MALAYSIA'S TERMS OF TRADE REMAINS ABOVE 100 POINTS, RISING 2.9% TO 114.7 POINTS IN NOVEMBER: DOSM

Malaysia's export prices in November 2023 rose by 2.0% from 146.4 points in the previous month to 149.3 points. However, import price decreased by 0.8% from 131.3 points to 130.2 points.

Meanwhile, Malaysia's term of trade grew 2.9% month-on-month to 114.7 points in November 2023 as reportedby The Department of Statistics on 28th December which released its External Trade Indices (2010=100), November 2023 publication which presents the unit value index, volume index and terms of trade for 10 commodity sections of merchandise products in accordance with the Standard International Trade Classification (SITC).

Chief Statistician Malaysia, Dato' Sri Dr. Mohd Uzir Mahidin said, “The export unit value index rose by 2.0% in November 2023 as compared to the previous month, led by the increase in the index of mineral fuels (+11.0%), inedible crude materials (+1.1%) and food (+0.5%). At the same time, the export volume index went down by 5.1% in line with the decrease in the index of machinery & transport equipment (-7.4%), mineral fuels (-5.1%) and miscellaneous manufactured articles (-5.0%).

The seasonally adjusted export volume index increased marginally by 0.05% to remain at 155.8 points.

Referring to the annual comparison, the unit value index grew 0.4% and volume index decreased by 6.2%.

The import unit value index declined by 0.8% in November 2023, contributed by the decrease in the index of mineral fuels (-2.9%), machinery & transport equipment (-0.9%) and chemicals (-0.2%). Meanwhile, the import volume index also dropped by 2.3% in November 2023 as compared to the previous month, attributed to the contraction in the index of mineral fuels (-15.2%), inedible crude materials (-7.2%) and food (-3.2%).

The seasonally adjusted import volume index edged down by 3.8% from 197.0 points to 189.4 points. Year-on-year comparison showed that the import unit value index decreased by 2.2% while volume index increased by 4.2%.”

In addition, Malaysia's terms of trade expanded by 2.9% month-on-month to 114.7 points in November 2023, driven by the increase in the index of mineral fuels (+14.3%), animal & vegetable oils & fats (+1.7%) and inedible crude materials (+1.2%).

Likewise, Malaysia's terms of trade grew by 2.7% year-on-year from 111.6 points in November of the previous year.