KUALA LUMPUR: A jump in the exports of electrical and electronic (E&E) products drove a rebound in Malaysia's exports and a return to positive trade growth in July, the latest trade statistics by the Ministry of Investment, Trade and Industry (Miti) showed.
Improved trade with major trading partners in Asean and China were the main drivers behind the increase in overall trade, due mainly to the increased export demand of E&E products.
However, Malaysia's trade with the US declined 7.6% year-on-year (y-o-y) due to a 22.2% slump in imports from the country to RM10.88bil.
According to Miti's report, Malaysia's overall trade in July rebounded 3.8% y-o-y to RM265.92mil, representing its highest-ever monthly trade value.
Exports during the month rose 6.8% to RM140.45bil while imports grew a marginal 0.6% to RM125.47bil.
The trade surplus in July continued for a 63rd straight month to RM14.98bil.
Underpinning the export growth were the outbound shipments of manufactured products, which rebounded 9% y-o-y to RM122.14bil. E&E products showed the largest increase, expanding 22.5% y-o-y to RM63.31bil.
Alongside optical and scientific equipment and processed foods, E&E products remained the key driver of the country's export growth.
Exports of agriculture goods, however, decreased 8.6% y-o-y to RM9.19bil due to the lower shipment volumes of palm oil and palm oil-based agriculture products.
The exports of mining goods declined 4.3% to RM8.06bil due to ower export prices of liquefied natural gas (LNG).
On the import side, the data showed the marginal increase in import value in July was owing to a 20.6% jump in capital goods shipments, valued at RM18.19bil.
Miti said the imports of intermediate goods declined 17.8% due to the lower imports of parts and accessories of non-transport capital goods, while inbound consumption goods contracted 5% due to lower imports of non-durables.
According to Miti, Malaysia’s encouraging trade performance in the first seven months of 2025 comes amid a cautiously improving global trade outlook.
Over the January to July period, Malaysia, trade, export and import values arrived at their highest historical values.
Cumulatively, Malaysia's trade rose 4.7% to RM1.731 trillion y-o-y. Exports grew 4.3% to RM900.47bil and imports rose 5.1% to RM830.15bil for a trade surplus of RM70.32bil.
