Overview

Exports

The export unit value index decreased by 1.0 per cent in February 2023 as compared to the previous month, attributed from the decline in the index of mineral fuels (-3.6%), animal & vegetable oils & fats (-2.7%) and machinery & transport equipment (-0.4%). Besides that, export volume index increased by 0.7 per cent in the same month, in line with the increase in the index of manufactured goods (+16.4%), food (+14.8%) and chemicals (+6.9%). The seasonally adjusted export volume index rose 11.7 per cent from 149.8 points to 167.4 points.

On annual comparison, export unit value index grew 4.4 per cent while volume index increased 5.2 per cent.

Imports

Import unit value index increased 0.6 per cent in February 2023, supported by the increase in the index of machinery & transport equipment (+1.4%), mineral fuels (+1.1%) and miscellaneous manufactured articles (+0.3%). The import volume index decreased 2.5 per cent in February 2023 as compared to the previous month, attributed from the decline in the index of miscellaneous manufactured articles (-16.2%), manufactured goods (-11.4%) and machinery & transport equipment (-9.7%). The seasonally adjusted import volume index grew by 10.9 per cent from 165.6 points to 183.6 points.

On a year-on-year basis, import unit value index rose 4.6 per cent while volume index expanded 7.7 per cent.

Terms of trade

Malaysia’s terms of trade remained a negative growth of 1.6 per cent month-on-month to 109.7 points in February 2023, in accordance with the decrease in the index of mineral fuels (-4.6%), animal & vegetable oils & fats (-4.0%) and machinery & transport equipment (-1.8%). Malaysia’s terms of trade decreased by 0.2 per cent year-on-year from 109.9 points in February of previous year.

*Notes:

The February 2023 data is provisional and subject to revision in later issues.

Released by:

DEPARTMENT OF STATISTICS MALAYSIA
28 March 2023

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