DOSM: Malaysia’s export prices dip 0.6pc in September, import prices down 1.9pc

KUALA LUMPUR, Oct 28 — Malaysia’s export prices in September 2024 slipped by 0.6 per cent to 149.3 points from 150.3 points in August while import prices fell 1.9 per cent to 129.5 points, said the Statistics Department of Malaysia (DoSM) today.

The department said in a statement today that Malaysia’s terms of trade grew 1.3 per cent month-on-month to 117.5 points in September while on an annual basis, Malaysia’s terms of trade climbed 6.1 per cent from 110.7 points in September the previous year.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the export unit value index edged down by 0.6 per cent in September 2024 against August 2024, driven by declines in the indices of mineral fuels (4. 0 per cent), manufactured goods (1. 4 per cent) and chemicals (0. 8 per cent).

At the same time, the export volume index fell by 3.2 per cent, in line with the decline in the index of manufactured goods (12.4 per cent), miscellaneous manufactured articles (10.6 per cent) and mineral fuels (10.2 per cent).

The seasonally adjusted export volume index declined by 13.5 per cent to 147.3 points from 170.3 points. On an annual comparison, the unit value index increased by 3.3 per cent while the volume index dropped by 3.4 per cent.

DOSM said the import unit value index edged down 1.9 per cent in September 2024, contributed by the drop in the index of mineral fuels (9.8 per cent), chemicals (1.0 per cent) as well as machinery and transport equipment (0.5 per cent).

The import volume index slid 8.5 per cent in September 2024 compared to the previous month, contributed by the decline in the index of chemicals (18.5 per cent), manufactured goods (14.2 per cent) and machinery and transport equipment (8.0 per cent).

The seasonally adjusted import volume index slipped by 18.2 per cent from 229.1 points to 187.3 points. A year-on-year comparison showed that the unit value index was down by 1.4 per cent and the volume index grew by 14.0 per cent.

Nevertheless, Malaysia’s terms of trade expanded 1.3 per cent month-on-month to 117.5 points in September 2024, driven by the increase in the index of mineral fuels (6.4 per cent), food (1.2 per cent) and machinery and transport equipment (0.7 per cent). — Bernama