KUALA LUMPUR: Malaysia's trade figure reached record high of RM249.89bil in March 2025 but that momentum of growth is unlikely to sustain in the coming months, says Tengku Datuk Seri Zafrul Abdul Aziz.
Thee Investment, Trade and Industry Minister said this was because many companies rushed to export before tariffs were implemented in April.
"We believe companies are exporting quickly and stocking up lots of goods required before the US tariffs came into effect.
"March is a record number but it is not sustainable going forward," he said during a press conference at Parliament on May 5.
Tengku Zafrul also said the International Monetary Fund, the World Bank and the World Trade Organisation have reduced their international economic forecast for this year.
Meanwhile, Tengku Zafrul also said the Asean Trade Ministers Meeting will take place either on May 19 or 20.
"It will be done virtually," he said.
The IMF downgraded the GDP growth forecast for Malaysia from 4.7% to 4.1%. The World Bank projects Malaysia's GDP growth to be at 3.9%.
US President Donald Trump announced on April 2 a sweeping 10% baseline duty on all countries and a steeper 24% tariff rate on Malaysian goods.
Except for China, Trump announced a 90-day pause on the implementation of retaliatory tariffs, hours after tariffs against US trading partners came into effect on April 9.
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