Malaysia’s total trade recorded an upward trend, growing 5.5% in December 2021 as compared to the previous month, said the Department of Statistics Malaysia (DOSM).
In a statement on Friday (Feb 4), it said export value rose by 10.4% to RM123.8 billion against November 2021, reflected by an increment in exports of machinery and transport equipment (+22.4%), animal and vegetable oils and fats (+13.2%) and miscellaneous manufactured articles (+7.8%).
"On the other hand, imports declined by 0.4% month-on-month (m-o-m) in December 2021 to RM92.9 billion, reflected by deterioration in imports of mineral fuels (-25.9%), animal and vegetable oils and fats (-20.7%), and inedible crude materials (-2.4%), while trade value soared by 63.6% m-o-m to RM31 billion," it noted.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the export unit value index grew 0.2% in December 2021 as compared to the preceding month, contributed by increases in the indices of animal and vegetable oils and fats (+3.4%), machinery and transport equipment (+0.8%), and chemicals (+0.8%).
"Likewise, the export volume index grew 10.1% in the same month due to increases in the indices of machinery and transport equipment (+21.5%), chemicals (+9.3%) and miscellaneous manufactured articles (+7.7%).
"The seasonally adjusted export volume index rose 6% from 162.2 points to 172 points. On an annual comparison, both the export unit value and volume indices grew at 5.8% and 11.6% respectively," he said.
Mohd Uzir added that the import unit value index also grew 0.2% in December as compared to November 2021, attributed to increases in the indices of animal and vegetable oils and fats (+7%), machinery and transport equipment (+0.5%), and manufactured goods (+0.5%).
On the other hand, he said the import volume index dropped by 0.6% in December 2021 as compared to the preceding month, attributed by deterioration in the indices of animal and vegetable oils and fats (-25.9%), mineral fuels (-23.9%) and inedible crude materials (-2.2%).
"The seasonally adjusted import volume index in December 2021 decreased by 1% to 166.8 points from 168.7 points. On a year-on-year basis, both the import unit value and volume indices expanded at 8.4% and 14.1% respectively,” he added.
The DOSM also reported that Malaysia’s terms of trade increased by 0.04% m-o-m to 107.1 points in December 2021. Malaysia’s terms of trade performance sustained its positive growth at 6.9% from 100.2 points in December of the previous year.
Read more here: https://www.theedgemarkets.com/article/malaysias-total-trade-grew-55-december-%E2%80%94-dosm
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