Malaysia’s import unit value index showed a positive trend month-on-month (m-o-m) with a 0.6% growth to 128.7 points in February 2023 from 128.0 points in January 2023.
The Department of Statistics (DOSM), in its February External Trade Indices (2010=100), said the increase in import unit value index was supported by a rise in machinery and transport equipment index (1.4%), mineral fuels (1.1%) and miscellaneous manufactured articles (0.3%).
It said the import volume index, however, fell 2.5% against the previous month, due to a decline in the miscellaneous manufactured articles index (16.2%), manufactured goods (-11.4%) and machinery and transport equipment (9.7%).
The seasonally adjusted import volume index grew by 10.9% from 165.6 points to 183.6 points, it added.
On a year-on-year basis, the import unit value index rose 4.6% while the volume index expanded 7.7%.
Meanwhile, the country’s export prices in the month under review fell 1.0 per cent from 142.7 points in the preceding month to 141.2 points.
DOSM said Malaysia’s terms of trade remained negative with a growth of 1.6% m-o-m to 109.7 points in February 2023.
According to its chief statistician Datuk Seri Dr Mohd Uzir Mahidin, the decline in the export unit value was due to the decline in the mineral fuels index (3.6 %), animal and vegetable oils and fats (2.7%) and machinery and transport equipment (0.4%).
Besides that, the export volume index increased by 0.7% in the same month, in line with the rise in the index of manufactured goods (16.4%), food (14.8%) and chemicals (6.9%), DOSM said.
The seasonally adjusted export volume index rose 11.7% to 167.4 points from 149.8 points. The statement said on an annual comparison, the export unit value index grew 4.4% while the volume index increased 5.2%.
DOSM also reported that Malaysia’s terms of trade contracted 1.6% m-o-m to 109.7 points in February 2023 due to a decrease in the indices for mineral fuels index (4.6%), animal and vegetable oils and fats (4%) and machinery and transport equipment (1.8%).
On a y-o-y basis, the terms of trade decreased by 0.2% from 109.9 points in February 2022.
