Exports from Malaysia unexpectedly declined by 1.1% yoy to a four-month low of MYR 126.6 billion in May 2025, missing forecasts of an 8.9% increase and sharply reversing a 16.4% surge in the previous month. It marked the first decline in exports in eight months, as factories had rushed to ship goods in April following President Donald Trump’s announcement of a 90-day pause on plans to impose a 24% levy on Malaysia.
By sector, mining shipments plunged 23.6%, driven by steep drops in liquefied natural gas (LNG) exports (-42.2%) and crude petroleum (-28.9%). Manufacturing sales also fell 0.3%, weighed down by petroleum products (-28.9%). In contrast, agricultural exports grew 8.3%, mainly supported by palm oil and related products (8.3%). By destination, exports declined to Singapore (-18.0%), China (-4.3%), Japan (-25.7%), and Indonesia (-5.9%), while rising to the United States (16.1%). For the first five months of 2025, total exports rose 5.5% year-on-year to MYR 638.5 billion.
