KUALA LUMPUR: Malaysia’s terms of trade increased 0.6 per cent month-on-month to 110.3 points in March 2023 (2010 = 100 points), said the Department of Statistics (DoSM).
In a statement today, Chief Statistician Datuk Seri Mohd Uzir Mahidin said the increase resulted from a rise in the index of machinery and transport equipment (1.0 per cent), chemicals (0.8 per cent) and food (0.6 per cent).
However, he added that the terms of trade decreased by 1.9 per cent year-on-year from 112.4 points in March 2022.
The chief statistician said the country’s export unit value index increased 1.0 per cent to 142.6 points in March 2023 from 141.4 points in the preceding month.
He said this was attributed to the increase in the index of animal and vegetable oils and fats (3.2 per cent), machinery and transport equipment (1.5 per cent) and miscellaneous manufactured articles (0.8 per cent).
“The export volume index rose by 14.4 per cent in the same month, in line with the expansion in the index of animal and vegetable oils and fats (31.7 per cent), miscellaneous manufactured articles (23.8 per cent), and machinery and transport equipment (14.3 per cent).
“The seasonally adjusted export volume index decreased by 1.4 per cent from 167.4 points to 165.2 points.
“On an annual comparison, the export unit value index remained positive at 0.7 per cent while the volume index decreased by 2.1 per cent,” he said.
Mohd Uzir said the import unit value index continued to grow in March 2023 by 0.4 per cent from 128.7 points to 129.2 points, supported by the increase in the index of animal and vegetable oils and fats (3.0 per cent), food (0.5 per cent) and machinery and transport equipment (0.49 per cent).
He noted that the import volume index showed a positive trend of 10.7 per cent in March 2023 as compared to the previous month, attributed to the increase in the index of miscellaneous manufactured articles (27.5 per cent), manufactured goods (25.9 per cent) and machinery and transport equipment (16.5 per cent).
“The seasonally adjusted import volume index decreased by 4.3 per cent from 183.6 points to 175.7 points.
“On a year-on-year basis, the import unit value index remained positive at 2.6 per cent while the volume index declined by 4.2 per cent,” he said.