Malaysia's Export Prices Decrease 0.6% In July 2024 -- DoSM

Malaysia's export prices in July 2024 decreased by 0.6% to 150.2 points from 151.2 points in the previous month, while import prices increased by 0.3% to 130.4 points, according to the Department of Statistics Malaysia (DOSM).

In its External Trade Indices July 2024 report released, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the decrease was led by declines in the index of mineral fuels, animal and vegetable oils, fats and miscellaneous manufactured articles.

"The export volume index grew by 4.7%, in line with the increase in the index of animal and vegetable oils and fats, chemicals and miscellaneous manufactured articles,” it said.

DOSM said that the increase in the import unit value index was due to an increase in the index of mineral fuels and food.

"The import volume index edged up by 11.3% in July 2024 as compared to June 2024, due to the increase in the index of food, machinery and transport equipment, as well as manufactured goods,” it added.

Meanwhile, Malaysia's terms of trade slipped by 0.9% month-on-month to 115.2 points in July 2024, driven by decreases in the index of mineral fuels, animal and vegetable oils and fats, as well as miscellaneous manufactured articles.