DoSM said the rise in the export unit value index was backed by the increase in mineral fuels, machinery and transport equipment, and miscellaneous manufactured articles indices.– Bernama photo
KUALA LUMPUR (Sept 2): Malaysia’s export and import unit value index grew by 1.6 per cent and 0.3 per cent, respectively, in July 2022, compared to the previous month, said the Department of Statistics Malaysia (DoSM).
The department said the rise in the export unit value index was backed by the increase in mineral fuels (+6.9 per cent), machinery and transport equipment (+0.8 per cent), and miscellaneous manufactured articles (+0.4 per cent) indices.
Meanwhile, the import unit value index improved due to the expansion in the mineral fuels (+1.9 per cent), machinery and transport equipment (+0.6 per cent) and miscellaneous manufactured articles (+0.4 per cent) indices.
“Export volume index, however, decreased 9.7 per cent in the same month, contributed by the decrease in the index of miscellaneous manufactured articles (-15.5), machinery and transport equipment (-10 per cent) and mineral fuels (-9.6 per cent).
“Similarly, the seasonally adjusted export volume index decreased 15.1 per cent in July 2022, from 190.9 points to 1621 points,” it said.
DoSM said on an annual comparison basis, both the export unit value and volume indices continued to grow 20.6 per cent and 14.4 per cent, respectively.
Additionally, DoSM said the import volume index decreased 4.8 per cent in July 2022 against the previous month, contributed by falls in the index of manufactured goods (-13.8 per cent), chemicals (-7.1 per cent) and machinery and transport equipment (-3.6 per cent).
Besides that, the seasonally adjusted import volume index also decreased by 10.5 per cent from 219 points to 195.9 points.
“On a year-on-year basis, both the import unit value and volume indices rose 12.9 per cent and 25.7 per cent, respectively,” it said.
On another note, DoSM said Malaysia’s terms of trade increased by 1.3 per cent month-on-month to 112.2 points in July 2022, contributed by increases in the index of mineral fuels (+5.0 per cent), animal and vegetable oils & fats (+2.8 per cent) and chemicals (+0.5 per cent).
On a year-on-year basis, Malaysia’s terms of trade performance showed a positive growth of 6.8 per cent from 105.0 points in July of previous year. — Bernama