Malaysia’s trade with BRICS countries rises 20pct to RM481bil in first half of 2026

Malaysia’s trade with BRICS member countries rose 20 per cent to RM481.02 billion in the first half of this year.

Deputy Foreign Minister Datuk Lukanisman Awang Sauni told the Dewan Rakyat that exports increased 17.4 per cent to RM181.4 billion, while imports grew 21.7 per cent to RM299.62 billion compared with the same period last year.

“China, Indonesia and India remain Malaysia’s largest trading partners within BRICS, accounting for about 90 per cent of total trade,” he said in reply to Datuk Seri Dr Ronald Kiandee (PN-Beluran), who asked about the objectives of Malaysia’s BRICS partner status and its benefits compared with existing bilateral cooperation.

Lukanisman said trade with BRICS countries reached RM846.5 billion last year, up 3.4 per cent from RM818.04 billion in 2024, accounting for 27.7 per cent of Malaysia’s overall trade.

He said Malaysia’s participation sought to diversify its economic partners, reduce reliance on traditional markets and strengthen developing countries’ voice in international economic and financial governance.

“Cooperation through BRICS provides significant added value and complements existing bilateral cooperation mechanisms and free trade agreements,” he said.

He said the grouping offered opportunities to expand exports to markets where Malaysia had no free trade agreements, while attracting investment and technology transfers in strategic sectors such as semiconductors, artificial intelligence and digital infrastructure.

Malaysia was also prioritising exports of electrical goods, semiconductors and palm oil, alongside cooperation in food and energy security and the expansion of services such as tourism, education, healthcare and Islamic finance.

On implications for Malaysia’s foreign policy and Asean centrality, Lukanisman said the country remained neutral and would continue addressing South China Sea issues through existing bilateral mechanisms.