Malaysia’s export prices continued to strengthen in June 2026, although export volumes declined from the previous month, while imports rebounded sharply amid stronger demand for fuel, machinery and manufactured goods, according to the Department of Statistics Malaysia (DOSM).
The latest External Trade Indices showed that the export unit value index increased 0.3% month-on-month, while the export volume index fell 3.5%.
Higher palm oil prices lift export value
DOSM said the increase in export prices was mainly driven by higher prices for animal and vegetable oils and fats, which rose 2.6%, alongside increases in miscellaneous manufactured articles (1.1%) and manufactured goods (0.7%).
However, export volumes weakened during the month, reflecting lower shipments across several key sectors.
The largest declines were recorded in miscellaneous manufactured articles (-6.5%), chemicals (-5.6%), and machinery and transport equipment (-5.6%).
After seasonal adjustment, the export volume index fell 3.0%, easing from 213.2 points in May to 206.8 points in June.
Despite the monthly moderation, exports remained significantly stronger than a year earlier.
On an annual basis, the export unit value index increased 7.6%, while the export volume index surged 35.2%, indicating continued strength in Malaysia’s external trade.
Imports rebound
On the import side, the import unit value index declined 1.3% from the previous month, mainly due to lower prices for mineral fuels (-7.0%), animal and vegetable oils and fats (-1.0%), and chemicals (-0.2%).
Despite lower import prices, import volumes recorded a sharp rebound.
The import volume index climbed 14.7% month-on-month, driven primarily by higher imports of mineral fuels (35.0%), machinery and transport equipment (14.7%), and manufactured goods (10.5%).
After seasonal adjustment, the import volume index increased 14.1%, rising from 175.1 points in May to 199.7 points in June.
Compared with June 2025, both import prices and volumes remained significantly higher, with the import unit value index rising 5.2% and the import volume index increasing 36.8%.
Terms of trade improve
Malaysia’s terms of trade, which measure the ratio of export prices to import prices, improved 1.6% month-on-month to 124.3 points in June.
The improvement was supported by stronger prices for mineral fuels (7.8%), animal and vegetable oils and fats (3.6%), and miscellaneous manufactured articles (1.1%).
On a year-on-year basis, Malaysia’s terms of trade also strengthened, increasing 2.2% from 121.5 points in June 2025 to 124.3 points in June 2026.
The latest data suggests Malaysia’s external trade remained resilient, with stronger export prices and improving terms of trade helping offset softer monthly export volumes, while robust import demand points to continued domestic industrial and economic activity.
