DOSM: Export and import unit value indices remain positive in February

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the export unit value index remained positive for the sixth consecutive month, while the import unit value index showed a similar trend which started in December 2020.

This was contained in the DoSM External Trade Indices (2010=100), February 2021, which presents the unit value and volume index by sections for both exports and imports of goods.

"The export unit value index posted a positive growth at 1.2 per cent in February 2021, reflected a growth in the index of animal and vegetable oils and fats (4.8 per cent), mineral fuels (3.6 per cent) as well as machinery and transport equipment (0.4 per cent)," he said

Nevertheless, he said the export volume index declined 3.5 per cent compared with the previous month, attributed to the weak performance of the index of beverages and tobacco (-20.2 per cent), machinery and transport equipment (-13.6 per cent) and manufactured goods (-3.8 per cent).

Mohd Uzir also noted that the seasonally adjusted export volume index registered an expansion of 14.0 per cent from 142.8 points to 162.7 points.

"When compared to the previous year, the export unit value index dropped 0.6 per cent, while the export volume index registered a double digit growth at 18.3 per cent," he said.

On the 0.8 per cent growth for import unit value index in February 2021, he said it was contributed from better performance of the index of mineral fuels (6.3 per cent), manufactured goods (0.6 per cent) and machinery and transport equipment (0.3 per cent).

"On the other hand, the import volume index contracted by 5.3 per cent which was attributed from the weak performance of the index of machinery and transport equipment (-7.6 per cent), manufactured goods (-7.3 per cent) and miscellaneous manufactured articles (-6.3 per cent).

"The seasonally adjusted import volume index in February 2021 grew 9.8 per cent from 143.1 points to 157.2 points," he said.

On a year-on-year basis, Mohd Uzir said the import unit value index declined 1.9 per cent while the import volume index expanded 14.9 per cent.

DoSM also reported that Malaysia's terms of trade grew 0.4 per cent m-o-m from 101.1 points to 101.5 points in February 2021.

On a year-on-year basis, Malaysia's terms of trade also remained positive at 1.4 per cent from 100.2 points in February 2020.