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: Malaysia cuts rate for first time since 2020 after 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.”
