DOSM: Malaysian export prices drop slightly in October

DOSM: Malaysian export prices drop slightly in October
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KUALA LUMPUR (Nov 28): Malaysia’s export prices in October 2022 dropped slightly by 0.05% from 149.8 points in the preceding month to 149.7 points, while the “import unit value index” showed a positive performance of 0.6% to 133.2 points. 

Accordingly, Malaysia’s terms of trade showed a negative performance of 0.6% month-on-month to 112.4 points in October 2022, according to the Department of Statistics Malaysia (DOSM).

Malaysia’s chief statistician Datuk Seri Mohd Uzir Mahidin said the “export unit value index” dipped 0.05% in October 2022, compared with the previous month due to declines in the indices of animal and vegetable oils and fats (5.3%), mineral fuels (3.4%) and miscellaneous manufactured articles (0.4%).

"At the same time, the export volume index also dropped 8.7% in the same month, contributed by the declines in the indices of miscellaneous manufactured articles (17.8%), animal and vegetable oils and fats (15.9%), as well as machinery and transport equipment (14.9%). 

“The seasonally adjusted export volume index dropped 14.5%, from 179.4 points to 153.4 points,” he said in a statement on Monday (Nov 28).

The import unit value index increased by 0.6% in October 2022 from a month before, contributed by the rises in the indices of machinery and transport equipment (2.5%), miscellaneous manufactured articles (0.5%), and food (0.2%). 

Mohd Uzir said the import volume index also increased by 0.4% in October compared to the previous month, contributed by the increases in the indices of mineral fuels (18.0%), food (4.8%), and machinery and transport equipment (0.6%). 

However, the seasonally-adjusted import volume index decreased by 3.0% from 195.5 points to 189.7 points.

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