FX.co ★ Malaysia Imports Hit New Peak

Malaysia’s imports surged 36.4% year-on-year to an all-time high of MYR 171.1 billion in July 2026, easing from June’s 43.9% jump, which had been the fastest pace since August 2022. This marked the 11th consecutive month of annual growth and exceeded market expectations of a 32.4% increase, underpinned by resilient domestic demand.

By end-use category, imports expanded for intermediate goods (40.8%), capital goods (24.0%), consumption goods (5.2%), and dual-use goods (105.9%).

By sector, manufacturing imports climbed 41.5%, supported by robust purchases of electrical and electronic (E&E) products (58.1%) and petroleum (51.5%). Agricultural imports increased 10.9%, driven mainly by a sharp rise in other edible oils (104.5%). In contrast, mining imports declined 5.3%, weighed down by a steep drop in crude oil purchases (-44.4%).

By trading partner, imports rose from China (60.1%), Japan (12.1%), India (47.5%), South Korea (113.3%), ASEAN countries (44.4%), the United States (19.6%), and the European Union (23.4%), but declined from Taiwan (-5.4%).

For the first seven months of 2026, total imports increased 19.8% year-on-year to MYR 994.7 billion.