Malaysia’s export and import unit value index grew by 1.6 per cent and 0.3 per cent, respectively, in July 2022, compared to the previous month.
The rise in the export unit value index was backed by the increase in mineral fuels (+6.9 per cent), machinery and transport equipment (+0.8 per cent) and miscellaneous manufactured articles (+0.4 per cent) indices.
The indexes were revealed in the Department of Statistics Malaysia’s (DOSM) Malaysia External Trade Indices, July 2022 report today.
On annual comparison, both export unit value and volume indices continued to grow 20.6 per cent and 14.4 per cent, respectively.
The import unit value index also improved due to the expansion in the mineral fuels (+1.9 per cent), machinery and transport equipment (+0.6 per cent) and miscellaneous manufactured articles (+0.4 per cent) indices.
“Export volume index, however, decreased 9.7 per cent in the same month, contributed by the decrease in the index of miscellaneous manufactured articles (-15.5), machinery and transport equipment (-10 per cent) and mineral fuels (-9.6 per cent).
“Similarly, the seasonally adjusted export volume index decreased 15.1 per cent in July 2022, from 190.9 points to 1621 points,” it said.
On an annual comparison basis, the report showed both the export unit value and volume indices continuing to grow by 20.6 per cent and 14.4 per cent, respectively.
Additionally, DOSM said the import volume index decreased 4.8 per cent in July 2022 against the previous month, contributed by falls in the index of manufactured goods (-13.8 per cent), chemicals (-7.1 per cent) and machinery and transport equipment (-3.6 per cent).
And, in this case, on a year-on-year basis, both the import unit value and volume indices rose 12.9 per cent and 25.7 per cent, respectively.
Malaysia’s terms of trade increased by 1.3 per cent month-on-month to 112.2 points in July 2022, contributed by the increases in the index of mineral fuels (+5.0%), animal & vegetable oils & fats (+2.8%) and chemicals (+0.5%).
On a y-o-y basis, Malaysia’s terms of trade performance showed a positive growth of 6.8 per cent from 105.0 points in July of previous year.
