diff --git a/crates/swc_ecma_minifier/src/compress/optimize/mod.rs b/crates/swc_ecma_minifier/src/compress/optimize/mod.rs
index fac088c84fb1..f9f5ce88db9a 100644
--- a/crates/swc_ecma_minifier/src/compress/optimize/mod.rs
+++ b/crates/swc_ecma_minifier/src/compress/optimize/mod.rs
@@ -318,6 +318,10 @@ impl From<&Function> for FnMetadata {
 
 impl Optimizer<'_> {
     fn may_remove_ident(&self, id: &Ident) -> bool {
+        if self.ctx.is_exported {
+            return false;
+        }
+
         if id.span.ctxt != self.marks.top_level_ctxt {
             return true;
         }
diff --git a/crates/swc_ecma_minifier/tests/fixture/pr/7856/1/input.js b/crates/swc_ecma_minifier/tests/fixture/pr/7856/1/input.js
new file mode 100644
index 000000000000..4795623c1d0d
--- /dev/null
+++ b/crates/swc_ecma_minifier/tests/fixture/pr/7856/1/input.js
@@ -0,0 +1,4 @@
+const a = () => "";
+const b = {};
+export const c = a;
+b.c = c;
diff --git a/crates/swc_ecma_minifier/tests/fixture/pr/7856/1/output.js b/crates/swc_ecma_minifier/tests/fixture/pr/7856/1/output.js
new file mode 100644
index 000000000000..569c1de79f0a
--- /dev/null
+++ b/crates/swc_ecma_minifier/tests/fixture/pr/7856/1/output.js
@@ -0,0 +1 @@
+export const c = ()=>"";
diff --git a/crates/swc_ecma_minifier/tests/fixture/pr/7856/2/input.js b/crates/swc_ecma_minifier/tests/fixture/pr/7856/2/input.js
new file mode 100644
index 000000000000..aa94f2e4fa30
--- /dev/null
+++ b/crates/swc_ecma_minifier/tests/fixture/pr/7856/2/input.js
@@ -0,0 +1,5 @@
+export const a = 4;
+export const b = 16;
+export const c = 5;
+
+export const d = () => a;
diff --git a/crates/swc_ecma_minifier/tests/fixture/pr/7856/2/output.js b/crates/swc_ecma_minifier/tests/fixture/pr/7856/2/output.js
new file mode 100644
index 000000000000..54cef1e9fdd8
--- /dev/null
+++ b/crates/swc_ecma_minifier/tests/fixture/pr/7856/2/output.js
@@ -0,0 +1,4 @@
+export const a = 4;
+export const b = 16;
+export const c = 5;
+export const d = ()=>4;