KUALA LUMPUR: Malaysia’s terms of trade maintained positive growth of 2.2 per cent year-on-year in January 2023, from 109.1 points in the same period last year, according to the Department of Statistics (DOSM).
Chief Statistician Datuk Seri Mohd Uzir Mahidin said on a monthly comparison, Malaysia’s terms of trade, however, returned to a negative performance of 0.1 per cent to 111.5 points in January 2023 against December 2022, due to decreases in the index of food (0.14 per cent), machinery and transport equipment (0.6 per cent) and animal and vegetable oils and fats (0.08 per cent).
He said the export and import unit value indices showed a declining momentum in January 2023, with exports falling 1.3 per cent to 142.7 points compared with December 2022, while imports eased 1.1 per cent to 128.0 points.
“The export unit value index decrease was attributed to declines in the index of mineral fuels (5.8 per cent), chemicals (0.3 per cent), and miscellaneous manufactured articles (0.2 per cent),” he said in a statement on January’s external trade indices.
Mohd Uzir said the export volume index fell by 13.2 per cent in the same month, in line with the decreases in the index of animal and vegetable oils and fats (40.4 per cent), miscellaneous manufactured articles (21.4 per cent) and machinery and transport equipment (13.8 per cent).
“The seasonally adjusted export volume index dropped 6.9 per cent from 161.1 points to 150.1 points.
“On an annual comparison, the export unit value index expanded 7.6 per cent while the volume index contracted 5.6 per cent,” he said.
As for imports, he said the unit value index decreased in January supported due to the declines in the index of mineral fuels (6.8 per cent), chemicals (0.4 per cent), and miscellaneous manufactured articles (0.3 per cent).
The import volume index also decreased 7.4 per cent in January 2023 compared to the previous month, attributed to the declines in the index of miscellaneous manufactured articles (16.8 per cent), machinery and transport equipment (7.5 per cent), and mineral fuels (6.3 per cent), he said.
“The seasonally adjusted import volume index fell by 5.4 per cent from 175.4 points to 165.9 points.
“On a year-on-year basis, import unit value index expanded 5.3 per cent while volume index contracted 2.6 per cent,” he added. – BERNAMA
