Southeast Asia's third-richest country posts record $384B exports in 9 months

Malaysia's exports surged 34% year-on-year to a record RM1.57 trillion (US$384.4 billion) in the first nine months of 2026, driven by electrical and electronic shipments.

Imports rose 25.7% to RM1.34 trillion during the period, bringing total trade to RM2.91 trillion, up 30.1%, according to the Malaysia External Trade Development Corporation (MATRADE).

The country, the third-richest in Southeast Asia by nominal GDP per capita behind Singapore and Brunei, posted a trade surplus of RM232.38 billion for the nine months.

Electrical and electronic (E&E) products remained a key driver of export growth, with their export value increasing by RM253.88 billion, reflecting rising global demand linked to artificial intelligence (AI) and digital technology adoption.

Other major contributors included petroleum products, optical and scientific equipment, machinery, equipment and parts, and liquefied natural gas.

Palm oil-based downstream products, particularly oleochemicals, also maintained double-digit growth. Products involving substantial participation by Malaysian small and medium-sized enterprises (SMEs), including automotive parts, pharmaceuticals, metal furniture and aerospace products, recorded positive growth.

MATRADE Director-General Indera Abu Bakar Yusof said the results demonstrated the resilience of Malaysian exporters and SMEs amid global economic uncertainty.

Proactive efforts to help domestic businesses access emerging markets with strong growth potential had helped turn barriers and risks into practical business opportunities, he added.

Exports to non-traditional markets in Africa, Central Asia, South Asia and Latin America rose 21.5% to RM136.36 billion during the period. Among the markets recording strong growth were Namibia, up 426.1%; South Africa, 101%; Libya, 79.3%; Angola, 55.6%; and Brazil, 41%.

Free trade agreement (FTA) partners remained a major export destination, accounting for RM986.38 billion or 62.8% of Malaysia’s total exports, up 25.8%.

Exports to 21 of Malaysia’s 24 FTA partners grew, led by Mexico with a 52.1% increase, followed by Vietnam at 44.9%, the United Kingdom at 41.1% and Thailand at 32.3%.