KUALA LUMPUR, July 21 (Xinhua) -- Malaysia's export growth outlook for 2026 has been upgraded by several research houses, driven by stronger-than-expected trade performance, continued momentum in the electrical and electronics (E&E) sector and an ongoing artificial intelligence (AI)-led technology upcycle.
RHB Investment Bank raised its 2026 export growth forecast to 21.7 percent from 15.3 percent, following Malaysia's exports expanding 27.5 percent year-on-year in the first half of 2026, supported by robust E&E shipments.
The research house said the external trade outlook would continue to be shaped by developments in U.S. tariff policies, the sustainability of the AI investment cycle and geopolitical conditions, which could influence global demand and trade flows.
"Nevertheless, Malaysia remains well-positioned to navigate these external challenges, supported by its diversified economic structure, deep integration into regional and global supply chains, and ongoing efforts to diversify export markets and expand its product offerings," it added.
Maybank Investment Bank also raised Malaysia's full-year export growth forecast to 27.5 percent from 18.5 percent, citing stronger-than-expected performance in the first half of the year.
"Malaysia continues to benefit from the ongoing AI-driven technology upcycle alongside firmer commodity prices despite lingering uncertainties surrounding U.S. trade policy and heightened geopolitical tensions," said the research house.
Meanwhile, BIMB Securities maintained an optimistic view, citing upside risks to its export growth forecast of 15.8 percent.
The research house expects some moderation in the second half as front-loading effects ease, but said export prospects remain supported by sustained AI-driven semiconductor demand, the U.S. tariff exemption for semiconductors, and stronger energy exports, particularly liquefied natural gas and crude petroleum. ■
