KUALA LUMPUR (Dec 19): Malaysia’s trade surplus contracted sharply in November as imports grew faster than exports, according to data released by the Department of Statistics Malaysia (DOSM) on Friday.

During the month under review, the trade surplus declined by 58.8% to RM6.1 billion, compared with RM14.8 billion in the corresponding period a year ago, the DOSM said in a statement.  

Imports surged 15.8% year-on-year to RM128.9 billion, a growth rate more than double that of exports, which increased 7% to RM135 billion in November.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the rise in exports in November was supported by higher re-exports and domestic exports.  

Re-exports accounted for 22% of total exports and increased 40.3% year-on-year to RM29.8 billion, while domestic exports, which made up 78%, recorded marginal growth of 0.3% to RM105.2 billion.

In terms of products, export growth in November was led by higher shipments of electrical and electronics (E&E) products, optical and scientific equipment, metalliferous ores and metal scrap, palm oil-based manufactured products, manufactured metal products, and machinery, equipment and parts.

By destination, higher exports were mainly driven by increased shipments to Taiwan, China, Hong Kong, the European Union, Mexico, Singapore and Vietnam, the DOSM said.

Notably, Malaysia’s trade with its major trading partners, namely Asean, China, the US, the European Union and Taiwan, comprised 68.3% of total trade in November.

Total exports to the largest trading partner, China, grew by 9.3% year-on-year to RM16.55 billion in November, while imports from China also surged by 33.3% to RM34.74 billion.

Meanwhile, exports to the US declined by 0.9% year-on-year to RM20.13 billion in November, while imports from the US slipped by 6.1% to RM8.8 billion.

Sector-wise, exports of manufactured goods, which contributed 85.9% of total exports, rose 7.9% year-on-year to RM115.89 billion, boosted by E&E products, optical and scientific equipment, palm oil-based and metal products.

Exports of agricultural products contracted 6% to RM8.94 billion in November, on account of reduced exports of palm oil and palm oil-based agricultural products.

Exports of mining goods rose 9.9% to RM8.89 billion, the third straight month of expansion, attributed to strong exports of metaliferous ores and metal scrap, petroleum condensates and other petroleum oil and crude petroleum.

Mohd Uzir said the rise in imports reflected higher demand for capital and intermediate goods, with capital goods imports jumping 56.8% year-on-year to RM20.8 billion and intermediate goods imports rising 5% to RM66.4 billion. The imports of consumption goods, however, fell 1.7% to RM9.9 billion.

Compared with October 2025, exports declined 9% while imports rose marginally by 0.7%. Total trade decreased by 4.5%, and the trade surplus fell 70% respectively from October levels.

For the January-November period, Malaysia’s total trade expanded 5.8% year-on-year to RM2.8 trillion, supported by a 6.1% increase in exports and a 5.6% rise in imports. The cumulative trade surplus strengthened 10.7% to RM132.6 billion.