Malaysia records increase in external trade unit values in August

KUALA LUMPUR: Malaysia's export and import unit value in August rose 1.4% and 0.9% respectively from the previous month, the Department of Statistics Malaysia revealed today.

In statement, national chief statistician Datuk Sri Dr Mohd Uzir Mahidin said the export unit value rose on the back of an increase in the index of mineral fuels, animal and vegetable oils and fats, and machinery and transport equipment.

However, the export volume index declined 3.2% in August due to decreases in the volume index of the same export products.

The seasonally adjusted export volume index grew 5.1 per cent from 137.0 points to 143.9 points.

"When compared to the previous year, the export unit value and volume index grew 16.2 per cent and 1.9 per cent, respectively,' said Mohd Uzir.

Meanwhile, the increase in the import unit value index was owing to the growth in the index of mineral fuels, animal and vegetable oils and fats and manufactured good.

The import volume index decreased 12 % in August from the preceding month, underpinned by a contraction in the index of the import goods.

The seasonally adjusted import volume index in August 2021 posted a decrease of 11% from 154.1 points to 137.2 points. "On a year-on-year basis, both the import unit value and volume indices expanded 6.4 per cent and 5.7 per cent, respectively," said Mohd Uzir.

In the same month, Malaysia's terms of trade increased 0.6% month-on-month to 105.6 points.

Year-on-year the terms of trade performance remained positive at 9.2% from 96.7 points in August last year.

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