Malaysia’s September trade surplus rose 64.9% from a year earlier as electronics led export growth, the Department of Statistics Malaysia said, ahead of a November central bank interest rate decision.
The surplus reached RM33.7 billion. Exports totaled RM215.1 billion, up 54.5% from September 2025, while imports climbed 52.7% to RM181.4 billion. It was Malaysia’s 77th consecutive monthly trade surplus, the department said.
Electrical and electronic products accounted for RM110.229 billion, or 51.2%, of exports. Shipments in that category rose 69.2% from a year earlier and contributed more than any other category to export growth.
The trade figures followed an advance estimate showing that Malaysia’s economy grew 5.3% from a year earlier in the third quarter. Growth over the first three quarters was 5.5%, according to the department. The government projects growth of 4.8% to 5.3% for all of 2026.
Consumer prices rose 1.8% from a year earlier in September, easing from a 1.9% annual increase in August. The department’s inflation release also said electricity bill protection for eligible domestic users was expanded from 600 to 800 kilowatt-hours a month for September through December.
Bank Negara Malaysia held its policy rate at 2.75% on Sept. 3. FXStreet reported that Commerzbank analysts Charlie Lay and Dr. Henry Hao expect the rate to remain there at the Nov. 5 meeting. They see a possible increase to 3.00% in early 2027 if growth remains resilient and inflation pressures build.
Lay and Hao also described the U.S. dollar as having traded between RM4.00 and RM4.10 since July, according to the FXStreet excerpt. Bank Negara Malaysia’s reference rate was RM4.0824 per U.S. dollar on Oct. 20, compared with RM4.0812 on Oct. 19.
The central bank has said it will assess risks to growth and inflation. Its next rate decision is scheduled for Nov. 5, followed by the department’s fuller third-quarter gross domestic product release on Nov. 18.
