Malaysia export, import unit value indices continue to grow

by MUHAMAD AMIR AIMAN AZLAN / pic by MUHD AMIN NAHARUL

THE monthly export and import value indices showed promising growth at 1.4% and 0.9% respectively last month.

The Department of Statistics Malaysia (DOSM) chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase of the export unit value was contributed by the rise in the index of mineral fuels (+5.3%), animal and vegetable oils and fats (+1.4%), and machinery and transport equipment (+0.6%).

“Nevertheless, the export volume index recorded a decline of 3.2% in the same month, due to the decreases in the index of mineral fuels (-21.1%), animal and vegetable oils and fats (-17.4%) and machinery and transport equipment (-0.9%),” he said in a statement yesterday.

Mohd Uzir said the seasonally adjusted export volume index grew 5.1% from 137 points to 143.9 points.

In comparison to the previous year, the export unit value had grown to 16.2% and the volume index showed the same trend at 1.9%.

For the import unit value, the growth was contributed by the index of mineral fuels (+7.2%), animal and vegetable oils and fats (+1.5%) and manufactured goods (0.3%).

However, the import volume index declined 12% due to weak performance of the index of mineral fuels (-35.7%), machinery and transport equipment (-6.2%) and manufactured goods (-3.3%).

“The seasonally adjusted import volume index last month showed a decline of 11% from 154.1 points to 137.2 points while on a year-on-year basis, the import unit value index increased 6.4% and the import volume indices expanded 5.7%,” Mohd Uzir said.

DOSM also reported that Malaysia’s terms of trade increased by 0.6% month-on-month to 105.6 points in August 2021.

On a yearly basis, Malaysia’s terms of trade performance remained positive at 9.2% from 96.7 points in August of the previous year.