Malaysia’s trade surplus narrowed slightly to MYR 24.6 billion in March 2026, from MYR 24.8 billion in the same month last year. Imports rose 10.4% year-on-year to MYR 124.2 billion, driven by higher purchases of capital goods (24.7%), while imports of consumption goods (-7.8%) and intermediate goods (-1.1%) declined. Import growth was strongest from China (27.8%) and Singapore (28.8%), while imports from both Taiwan and the U.S. grew 12.3% each. Meanwhile, exports increased 8.3% year-on-year to a three-month high of MYR 148.8 billion, driven by manufacturing, which expanded 9.6%, particularly in electrical and electronic products (15.0%) and petroleum products (23.7%). By destination, exports increased sharply to the U.S. (18.3%), while shipments to China rose 7.0%, Hong Kong increased 19.2%, and Taiwan surged 45.0%. For the first quarter of the year, the country’s trade surplus reached MYR 63.2 billion, with exports and imports rising 12.7% and 7.7%, respectively.