Malaysia's export, import unit value indices slip in January - DoSM

KUALA LUMPUR: Malaysia’s export unit value index slipped by 0.5 per cent to 147.2 points in January 2024 from 148.0 points in the previous month, said the Department of Statistics (DoSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin said the drop in the export unit value index was led by the decrease in the index of mineral fuels (-2.8 per cent) and manufactured goods (-0.2 per cent), as well as machinery and transport equipment (-0.2 per cent).

"However, the export volume index went up by 4.0 per cent in line with the increase in the index of mineral fuels (+30.4 per cent), manufactured goods (+9.6 per cent) and chemicals (+2.4 per cent)," he said in a statement today.

The seasonally adjusted export volume index grew by 16.1 per cent to 163.5 points from 140.8 points previously, he said.

On an annual comparison, the unit value index and volume index increased by 3.1 per cent and 5.4 per cent, respectively.

Meanwhile, Mohd Uzir said the import unit value index decreased by 0.1 per cent to 128.5 points from 128.7 points previously, contributed by the decline in the index of mineral fuels (-2.6 per cent), inedible crude materials (-0.3 per cent) and manufactured goods (-0.2 per cent).

The import volume index grew by 5.6 per cent in January 2024 as compared to the previous month, attributed to the increment in the index of food (+20.8 per cent), manufactured goods (+13.6 per cent) and mineral fuels (+6.0 per cent).

"The seasonally adjusted import volume index edged up by 9.8 per cent to 208.4 points from 189.8 points.

"The year-on-year comparison showed that the import unit value index and volume index rose by 0.4 per cent and 18.5 per cent, respectively," he said.

In addition, Malaysia's terms of trade dropped by 0.4 per cent month-on-month to 114.5 points in January 2024, driven by the decrease in the index of animal and vegetable oils and fats (-1.3 per cent), machinery and transport equipment (-0.4 per cent) and mineral fuels (-0.2 per cent).

The terms of trade grew by 2.7 per cent year-on-year in January 2024 from 111.5 points in the same month last year. - Bernama