Check: 9 September 2026
New monthly records
MATRADE reported total trade of RM364.74 billion in July 2026, up 37.3% year on year. Exports rose 38.0% to RM193.60 billion and imports increased 36.4% to RM171.14 billion. Malaysia recorded a RM22.46 billion trade surplus, extending its run of monthly surpluses since May 2020.
E&E drives the export jump
Electrical and electronic products reached RM95.65 billion, or 49.4% of total exports, up 51.0% from July 2025. MATRADE said strong semiconductor and other high-value E&E demand lifted the category to its highest monthly export value. Machinery, equipment and parts, petroleum products and optical and scientific equipment also recorded strong growth, giving the export expansion more breadth than a single product line.
Demand was broad across major markets
Exports to ASEAN, China, the United States, Taiwan and the European Union all posted double-digit growth. Exports to ASEAN reached a new high of RM56.06 billion, while exports to China and Taiwan also set monthly records. This matters because a more diversified market base can reduce reliance on a single destination, even when global trade remains exposed to tariffs, geopolitical tension and technology-cycle volatility.
Imports also matter
Imports rising 36.4% may appear negative if viewed only through the trade-balance lens, but imports can also reflect demand for machinery, components and intermediate goods used in manufacturing and export production. In a highly integrated E&E supply chain, both export and import flows often expand together.
What to watch next
The key question is whether the July surge represents a durable technology upcycle or an unusually strong month. Future releases should be read alongside semiconductor demand, factory sales, investment implementation and the trade performance of Malaysia's major partners. For now, July shows an external sector with unusually strong momentum led by high-value manufactured exports.
