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THE Statistics Department today reported that Malaysia’s terms of trade expanded by 1% month-on-month to 112 points in May 2022, boosted by rising export prices.
Export prices increased 3.9% to 148.6 points from 143 points in April 2022, while the import unit value index also went up 2.9% to 132.7 points, it said in a statement today.
Chief statistician Mohd Uzir Mahidin said the uptrend in the export unit value index was supported by the increases in mineral fuels (+9.6%), animal, vegetable oil and fats (+6.0%) as well as the machinery and transport equipment (+2.4%) indices.
However, the export volume index fell 9.1% in May 2022 amid a decrease in manufactured goods (-11.8%), miscellaneous manufactured articles (-14.2%) and machinery and transport equipment (-6.8%) indices.
He said the seasonally adjusted export volume index dropped 9.1% from 162.2 points to 152.4 points.
On a year-on-year basis, both export unit value and volume indices continued to grow 22.2% and 6.9%, respectively.
Additionally, the import unit value index grew 2.9% in May 2022 from the previous month, contributed by the increases in animal, vegetable oils and fats (+11.7%), mineral fuels (+11.0%) as well as machinery and transport equipment (+1.9%) indices.
The import volume index also grew 0.7% in May 2022, contributed by the increases in the food (+9.5%), machinery and transport equipment (+6.3%) and miscellaneous manufactured articles (+4.0%) indices.
The seasonally adjusted import volume index also rose by 0.7% to 185.6 points in May 2022 from 177.0 points in April 2022.
On a year-on-year basis, both the import unit value and volume indices rose 12.9% and 21.7%, respectively. – Bernama, July 4, 2022.