Exports rose 16.4% and imports were up by 20%, exceeding analysts’ median estimates for gains of 7.5% and 2.5%, respectively.
Exporters have hastened shipments to preempt US tariffs.
President Donald Trump in April announced a 90-day-pause on plans to impose a 24% levy on Malaysia, while imposing a 10% tariff on most countries in the meantime.
Malaysian officials are negotiating to bring the levies down to zero.
See also: US clouds Malaysia rate path with surprise 25% tariff threat
Demand for manufactured goods, in particular electrical and electronic products, increased by almost MYR16 billion, boosting last month’s exports, the ministry said in a statement. Agriculture goods, especially palm oil and palm-oil based products, also contributed to higher shipments, it said.
“We have already observed some signs of front-loading in E&E exports as firms try to soften the impact of tariffs,” Bank Negara Malaysia governor Abdul Rasheed Ghaffour said at a briefing on May 16.
“This underscores the strong underlying demand for E&E products. We expect demand for E&E to continue, supported by Malaysia’s entrenched position in the global value chain and AI-related demand.”
