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Malaysia's terms of trade up 1% in May 2022

admin2022-08-259

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Miti said trade has grown for the 16th straight month and May’s double-digit growth was the fastest since November 2021.

KUALA LUMPUR: The Department of Statistics Malaysia (DoSM) reported that Malaysia’s terms of trade expanded by 1.0 per cent month-on-month to 112.0 points in May 2022, boosted by rising export prices.

Export prices increased 3.9 per cent to 148.6 points from 143.0 points in April 2022, while the import unit value index also went up 2.9 per cent to 132.7 points, it said in a statement today.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the uptrend in the export unit value index was supported by the increases in mineral fuels (+9.6 per cent), animal, vegetable oil and fats (+6.0 per cent) as well as the machinery and transport equipment (+2.4 per cent) indices.

However, the export volume index fell 9.1 per cent in May 2022 amid a decrease in manufactured goods (-11.8 per cent), miscellaneous manufactured articles (-14.2 per cent) and machinery and transport equipment (-6.8 per cent) indices.

It said the seasonally adjusted export volume index dropped 9.1 per cent from 162.2 points to 152.4 points.

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On a year-on-year basis, both export unit value and volume indices continued to grow 22.2 per cent and 6.9 per cent, respectively.

Additionally, the import unit value index grew 2.9 per cent in May 2022 from the previous month, contributed by the increases in animal, vegetable oils and fats (+11.7 per cent), mineral fuels (+11.0 per cent) as well as machinery and transport equipment (+1.9 per cent) indices.

Similarly, the import volume index also grew 0.7 per cent in May 2022, contributed by the increases in the food (+9.5 per cent), machinery and transport equipment (+6.3 per cent) and miscellaneous manufactured articles (+4.0 per cent) indices.

The seasonally adjusted import volume index also rose by 0.7 per cent to 185.6 points in May 2022 from 177.0 points in April 2022.

On a year-on-year basis, both the import unit value and volume indices rose 12.9 per cent and 21.7 per cent, respectively. - Bernama


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