diff --git a/packages/next-swc/crates/core/tests/fixture/optimize-barrel/wildcard/2/input.js b/packages/next-swc/crates/core/tests/fixture/optimize-barrel/wildcard/2/input.js
new file mode 100644
index 0000000000000..56b087ebec2ea
--- /dev/null
+++ b/packages/next-swc/crates/core/tests/fixture/optimize-barrel/wildcard/2/input.js
@@ -0,0 +1,5 @@
+import { d } from 'd'
+export const a = 1
+export { b } from 'b'
+export * from 'c'
+export { d as e }
diff --git a/packages/next-swc/crates/core/tests/fixture/optimize-barrel/wildcard/2/output.js b/packages/next-swc/crates/core/tests/fixture/optimize-barrel/wildcard/2/output.js
new file mode 100644
index 0000000000000..d5c8696a4bf18
--- /dev/null
+++ b/packages/next-swc/crates/core/tests/fixture/optimize-barrel/wildcard/2/output.js
@@ -0,0 +1,2 @@
+export const __next_private_export_map__ = '[["a","",""],["b","b","b"],["e","d","d"]]';
+export * from "__barrel_optimize__?names=__PLACEHOLDER__!=!c";
diff --git a/packages/next/src/build/webpack/loaders/next-barrel-loader.ts b/packages/next/src/build/webpack/loaders/next-barrel-loader.ts
index d55851d1dfb46..d6d8146daf244 100644
--- a/packages/next/src/build/webpack/loaders/next-barrel-loader.ts
+++ b/packages/next/src/build/webpack/loaders/next-barrel-loader.ts
@@ -108,7 +108,7 @@ const NextBarrelLoader = async function (
   })
 
   const matches = source.match(
-    /^([^]*)export const __next_private_export_map__ = '([^']+)'/
+    /^([^]*)export const __next_private_export_map__ = ('[^']+'|"[^"]+")/
   )
 
   if (!matches) {
@@ -125,7 +125,11 @@ const NextBarrelLoader = async function (
   // It needs to keep the prefix for comments and directives like "use client".
   const prefix = matches[1]
 
-  const exportList = JSON.parse(matches[2]) as [string, string, string][]
+  const exportList = JSON.parse(matches[2].slice(1, -1)) as [
+    string,
+    string,
+    string
+  ][]
   const exportMap = new Map<string, [string, string]>()
   for (const [name, path, orig] of exportList) {
     exportMap.set(name, [path, orig])
@@ -138,8 +142,11 @@ const NextBarrelLoader = async function (
     if (exportMap.has(name)) {
       const decl = exportMap.get(name)!
 
-      // In the wildcard case, all exports are from the file itself.
-      if (wildcard) {
+      // In the wildcard case, if the value is exported from another file, we
+      // redirect to that file (decl[0]). Otherwise, export from the current
+      // file itself (this.resourcePath).
+      if (wildcard && !decl[0]) {
+        // E.g. the file contains `export const a = 1`
         decl[0] = this.resourcePath
         decl[1] = name
       }
diff --git a/test/development/basic/barrel-optimization/app/recursive/shortcut/page.js b/test/development/basic/barrel-optimization/app/recursive/shortcut/page.js
new file mode 100644
index 0000000000000..0cd6d599a8357
--- /dev/null
+++ b/test/development/basic/barrel-optimization/app/recursive/shortcut/page.js
@@ -0,0 +1,5 @@
+import { foo } from 'my-lib'
+
+export default function Page() {
+  return <h1>{foo}</h1>
+}
diff --git a/test/development/basic/barrel-optimization/node_modules_bak/my-lib/a.js b/test/development/basic/barrel-optimization/node_modules_bak/my-lib/a.js
index 35dccc1ad442a..a1641729097bc 100644
--- a/test/development/basic/barrel-optimization/node_modules_bak/my-lib/a.js
+++ b/test/development/basic/barrel-optimization/node_modules_bak/my-lib/a.js
@@ -1 +1,2 @@
 export * from './b'
+export { foo } from './foo'
diff --git a/test/development/basic/barrel-optimization/node_modules_bak/my-lib/foo.js b/test/development/basic/barrel-optimization/node_modules_bak/my-lib/foo.js
new file mode 100644
index 0000000000000..cb356468240d5
--- /dev/null
+++ b/test/development/basic/barrel-optimization/node_modules_bak/my-lib/foo.js
@@ -0,0 +1 @@
+export const foo = 'foo'