Malaysia’s export prices in March 2023 recorded an increase of 1.0 per cent from 141.4 points in the preceding month to 142.6 points.
Import unit value index also showed a positive trend with a growth of 0.4 per cent from 128.7 points to 129.2 points. Malaysia’s terms of trade rose by 0.6 per cent month-on-month to 110.3 points in March 2023 as reported today (April 28) in the Department of Statistics, Malaysia (DoSM) External Trade Indices (2010=100), March 2023 release which presents the unit value and volume index by sections for both exports and imports of goods.
Chief Statistician Malaysia Dato’ Sri Dr. Mohd Uzir Mahidin said: “The export unit value index increased by 1.0 per cent in March 2023 as compared to the previous month, attributed from the increase in the index of animal & vegetable oils & fats (+3.2%), machinery & transport equipment (+1.5%) and miscellaneous manufactured articles (+0.8%).
“Besides that, the export volume index rose by 14.4 per cent in the same month, in line with the expansion in the index of animal & vegetable oils & fats (+31.7%), miscellaneous manufactured articles (+23.8%) and machinery & transport equipment (+14.3%). The seasonally adjusted export volume index decreased by 1.4 per cent from 167.4 points to 165.2 points. On an annual comparison, the export unit value index remained positive at 0.7 per cent while the volume index decreased 2.1 per cent.”
The import unit value index continued to grow in March 2023 by 0.4 per cent, supported by the increase in the index of animal & vegetable oils & fats (+3.0%), food (+0.5%) and machinery & transport equipment (+0.49%).
The import volume index showed a positive trend of 10.7 per cent in March 2023 as compared to the previous month, attributed to the increase in the index of miscellaneous manufactured articles (+27.5%), manufactured goods (+25.9%) and machinery & transport equipment (+16.5%).
The seasonally adjusted import volume index decreased by 4.3 per cent from 183.6 points to 175.7 points. On a year-on-year basis, the import unit value index remained positive at 2.6 per cent while the volume index declined by 4.2 per cent.
DoSM also reported Malaysia’s terms of trade rose by 0.6 per cent month-on-month to 110.3 points in March 2023, in accordance with the increase in the index of machinery & transport equipment (+1.0%), chemicals (+0.8%) and food (+0.6%). Malaysia’s terms of trade decreased by 1.9 per cent year-on-year from 112.4 points in March of previous year.
Meanwhile, the department announced it’s conducting the Economic Census in 2023 and appreciates the cooperation of respondents to provide information and ensuring the success of this census. Please visit www.dosm.gov.my for more information.
