Malaysia’s export, import unit value indices up 1.3% and 1% in November

by SHAFIQQUL ALIFF / pic by MUHD AMIN NAHARUL

MALAYSIA’S monthly export and import unit value indices for November 2021 recorded positive growths of 1.3% and 1% respectively, while Malaysia’s total trade registered an upward trend, increasing 1.5% in November 2021 compared to the previous month.

The Department of Statistics Malaysia (DoSM), in a statement yesterday, stated the export value shrank 1.9% to RM112.2 billion in the same month, reflected by deterioration in the exports of manufactured goods (-12.3%), inedible crude materials (-4.7%) and machinery and transport equipment (-4.3%).

Imports grew by 5.9% month-on-month (MoM) in November 2021 to RM93.3 billion, mainly due to the increase in the imports of manufactured goods (+12.8%), chemicals (+12.6%), and machinery and transport equipment (+4.8%), while trade value declined 28.1% MoM to RM18.9 billion.

Chief statistician, Datuk Seri Dr Mohd Uzir Mahidin said the export unit value index grew 1.3% MoM in November, contributed by increases in the index of mineral fuels (+5.4 %), animal and vegetable oils and fats (+1.1%), and machinery and transport equipment (+0.4%).

The export volume index fell 3.2%, reflecting the deterioration in the index of manufactured goods (-12.1%), machinery and transport equipment (-4.7%), and mineral fuels (-3.5%).

“The seasonally adjusted export volume index rose 6.3% from 152.6 points to 162.2 points. On an annual comparison, both export unit value and volume index surged 16.8% and 13.5% respectively,” he said.

Mohd Uzir added that the import unit value index rose 1% in November compared to October 2021, attributed to increases in the index of animal and vegetable oils and fats (+10.3%), mineral fuels (+4.5 %), and machinery and transport equipment (+0.4%).

The import volume index increased 4.8% in Nov 2021 compared to the preceding month, driven by increases in the index of manufactured goods (+12.6%), chemicals (+12.4%) and machinery and transport equipment (+4.4%).

“The seasonally adjusted import volume index in November 2021 climbed 5.8% from 159.5 points to 168.7 points. On a year-on-year basis, he pointed out that both import unit value and volume indices expanded 8.7% and 27.1% respectively,” he said further.

Malaysia’s terms of trade rose by 0.3% MoM to 107 points in Nov 2021 and trade performance remained positive at 7.5% from 99.6 points compared in the November previous year.

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