KUALA LUMPUR (July 4): Malaysia's import volume grew 0.7% in May 2022 from a month earlier, led by the country's food purchases from other countries, according to the Department of Statistics Malaysia (DOSM) on Monday (July 4).

In a statement, the DOSM said prices of Malaysia's imports, as measured by the import unit value index, grew 2.9% in May 2022 from a month earlier.

"On a year-on-year basis, the import unit value and volume indices rose 12.9% and 21.7% respectively," the DOSM added.

Malaysia's import volume grew 0.7% in May 2022 from a month earlier, compared to a 3.3% on-month drop in April 2022, according to the DOSM.

The DOSM said the nation's import volume index grew 0.7% in May 2022, compared to the previous month, "contributed by increases in the indices of foods (+9.5%), machinery and transport equipment (+6.3%), and miscellaneous manufactured articles (+4%)".

Malaysia's export prices rose in May 2022 from a month earlier, while the export volume fell, according to the DOSM.

DOSM chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in the statement: “The export unit value index grew 3.9% in May 2022 as compared to the previous month, supported by increases in the indices of mineral fuels (+9.6%), animal and vegetable oil and fats (+6%), and machinery and transport equipment (+2.4%).

"However, the export volume index fell 9.1% in the same month, contributed by decreases in the indices of manufactured goods (-11.8%), miscellaneous manufactured articles (-14.2%), and machinery and transport equipment (-6.8%),"  Mohd Uzir added.

Compared to a year earlier, Malaysia's May 2022 export unit value and volume indices grew 22.2% and 6.9% respectively, according to him.