Malaysia's export and import unit value indices recorded positive growth in February 2022 of 2.1% and 1.3% respectively, according to the Department of Statistics Malaysia (DOSM) External Trade Indices report for the month.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the export unit value index’s growth was supported by increases in the indices of mineral fuels (8%), animal and vegetable and oil fats (2.2%), as well as machinery and transport equipment (0.7%).
“On the other hand, the export volume index fell 9.8% in the same month, reflected by a deterioration in the indices of manufactured goods (-14.9%), machinery and transport equipment (-12.2%), and miscellaneous manufactured articles (-10.9%)," he said in a statement on Monday (April 4).
Mohd Uzir said the seasonally adjusted export volume index grew 2.8% from 155.6 points to 160 points, while year-on-year (y-o-y), both the export unit value and volume indices continued to expand at 16.4% and 0.3% respectively.
Meanwhile, he said the import unit value index’s growth was driven by an improvement in the indices of mineral fuels (9%), animal and vegetable oils and fats (1.2%) and chemicals (0.2%).
Conversely, the import volume index fell by 12% in February 2022, compared to January 2022, due to a deterioration in the indices of manufactured goods (-16.3%), machinery and transport equipment (-13.1%), and chemicals (-10.4%).
"The seasonally adjusted import volume index in February 2022 increased by 0.4% from 169.7 points to 170.3 points. On a y-o-y basis, both the import unit value and volume indices expanded 7.5% and 10.1% respectively," he said.
The DOSM also reported that Malaysia’s terms of trade increased by 0.8% month-on-month to 109.9 points in February 2022, while y-o-y, it showed a positive growth of 8.3%.