EXPORT UNIT VALUE INDEX UP 1.6% IN SEPTEMBER 2023 - DOSM

Malaysia's export unit value index in September 2023 rose by 1.6% to 144.6 points from 142.3 points in the previous month, while the import unit value index increased by 1.5% to 130.7 points from 128.8 points in August, said the Department of Statistics Malaysia (DoSM). 

Chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said the higher export unit value index was led by an increase in the mineral fuels index (3.6%), animal and vegetable oils and fats (2.6%) and machinery and transport equipment (1.0%).

“Likewise, the export volume index rose by 6.5% in the same month, in line with an increase in the machinery and transport equipment index (21.3%), animal and vegetable oils and fats (7.0%) and miscellaneous manufactured articles (2.7%),” he said in a statement.

The seasonally adjusted export volume index slipped by 4.1% from 161.1 points to 154.5 points. 

The import unit value index also grew by 1.5% in September 2023, contributed by a rise in the mineral fuels index (5.8%), machinery and transport equipment (1.3%) and chemicals (0.3%).

 The import volume index went down by 1.3% in September 2023 versus the previous month, due to a deterioration in the animal and vegetable oils and fats, and mineral fuels indices.

“Year-on-year comparison showed that the import unit value and volume indices decreased by 1.4% and 11.5%, respectively,” the statement said.

DoSM also said Malaysia's terms of trade expanded by 0.1% month-on-month to 110.6 points in September 2023, driven by a growth in the miscellaneous manufactured articles index (0.8%), chemicals (0.8%) and food (0.2%) against the previous month.

However, on a year-on-year basis, Malaysia's terms of trade shrank by 2.1% in September 2023 versus 113.0 points in September 2022.