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 Business

Export, import unit value indices slip 0.02 pct, 0.7 pct in June 2020 – DoSM

5th August, 2020

KUALA LUMPUR: Malaysia’s export and import unit value indices had slightly contracted by 0.02 per cent to 109.9 points and 0.7 per cent to 112.4 points month-on-month (m-o-m) respectively in June 2020, said the Department of Statistics Malaysia (DoSM).

Chief statistician Malaysia, Datuk Seri Dr Mohd Uzir Mahidin said the marginal reduction in the export unit value index was led by the decreases in the animal and vegetable oils and fats (-5.8 per cent), manufactured goods (-0.4 per cent) and mineral fuels (-0.1 per cent) indices.

Conversely, he said the exports volume index expanded 32.3 per cent to 141.7 points, mainly due to the increases in the machinery and transport equipment (+39.9 per cent), miscellaneous manufactured articles (+38.1 per cent) and manufactured goods (+27.9 per cent) indices.

“In seasonally adjusted terms, the export volume index rose by 42.2 per cent to 151.2 points,” Mohd Uzir said, adding that year-on-year (y-o-y), the export volume index expanded 14.1 per cent in June 2020, while export unit value index declined 4.6 per cent.

He said this in a statement on DoSM’s External Trade Indices (2010=100) June 2020 report released on Tuesday.

Meanwhile, Mohd Uzir attributed the marginal decline in the import unit value index for the month to the decreases in the index of mineral fuels (-3.8 per cent), chemicals (-0.5 per cent), as well as machinery and transport equipment (-0.3 per cent).

“However, import volume index registered an increase of 19.4 per cent to 125.3 points, mainly attributable to the increases in the index of mineral fuels (+44.2 per cent), manufactured goods (+26.6 per cent), as well as machinery and transport equipment (+12.4 per cent),” he said.

In seasonally adjusted terms, the import volume index in June 2020, increased 30.0 per cent to 131.6 points, while on a y-o-y basis, both the import unit value and volume indices decreased 4.8 per cent and 1.2 per cent, respectively.

On the same note, the DoSM also reported that Malaysia’s terms of trade (TOT) in June 2020, ticked up 0.6 per cent to 97.8 points compared with May 2020, while on a y-o-y basis, the TOT for the month registered a marginal growth of 0.2 per cent from 97.6 points last year.

The TOT measures a country’s export prices in relation to its import prices. –Bernama

   
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