KUALA LUMPUR, July 26 (Bernama) -- Malaysia's terms of trade, which measures the country's export prices relative to import prices, rose 1.3 per cent month-on-month to 116.3 points in June 2024, driven by higher mineral fuel prices, according to the Department of Statistics Malaysia (DoSM).
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the mineral fuels index rose by 5.4 per cent, followed by animal and vegetable oils and fats (+2.8 per cent) and food (+1.1 per cent).
Year-on-year, Malaysia’s terms of trade improved by 5.4 per cent from 111.4 points in June 2023.
Mohd Uzir said the export unit value index increased by 0.6 per cent in June 2024, rising from 150.3 points the previous month to 151.2 points, driven by a 2.4 per cent rise in the mineral fuels index, along with increases in food (+1.2 per cent) and machinery and transport equipment (+0.2 per cent).
In contrast, the export volume index decreased by 2.1 per cent, reflecting declines in the indices for manufactured goods (-13.8 per cent), animal and vegetable oils and fats (-13.6 per cent), and miscellaneous manufactured articles (-7.7 per cent).
The seasonally adjusted export volume index fell by 13.5 per cent, from 172.2 points to 149.0 points.
“Regarding the annual comparison, the unit value index edged up by 6.6 per cent, while the volume index edged down by 4.6 per cent,” he said in a statement.
Meanwhile, the import unit value index fell by 0.7 per cent in June 2024, due to decreases in the indices for animal and vegetable oils and fats (-6.0 per cent), mineral fuels (-2.8 per cent) and chemicals (-0.5 per cent).
The import volume index also dropped by 4.7 per cent in June 2024 compared to May 2024, attributed to declines in the indices for manufactured goods (-13.0 per cent), chemicals (-6.1 per cent), and machinery and transport equipment (-2.8 per cent).
The seasonally adjusted import volume index decreased by 15.7 per cent, from 220.9 points to 186.2 points.
Year-on-year, the import unit value and volume indices increased by 1.2 per cent and 16.4 per cent, respectively.
-- BERNAMA
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