted by metalliferous ores and metal scrap (94.1%). In contrast, agricultural imports slipped 12.8%, weighed by palm oil (-31.1%) and natural rubber (-19.0%). By destination, imports gained from China (17.6%), Japan (6.3%), the EU (11.9%), ASEAN (12.0%), Vietnam (24.1%), and India (10.4%), but shrank from Taiwan (-13.6%) and the U.S. (-24.0%). In 2025, total imports declined 3.6% from a year earlier to MYR 1.45 trillion.