"Economics" Malaysia's March trade surplus reaches 24.55 billion ringgit, first quarter surplus hits record high

The Malaysia External Trade Development Corporation (MATRADE) announced that Malaysia's exports in the first quarter increased by 12.7% year-on-year to MYR 426.53 billion, while imports rose by 7.7% to MYR 363.31 billion, resulting in a trade surplus of MYR 63.22 billion. Total trade increased by 10.4% year-on-year to MYR 789.85 billion. In the first quarter, the country's total trade, exports, and imports all reached historical highs.

The expansion in exports during the period was mainly driven by manufacturing products, particularly electrical and electronics (E&E) products, as well as optical and scientific instruments. Mining products (metal ores and scrap metals) also supported growth. Major export markets such as Mainland China, Taiwan, and the United States recorded double-digit growth, while exports to ASEAN saw moderate expansion.

In March alone, Malaysia's total trade increased by 9.3% year-on-year to MYR 272.95 billion, with exports rising by 8.3% to MYR 148.75 billion and imports increasing by 10.4% to MYR 124.2 billion. The trade surplus for March was MYR 24.55 billion, marking 71 consecutive months of trade surplus since May 2020. Malaysia's total trade, exports, and imports in March all reached the highest levels for any March on record.

MATRADE warned that geopolitical tensions in West Asia (Iran) are increasing global trade uncertainties, raising logistics costs and affecting supply chain efficiency