Overview

Malaysia's Terms of Trade in January 2026 increased by 0.8 per cent to 124.5 points compared to the previous month.

Exports

The export unit value index declined by 0.2 per cent in January 2026, contributed by a decreased in the index of animals & vegetable oils & fats (-2.8%), machinery & transport equipment (-0.2%) and mineral fuels (-0.2%).  The export volume index also decreased by 3.7 per cent in line with the declined in the indices of manufactured goods (-14.0%), chemicals (-7.5%) and machinery & transport equipment (-4.0%). Meanwhile seasonally adjusted export volume index increased by 1.0 per cent from 177.2 points to 179.0 points.

Referring to the annual comparison, both the exports unit value index and the volume index expanded by 1.3 per cent and 18.1 per cent respectively.

Imports

The import unit value index also declined by 1.0 per cent in January 2026, due to the decreases in the indices of animal & vegetable oils & fats (-5.7%), mineral fuels (-5.3%) and machinery & transport equipment (-0.4%). The import volume index also decreased by 3.1 per cent in January 2026 as compared to the previous month, contributed by the decreased in the index of miscellaneous manufactured articles (-17.3%), machinery & transport equipment (-6.0%) and chemicals (-3.6%). The seasonally adjusted import volume index decreased by 28.7 per cent from 236.9 point to 168.8 points. 

A year-on-year comparison showed that the import unit value index declined by 3.7 per cent, while volume index edged up by 9.4 per cent.

Terms of trade

Malaysia's terms of trade increased 0.8 per cent month-on-month to 124.5 points in January 2026, driven by the increase in the index of mineral fuels (+5.4%), animal & vegetable oils & fats (+3.0%) and food (+1.6%).  Meanwhile, Malaysia terms of trade increased 5.1 per cent year-on-year from 118.4 points in January previous year.

*Notes:

The January 2026 data is provisional and subject to revision in later issues.

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