Malaysia’s export prices in December 2023 slipped by 0.9 per cent from 149.3 points in the previous month to 148.0 points.
Likewise, import prices decreased by 1.0 per cent from 130.9 points to 129.6 points while Malaysia’s terms of trade grew 0.1 per cent month-on-month to 114.6 points in December 2023 as reported today (Jan 26) by the Department of Statistics Malaysia (DOSM) in Malaysia External Trade Indices, December 2023 release.
This publication presents the unit value index, volume index and terms of trade for 10 commodity sections of merchandise products in accordance with the Standard International Trade Classification (SITC).
Chief Statistician Malaysia Dato’ Sri Dr. Mohd Uzir Mahidin said, “The export unit value index fell by 0.9 per cent in December 2023 as compared to the previous month, led by the decrease in the index of animal & vegetable oils & fats (-3.6%), mineral fuels (-2.4%) and manufactured goods (-0.5%).
“At the same time, the export volume index went down by 1.8 per cent in line with the decrease in the index of mineral fuels (-14.8%), food (-8.0%) and chemicals (-3.9%). The seasonally adjusted export volume index declined by 9.3 per cent from 155.4 points to 140.9 points.
Referring to the annual comparison, the unit value index grew 2.4 per cent and volume index decreased by 12.0 per cent. The import unit value index shrank by 1.0 per cent in December 2023, contributed by the decrease in the index of mineral fuels (-4.5%), machinery & transport equipment (-0.5%) and chemicals (-0.5%).
The import volume index also dropped by 1.6 per cent in December 2023 as compared to the previous month, attributed to the contraction in the index of chemicals (-6.3%), machinery & transport equipment (-3.8%) and miscellaneous manufactured articles (-1.2%).
The seasonally adjusted import volume index edged up by 0.2 per cent from 188.1 points to 188.4 points. Year-on-year comparison showed that the import unit value index shrank by 0.3 per cent and volume index increased by 3.4 per cent.”
In addition, Malaysia’s terms of trade expanded by 0.1 per cent month-on-month to 114.6 points in December 2023, driven by the increase in the index of mineral fuels (+2.2%), food (+0.9%) and inedible crude materials (+0.8%).
Likewise, Malaysia’s terms of trade grew by 2.7 per cent year-on-year from 111.6 points in December of the previous year.
