The nation’s trade jumped 18.2% in April from the previous year to RM261.9 billion (US$61.1 billion), the highest monthly value recorded since August 2022, according to the investment, trade and industry ministry.

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.

“Demand for manufactured goods, in particular electrical and electronic (E&E) products, increased by almost RM16 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,” he added.