Selangor Journal
A container is seen near Northport in Klang, on June 6, 2014. — Picture by REUTERS

Malaysia’s export prices decline 0.5 pct in April 2023

KUALA LUMPUR, May 26 — Malaysia’s export prices recorded a decline of 0.5 per cent to 141.9 points in April 2023 from 142.6 points in the preceding month, according to the Department of Statistics Malaysia (DOSM).

In its External Trade Indices (2010=100) April 2023 report released today, the department said the import unit value index shrank 0.8 per cent to 128.2 points from 129.2 points.

Accordingly, Malaysia’s terms of trade showed an increase of 0.3 per cent month-on-month (m-o-m) to 110.7 points in April 2023.

“The export unit value index decreased by 0.5 per cent in April 2023 as compared to the previous month, attributed to the fall in the index of mineral fuels (4.3 per cent), manufactured goods (0.3 per cent), as well as animal, vegetable oils and fats (0.3 per cent),” DOSM said.

Besides that, the export volume index declined by 18.3 per cent in the same month, in line with the decrease in the index of miscellaneous manufactured articles (29.3 per cent), mineral fuels (16.6 per cent) as well as machinery and transport equipment (16.2 per cent).

“The seasonally adjusted export volume index plummeted by 17.2 per cent to 136.6 points from 165.1 points. On an annual comparison, the export unit value index fell 0.8 per cent, while the volume index declined 16.7 per cent,” it said.

The import unit value index also decreased in April 2023 by 0.8 per cent, contributed by the decrease in the index of machinery and transport equipment (2.5 per cent), chemicals (0.3 per cent) and manufactured goods (0.1 per cent).

The import volume index shrank 9.4 per cent in April 2023 against the previous month, attributed to the decrease in the index of miscellaneous manufactured articles (19.2 per cent), manufactured goods (9.7 per cent) as well as machinery and transport equipment (8.1 per cent).

“The seasonally adjusted import volume index decreased by 10.3 per cent to 157.5 points from 175.6 points. On a year-on-year (y-o-y) basis, the import unit value index fell 0.6 per cent, while the volume index declined by 10.4 per cent,” DOSM said.

Meanwhile, Malaysia’s terms of trade rose by 0.3 per cent m-o-m to 110.7 points in April 2023, in accordance with the increase in the index of machinery and transport equipment (3.9 per cent), inedible crude materials (1.3 per cent) and food (0.3 per cent).

Malaysia’s terms of trade decreased by 0.2 per cent y-o-y from 110.9 points in April of the previous year.

— Bernama

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