Malaysia’s Terms Of Trade Grew By 1% In May

Malaysia’s terms of trade grew by 1.0 per cent month-on-month to 112.0 points in May 2022, contributed by the increase in the index of miscellaneous transactions & commodities (+22.3%), machinery & transport equipment (+0.57%) and miscellaneous manufactured articles (+0.55%), Department of Statistics Malaysia said.

It said that on a y-o-y basis, Malaysia’s terms of trade performance showed positive growth of 8.2 per cent from 103.5 points in May of the previous year.

On the export value, DOSM said that the export unit value index grew 3.9 per cent in May 2022 as compared with the previous month, supported by the increases in the index of mineral fuels (+9.6%), animal & vegetable oil & fats (+6.0%) and machinery & transport equipment (+2.4%).

However, it said that export volume index fell 9.1 per cent in the same month, contributed by the decreases in the index of manufactured goods (-11.8%), miscellaneous manufactured articles (-14.2%), and machinery & transport equipment (-6.8%).

DOSM said that the  seasonally adjusted export volume index dropped 9.1 per cent from 162.2 points to 152.4 points. On annual comparison, both export unit value and volume indices continued to grow 22.2 per cent and 6.9 per cent, respectively

On the import unit value, it said that it the index grew 2.9 per cent in May 2022 as compared with the previous month, contributed by the increases in the index of animal & vegetable oils & fats (+11.7%), mineral fuels (+11.0%) and machinery & transport equipment (+1.9%).

 Similarly, it said that the import volume index also grew 0.7 per cent in May 2022 as compared to the previous month, contributed by the increases in the index of foods (+9.5%), machinery & transport equipment (+6.3%) and miscellaneous manufactured articles (+4.0%). Correspondingly, seasonally adjusted import volume index in May 2022 also increased by 0.7 per cent from 177.0 points to 185.6 points. On a year-on-year basis, both the import unit value and volume indices rose 12.9 per cent and 21.7 per cent, respectively.

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