Stats Dept: Malaysia’s export, import unit value indices up in April 2022

KUALA LUMPUR, June 3 — Malaysia’s export prices in April 2022 remained steady with an increase of 1.1 per cent to 143.0 points from 141.5 points in March 2022, said the Department of Statistics Malaysia (DoSM).

Meanwhile, the import unit value index also registered an increase of 2.4 per cent to 129.0 points, outpacing the export unit value index, resulting in a 1.4 per cent drop in Malaysia’s terms of trade, it said in the External Trade Indices report for April 2022.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth in the export unit value index was supported by the increases in the index of animal and vegetable oils and fats (+7.6 per cent); machinery and transport equipment (+1.5 per cent) and chemicals (+1.2 per cent).

“Conversely, the export volume index fell 4.1 per cent in the same month, contributed by the decreases in the index of animal and vegetable oils & fats (-11.8 per cent); machinery and transport equipment (-10.7 per cent); and mineral fuels (-5.5 per cent).

“The seasonally adjusted export volume index dropped 4.7 per cent from 170.1 points to 162.1 points,” he said.

On an annual comparison, Mohd Uzir said both the export unit value and volume index continued to grow 18.4 per cent and 2.0 per cent, respectively.

He said the performance for import unit value index was contributed by the increase in the index of mineral fuels (+11.4 per cent); animal and vegetable oils and fats (+5.9 per cent); as well as machinery and transport equipment (+1.1 per cent).

Contrarily, he said the import volume index declined 3.3 per cent in April 2022 as compared to the previous month, attributed from the drop in the index of mineral fuels (-14.2 per cent); miscellaneous manufactured articles (-10.0 per cent); and machinery and transport equipment (-1.8 per cent).

“Similarly, the seasonally adjusted import volume index in April 2022 also decreased by 7.0 per cent from 189.9 points to 176.7 points,” he said.

On a year-on-year (y-o-y) basis, Mohd Uzir pointed out that both the import unit value and volume indices rose 10.7 per cent and 10.2 per cent, respectively.

Malaysia’s terms of trade depleted by 1.4 per cent month-on-month to 110.9 points in April 2022, contributed by the decreases in the index of mineral fuels (-12.1 per cent) and inedible crude materials (-0.4 per cent).

On a y-o-y basis, it said Malaysia’s terms of trade performance showed positive growth of 6.9 per cent from 103.7 points in April last year. — Bernama