Malaysia Imports Hit New Peak

Malaysia's imports rose 36.4% year-on-year to a record MYR 171.1 billion in July 2026, following a 43.9% jump in June, which had marked the fastest growth since August 2022. The latest result extended the streak of annual growth to 11 straight months, surpassing market estimates of a 32.4% rise, amid resilient domestic demand. Purchases grew for intermediate goods (40.8%), capital goods (24.0%), consumption goods (5.2%), and dual-use goods (105.9%). By sector, manufacturing imports jumped 41.5%, driven by solid gains in electronics and electrical (E&E) products (58.1%) and petroleum (51.5%). Agricultural imports rose 10.9%, led by other edible oils (104.5%). In contrast, mining imports fell 5.3%, mainly due to lower purchases of crude oil (-44.4%). Imports increased significantly from China (60.1%), South Korea (113.3%), and ASEAN countries (44.4%), but decreased from Taiwan (-5.4%). Other notable sources included Japan (12.1%), India (47.5%), the U.S. (19.6%), and the EU (23.4%). In the first seven months of 2026, total imports rose 19.8% year-on-year to MYR 994.7 billion.