Malaysia’s August 2023 export unit value index rose a marginal 0.5 per cent to 142.3 points, the Department of Statistics Malaysia (DoSM) said.
The Department of Statistics, Malaysia (DOSM) released the Malaysian Economic Statistics Review (MESR) Vol. 9/2023 which revealed the export unit value index went up led by the minerals fuels index which rose by 5.0 per cent and a 0.3 per cent rise in food.
However, the export volume index fell by 1.9 per cent in the same month, in line with an 11 per cent fall in the inedible crude materials and a 10.7 per cent drop in the machinery and transport equipment indices.
The import unit value index also grew by 1.0 per cent in August 2023, contributed by a rise in the index of animal and vegetable oils and fats (+9.6 per cent), mineral fuels (+7.0 per cent) and food (+0.3 per cent), it said in a statement.
The import volume index went down 2.6 per cent in August 2023 versus the previous month due to a deterioration in the index of mineral fuels (-17.1 per cent), chemicals (-3.0 per cent) and manufactured goods (-2.7 per cent).
DoSM said Malaysia’s terms of trade fell by 0.5 per cent month-on-month to 110.5 points in August 2023, driven by a drop in the index of animal and vegetable oils and fats (-9.2 per cent), mineral fuels (-1.9 per cent), and miscellaneous manufactured articles (-0.9 per cent).
Malaysia’s terms of trade decreased by 0.5 per cent month-on-month to 110.5 points in August 2023, driven by the drop in the index of animal & vegetable oils & fats (-9.2%), mineral fuels (-1.9%) and miscellaneous manufactured articles (-0.9%). However, Malaysia’s terms of trade shrank by 1.3 per cent year-on-year from 111.9 points in August of the previous year.