Malaysia’s export prices in April 2023 recorded a decline of 0.5 per cent from 142.6 points in the preceding month to 141.9 points.
Meanwhile, import unit value index also shrank 0.8 per cent from 129.2 points to 128.2 points.
Accordingly, Malaysia’s terms of trade showed an increase of 0.3 per cent month-on-month to 110.7 points in April 2023 as reported today (May 26) in the Department of Statistics Malaysia (DOSM) EXTERNAL TRADE INDICES (2010=100), April 2023. This publication presents the unit value and volume index by sections for both exports and imports of goods.
DOSM said: “The export unit value index decreased by 0.5 per cent in April 2023 as compared to the previous month, attributed from the fall in the index of mineral fuels (-4.3%), manufactured goods (-0.3%) and animal & vegetable oils & fats (-0.3%). Besides that, the export volume index declined by 18.3 per cent in the same month, in line with the decrease in the index of miscellaneous manufactured articles (-29.3%), mineral fuels (-16.6%) and machinery & transport equipment (-16.2%).
The seasonally adjusted export volume index plummeted by 17.2 per cent from 165.1 points to 136.6 points. On an annual comparison, the export unit value index fell 0.8 per cent while the volume index declined 16.7 per cent.”
The import unit value index also decreased in April 2023 by 0.8 per cent, contributed by the decrease in the index of machinery & transport equipment (-2.5%), chemicals (-0.3%) and manufactured goods (-0.1%). The import volume index showed a shrinkage of 9.4 per cent in April 2023 as compared to the previous month, attributed from the decrease in the index of miscellaneous manufactured articles (-19.2%), manufactured goods (-9.7%) and machinery & transport equipment (-8.1%).
The seasonally adjusted import volume index decreased by 10.3 per cent from 175.6 points to 157.5 points. On a year-on-year basis, the import unit value index fell 0.6 per cent, while the volume index declined by 10.4 per cent.
DOSM also reported Malaysia’s terms of trade rose by 0.3 per cent month-on-month to 110.7 points in April 2023, in accordance with the increase in the index of machinery & transport equipment (+3.9%), inedible crude materials (+1.3%) and food (+0.3%). Malaysia’s terms of trade decreased by 0.2 per cent year-on-year from 110.9 points in April of previous year.
