FX.co ★ Malaysia Imports Rise Less than Expected

Malaysia's imports increased by 14.1% year-on-year to MYR 143.62 billion in May 2026, easing from the 20.0% surge seen in April, which had been the strongest growth since August 2024. The latest figure also came in below market expectations of 15.5%, suggesting softer domestic demand amid a weaker ringgit that raised the cost of imported goods.

By end-use category, imports of intermediate goods rose 14.4%, while those of capital goods (-18.3%), consumption goods (-2.7%), and dual-use goods (-134.9%) all declined.

From a sectoral perspective, manufacturing imports expanded 18.7%, driven mainly by electrical and electronic (E&E) products (23.0%) and petroleum products (41.7%). In contrast, mining imports fell 8.7%, weighed down by lower purchases of crude oil (-4.1%) and metalliferous ores and metal scrap (-9.4%). Agricultural imports also contracted, declining 6.0% amid a sharp drop in palm oil product imports (-33.6%).

By trading partner, imports rose from China (38.7%), Japan (18.5%), India (31.7%), the European Union (16.8%), and ASEAN countries (28.5%), but fell from the United States (-32.0%). Over the period from January to May, total imports increased 11.8% year-on-year to MYR 661.07 billion.