20.02.202604:00:00UTC+00Malaysia’s Import Growth Cools Sharply to 5.3% YoY in January 2026

Malaysia’s import growth slowed significantly at the start of 2026, with January imports rising 5.3% year-over-year, down from a robust 12.0% increase recorded in December 2025. The latest figures, updated on 20 February 2026, highlight a marked moderation in external demand or domestic spending on foreign goods compared with the end of last year.

Both the current and previous readings are based on year-over-year comparisons, measuring January 2026 imports against January a year earlier, and December 2025 imports against the same month of the prior year. The steep deceleration in the growth rate suggests that the strong momentum seen at the close of 2025 has eased, potentially signaling a shift in trade dynamics or a normalization after earlier strength in import activity.

Investors and policymakers will be watching subsequent monthly data closely to determine whether January’s softer import growth reflects a temporary adjustment or the beginning of a more sustained cooling in Malaysia’s external sector.