MALAYSIA’S export and import unit value indices grew by 1.6% and 0.3% respectively in July, compared with the previous month, the Statistics Department said.

The department said the rise in the export unit value index was backed by the increase in mineral fuels (+6.9%), machinery and transport equipment (+0.8%) and miscellaneous manufactured articles (+0.4%) indices.

Meanwhile, the import unit value index improved due to the expansion in mineral fuels (+1.9%), machinery and transport equipment (+0.6%) and miscellaneous manufactured articles (+0.4%) indices.

“Export volume index, however, decreased 9.7% in the same month, contributed by the falls in the index of miscellaneous manufactured articles (-15.2%), machinery and transport equipment (-10%) and mineral fuels (-9.6%).

“Similarly, the seasonally adjusted export volume index decreased 15.1% in July, from 190.9 points to 162.1 points,” it said.

The department said on an annual comparison basis, both the export unit value and volume indices continued to grow 20.6% and 14.4%, respectively.

Additionally, the department said the import volume index decreased 4.8% in July against the previous month, contributed by falls in the index of manufactured goods (-13.8%), chemicals (-7.1%) and machinery and transport equipment (-3.6%).

Besides that, the seasonally adjusted import volume index also decreased by 10.5% from 219 points to 195.9 points.

“On a year-on-year basis, both the import unit value and volume indices rose 12.9% and 25.7%, respectively,” it said.

On another note, the department said Malaysia’s terms of trade increased by 1.3% month-on-month to 112.2 points in July, contributed by increases in the index of mineral fuels (+5.0%), animal and vegetable oils and fats (+2.8%) and chemicals (+0.5%).

On a year-on-year basis, Malaysia’s terms of trade performance showed a positive growth of 6.8% from 105.0 points in July of previous year. – Bernama, September 2, 2022.