KUALA LUMPUR, Jan 27 (NNN-Bernama) — Malaysia’s total trade for December 2022 amounted to RM236.0 billion (US$55.7 billion), an increase of 8.6 per cent year-on-year (y-o-y), with exports rising 6.0 per cent y-o-y to RM131.9 billion (US$31.1 billion) while imports rose 12.0 per cent y-o-y to RM104.1 billion (US$24.6 billion), said the Department of Statistics Malaysia (DoSM) Friday.
Chief Statistician Dr Mohd Uzir Mahidin said Malaysia’s total trade in 2022 recorded a new milestone to reach RM2.8 trillion (US$661.1 billion).
Meanwhile, Malaysia’s export and import unit value indices showed a decline of 2.8 per cent in December 2022, with exports falling from 148.7 points in November to 144.5 points, while imports fell from 133.2 points to 129.5 points.
DOSM, in its December External Trade Indices (2010=100), attributed the decline in the export unit value index to declines in the index of mineral fuels by 8.6 per cent, machinery and transport equipment (-1.3 per cent) and miscellaneous manufactured articles (-1.1 per cent).
Mohd Uzir said the export volume index rose by 4.6 per cent in December 2022, in line with the increases in the index of animal, vegetable oils and fats (-33.5 per cent), manufactured goods (6.5 per cent) and machinery and transport equipment (2.3 per cent).
“The seasonally adjusted export volume index dropped 2.9 per cent from 166.1 points to 161.3 points. On an annual comparison, export unit value indices expanded 10.5 per cent while volume index contracted 4.0 per cent,” he said.
Mohd Uzir said the import unit value index also decreased 2.8 per cent in December 2022, due to the declines in the index of animal, vegetable oils and fats (-10.0 per cent), mineral fuels (-6.9 per cent) and machinery and transport equipment (-2.9 per cent).
“The import volume index also decreased 0.7 per cent in December 2022 compared to November 2022, due to the declines in the index of inedible crude materials (-15.2 per cent), machinery and transport equipment (-4.6 per cent) and foods (-2.6 per cent). The seasonally adjusted import volume index decreased by 1.9 per cent from 179.7 points to 176.2 points.
“On a year-on-year basis, however, both the import unit value and volume indices expanded 6.0 per cent and 5.8 per cent, respectively,” he said.
The department said Malaysia’s terms of trade returned to positive with a marginal rise of 0.02 per cent month-on-month to 111.6 points, due to increases in the index of animal, vegetable oils and fats (+9.0 per cent), machinery and transport equipment (+1.6 per cent) and inedible crude materials (+0.6 per cent).
“On a year-on-year basis, the country’s terms of trade showed a positive 4.2 per cent growth from 107.1 points in December 2021,” he said.