KUALA LUMPUR: Malaysia’s import unit value index showed a positive trend month-on-month (m-o-m) with a 0.6 per cent growth to 128.7 points in February 2023 from 128.0 points in January 2023.
The Department of Statistics (DoSM), in its February External Trade Indices (2010=100), said the increase in import unit value index was supported by a rise in machinery and transport equipment index (1.4 per cent), mineral fuels (1.1 per cent) and miscellaneous manufactured articles (0.3 per cent).
It said the import volume index, however, fell 2.5 per cent against the previous month, due to a decline in the miscellaneous manufactured articles index (16.2 per cent), manufactured goods (-11.4 per cent) and machinery and transport equipment (9.7 per cent).
The seasonally adjusted import volume index grew by 10.9 per cent from 165.6 points to 183.6 points, it added.
On a year-on-year basis, the import unit value index rose 4.6 per cent while the volume index expanded 7.7 per cent.
Meanwhile, the country’s export prices in the month under review fell 1.0 per cent from 142.7 points in the preceding month to 141.2 points.
DoSM said Malaysia’s terms of trade remained negative with a growth of 1.6 per cent m-o-m to 109.7 points in February 2023.
According to its chief statistician Datuk Seri Dr Mohd Uzir Mahidin, the decline in the export unit value was due to the decline in the mineral fuels index (3.6 per cent), animal and vegetable oils and fats (2.7 per cent) and machinery and transport equipment (0.4 per cent).
Besides that, the export volume index increased by 0.7 per cent in the same month, in line with the rise in the index of manufactured goods (16.4 per cent), food (14.8 per cent) and chemicals (6.9 per cent), DoSM said.
The seasonally adjusted export volume index rose 11.7 per cent to 167.4 points from 149.8 points. The statement said on an annual comparison, the export unit value index grew 4.4 per cent while the volume index increased 5.2 per cent.
DoSM also reported that Malaysia’s terms of trade contracted 1.6 per cent m-o-m to 109.7 points in February 2023 due to a decrease in the indices for mineral fuels index (4.6 per cent), animal and vegetable oils and fats (4.0 per cent) and machinery and transport equipment (1.8 per cent).
On a y-o-y basis, the terms of trade decreased by 0.2 per cent from 109.9 points in February 2022. - Bernama
