KUALA LUMPUR, June 28 — Malaysia’s export and import unit value indices declined 0.2 per cent in May 2023, with exports falling to 141.7 points against 141.9 points in April while imports fell to 127.9 points from 128.2 points, said the Statistics Department Malaysia (DOSM).
In a statement today, it said the fall in the export unit value index was due to a decrease in the index of animal, vegetable oils and fats (-1.9 per cent), mineral fuels (-0.1 per cent) and miscellaneous manufactured articles (-0.1 per cent).
Meanwhile, the export volume index increased by 13.9 per cent in the same month, in line with the increase in the index of mineral fuels (+29.5 per cent), miscellaneous manufactured articles (+25.2 per cent) and machinery and transport equipment (+8.0 per cent).
“The seasonally adjusted export volume index grew by 24.9 per cent from 136.3 points to 170.3 points. For a year-on-year comparison, the export unit value index plummeted 4.7 per cent while the volume index increased by 4.2 per cent,” DOSM said.
On another note, the import unit value index also dropped by 0.2 per cent in May 2023, led by a decrease in the index of mineral fuels (-4.5 per cent), animal, vegetable oils and fats (-1.8 per cent) and chemicals (-0.2 per cent).
The import volume index rose by 12.8 per cent in May 2023 compared to the previous month, due to a rise in the index of mineral fuels (+24.4 per cent), chemicals (+19.1 per cent) and machinery and transport equipment (+6.7 per cent).
“The seasonally adjusted import volume index also went up by 18.8 per cent from 157.6 points to 187.2 points. For a year-on-year comparison, the import unit value index fell 3.5 per cent, while the volume index increased by 0.4 per cent,” it said.
As for Malaysia’s terms of trade on a month-on-month basis which rose by 0.1 per cent to 110.8 points in May 2023, the rise was in accordance with an increase in the index of mineral fuels (+4.7 per cent), manufactured goods (+0.9 per cent) and inedible crude materials (+0.8 per cent).
However, DOSM said Malaysia’s terms of trade shrank by 1.2 per cent year-on-year from 112.1 points in May 2022.
— Bernama
