Malaysia's Current Account Surplus Seen Holding Firm at 2.1% of GDP

Kenanga Investment Bank Bhd (Kenanga IB) has forecasted Malaysia's current account surplus to remain firm at 2.1% of GDP in 2026, unchanged from last year.

The investment bank attributes this resilience to several factors, including the upcycle in electrical and electronics (E&E), artificial intelligence (AI), semiconductors, servers, and data-centre infrastructure.

Kenanga IB also notes that Malaysia's external position is cushioned by hyperscaler capital expenditure and inventory normalisation across advanced economies.

The bank points out that a rebound in liquefied natural gas (LNG) and non-E&E shipments has added breadth to Malaysia's export growth, which stepped up to 6.0% in Q2 2026 from 5.4% in the previous quarter.