Malaysia’s trade performance kicked off 2026 with a new record as total trade, exports, imports and trade surplus for January recorded the highest levels ever recorded for the month in the 36 years since 1990.
Total trade increased 12.6 percent to RM272.37 billion. This momentum was driven by export growth for the seventh consecutive month, jumping 19.6 percent to RM146.87 billion. Imports, on the other hand, grew moderately by 5.3 percent to RM125.50 billion.
The trade surplus remained strong for the 69th consecutive month since May 2020, totaling RM21.37 billion, up 483.9 percent compared to January last year.
From a destination perspective, Malaysia recorded double-digit growth across almost all major markets except ASEAN. Exports to ASEAN, the United States (US), China, the European Union (EU) and Taiwan collectively accounted for 68.2 per cent of the country's total exports.
Exports to the US rose 33.9 per cent to RM23.1 billion, recording the highest value ever recorded for January. Exports to China rose 16.1 per cent to RM15.47 billion, while Taiwan surged 79.4 per cent to RM9.93 billion, also a monthly high in history.
Exports to ASEAN, meanwhile, grew 7.1 per cent to RM39.42 billion, supported by increased shipments to the seven member countries and the strengthening of regional supply chains.
In terms of composition, electrical and electronic (E&E) products remained the mainstay with a 48 per cent share of total exports.
E&E exports surged 39.5 per cent to RM70.53 billion, in line with increasing global demand for semiconductors driven by advances in artificial intelligence (AI) and the technology upgrade cycle.
Other products contributing to the growth include optical and scientific equipment which increased by 36.2 per cent, processed food up 16.5 per cent, transport equipment up 13.8 per cent and machinery, equipment and spare parts up 13 per cent.
The encouraging export performance early this year reflects the resilience and competitiveness of Malaysian exporters globally.
The surge in E&E, particularly in the semiconductor segment including electronic integrated circuits (ICs), has positioned Malaysia strategically to capitalise on the projected 26.3 per cent growth in the global semiconductor market this year.
High-growth and high-value sectors such as optical and scientific equipment, aerospace and food products also showed strong momentum, in line with the aspirations of the New Industrial Master Plan 2030 (NIMP 2030) and the 13th Malaysia Plan (13MP) which emphasise high value-added activities, innovation and strengthening domestic and global supply chains.
Trade with Free Trade Agreement (FTA) partners also recorded positive momentum as exports increased by 14.5 percent to RM95.22 billion, contributing 64.8 percent to the country's total exports.
This growth was driven by strategic markets including Mexico which jumped 122.1 percent to RM3.03 billion, followed by Hong Kong which increased 58 percent, India 35.7 percent, United Kingdom 35.3 percent, Republic of Korea 27.6 percent and New Zealand 2.6 percent.
E&E products dominated 42.9 percent of exports to FTA markets in January 2026, thus strengthening Malaysia's role in the global technology supply chain and supporting a sustainable trade outlook throughout the year.
