Malaysia’s export prices in September 2023 rose by 1.6 per cent from 142.3 points in the previous month to 144.6 points.
Similarly, import prices increased by 1.5 per cent from 128.8 points to 130.7 points, and Malaysia’s terms of trade grew 0.1 per cent month-on-month to 110.6 points in September 2023 as reported today in External Trade Indices (2010=100), September 2023.
Chief Statistician Malaysia, Dato’ Sri Dr. Mohd Uzir Mahidin said, “The export unit value index went up by 1.6 per cent in September 2023 as compared to the previous month, led by the increase in the index of mineral fuels (+3.6%), animal & vegetable oils & fats (+2.6%) and machinery & transport equipment (+1.0%).
“Likewise, the export volume index rose by 6.5 per cent in the same month, in line with the increase in the index of machinery & transport equipment (+21.3%), animal & vegetable oils & fats (+7.0%) and miscellaneous manufactured articles (+2.7%). The seasonally adjusted export volume index slipped by 4.1 per cent from 161.1 points to 154.5 points.
“Referring to the annual comparison, the unit value and volume indices decreased by 3.5 per cent and 10.6 per cent, respectively. The import unit value index also grew by 1.5 per cent in September 2023, contributed by the rise in the index of mineral fuels (+5.8%), machinery & transport equipment (+1.3%) and chemicals (+0.3%).”
Meanwhile, the import volume index went down 1.3 per cent in September 2023 as compared to the previous month, attributed to the deterioration in the index of animal & vegetable oils & fats (-46.8%) and mineral fuels (-6.0%). The seasonally adjusted import volume index increased 2.6 per cent from 170.4 points to 174.8 points.
Year-on-year comparison showed that the import unit value and volume indices decreased by 1.4 per cent and 11.5 per cent, respectively, he added.
Besides that, Malaysia’s terms of trade expanded by 0.1 per cent month-on-month to 110.6 points in September 2023, driven by the growth in the index of miscellaneous manufactured articles (+0.8%), chemicals (+0.8%) and food (+0.2%).
However, Malaysia’s terms of trade shrank by 2.1 per cent year-on-year from 113.0 points in September of the previous year.
