Export, import unit value slips 3.7% and 1.4%, respectively, in may


  • Economy
  • Friday, 03 Jul 2020

KUALA LUMPUR: Malaysia's export and import unit value indexes declined 3.7 per cent and 1.4 per cent month-on-month to 109.9 points and 113.1 points, respectively, in May, according to the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the decrease in export unit value index was due to the decrease in the index of mineral fuels (-20.5 per cent), animal & vegetable oils & fats (-6.2 per cent) and machinery & transport equipment (-0.4 per cent).

However, the export volume index rose 0.4 per cent to 107.2 points led by the growth in the index of miscellaneous manufactured articles (+23.8 per cent), animal & vegetable oils & fats (+13.7 per cent) and manufactured goods (+13.1 per cent).

In seasonally adjusted terms, the export volume index increased marginally by 0.2 per cent to 106.4 points.

Overall, both the export unit value and volume indices declined 4.7 per cent and 21.9 per cent, respectively, compared to the same period last year.

As for the import unit value index, Mohd Uzir said the downtrend was due to the decrease in the index of mineral fuels (-12.5 per cent), animal & vegetable oils & fats (-5.5 per cent) and machinery & transport equipment (-0.4 per cent).

In addition, the import volume index depreciated by 22.6 per cent to 105.0 points amid a decrease in the index of mineral fuels (-29.5 per cent), machinery & transport equipment (-27.7 per cent) and manufactured goods (-23.5 per cent).

In seasonally adjusted terms, the import volume index in May 2020 shrank 28.1 per cent to 101.2 points.

Mohd Uzir said Malaysia also reported that its terms of trade dropped 2.3 per cent to 97.1 points compared with that of April 2020.

On a year-on-year basis, Malaysia’s terms of trade registered a marginal growth of 0.2 per cent from 96.9 points.- Bernama

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