Stats Dept: Malaysia’s export, import unit value indices continued to grow in Aug

KUALA LUMPUR, Oct 4 — Malaysia’s monthly export and import unit value indices continued to record positive growth in August 2021, at 1.4 per cent and 0.9 per cent month-on-month (m-o-m) respectively, the Department of Statistics Malaysia (DoSM) said. 

Chief statistician Datuk Seri Mohd Uzir Mahidin said the export unit value index rose 1.4 per cent in August 2021 compared with the previous month, contributed by the increases in the index of mineral fuels (5.3 per cent), animal and vegetable oils and fats (1.4 per cent) as well as machinery and transport equipment (0.6 per cent).

“On the other hand, the export volume index recorded a decline of 3.2 per cent in the same month, reflected by the decreases in the index of mineral fuels (-21.1 per cent), animal and vegetable oils and fats (-17.4 per cent), and machinery and transport equipment (-0.9 per cent),” he said in an external trade indices report released today.

Mohd Uzir said the seasonally adjusted export volume index grew 5.1 per cent from 137.0 points to 143.9 points.

“When compared to the previous year, the export unit value and volume index grew 16.2 per cent and 1.9 per cent, respectively,” he added. 

Meanwhile, he said the import unit value index grew 0.9 per cent in August 2021 compared with the previous month and the increment was driven by the growths in the index of mineral fuels (7.2 per cent), animal and vegetable oils and fats (1.5 per cent) and manufactured goods (0.3 per cent).

“In contrast, the import volume index declined 12.0 per cent in the same month as compared to the preceding month, attributed to the deterioration in the index of mineral fuels (-35.7 per cent), machinery and transport equipment (-6.2 per cent) and manufactured goods (-3.3 per cent),” he said.

Mohd Uzir said the seasonally adjusted import volume index in August 2021 posted a decrease of 11.0 per cent from 154.1 points to 137.2 points.

“On a year-on-year basis, both the import unit value and volume indices expanded 6.4 per cent and 5.7 per cent, respectively,” he said. 

DoSM also reported that Malaysia’s terms of trade increased by 0.6 per cent m-o-m to 105.6 points in August 2021.

On a year-on-year basis, Malaysia’s terms of trade performance remained positive at 9.2 per cent from 96.7 points in August of the previous year. — Bernama