KUALA LUMPUR: Malaysia’s export prices grew 1.7 per cent to 149.8 points in March from 147.3 points in February, while import prices saw a marginal uptrend of 0.1 per cent from 129.9 points to 130.0 points, said the Department of Statistics Malaysia (DOSM).
It said Malaysia’s terms of trade rose by 1.6 per cent month-on-month (m-o-m) to 115.2 points due to increases in the index of mineral fuels (3.1 per cent), animal and vegetable oils and fats (2.8 per cent), and machinery and transport equipment (1.2 per cent).
In a statement today, chief statistician Datuk Seri Dr Mohd Uzir Mahidin (pix) said the increase in export unit value index in March was led by the increase in the index of mineral fuels (4.7 per cent), animal and vegetable oils and fats (3.5 per cent), and machinery and transport equipment (0.6 per cent) in March 2024.
“Likewise, the export volume index rose by 13.6 per cent, in line with the increase in the index of inedible crude materials (31.3 per cent), machinery and transport equipment (24.6 per cent) and miscellaneous manufactured articles (19 per cent).
“The seasonally adjusted export volume index fell by 2.5 per cent from 156.8 points to 152.9 points.
“On annual comparison, the unit value index increased by 5.1 per cent while the volume index decreased by 5.6 per cent,” he said.
As for imports unit value, Mohd Uzir said the index experienced a marginal 0.1 per cent rise in March 2024, attributed to increases in the index of mineral fuels (1.6 per cent), animal & vegetable oils and fats (0.7 per cent), and manufactured goods (0.1 per cent).
“Similarly, the import volume index also increased by 15.6 per cent in March 2024 as compared to February 2024, attributed from the increment in the index of food (23.9), machinery and transport equipment (20.5) and mineral fuels (17.3),” he added.
In a separate statement, Mohd Uzir also noted that Malaysia’s total trade for March 2024 amounted to RM244.5 billion, with exports and imports recorded at RM128.6 billion and RM115.8 billion, respectively.
He said exports of RM128.6 billion was a decrease of RM1 billion as compared to the same month of the previous year, amid lower exports in most states such as Selangor (-RM2.1 billion), Labuan (-RM1.6 billion), Melaka (-RM686.2 million), Sabah (-RM443.8 million), Sarawak (-RM260.9 million), Pulau Pinang (-RM129.8 million), Negeri Sembilan (-RM118.5 million), Johor (-RM44.6 million) and Perlis (-RM27 million).
However, exports increased in Perak by RM1.5 billion, Kuala Lumpur (+RM1.3 billion), Terengganu (+RM929.9 million), Pahang (+RM522 million), Kedah (+RM151.7 million) and Kelantan (+RM36.2 million), he said.
Mohd Uzir said Pulau Pinang remained the top exporter with a 32 per cent share, followed by Johor (20 per cent), Selangor (16.9 per cent), Sarawak (8.1 per cent), and Kuala Lumpur (4.5 per cent).
Meanwhile, the increase in imports was attributed to the higher imports in most states, such as Johor (RM8.2 billion), Melaka (RM1.6 billion), Negeri Sembilan (RM1.2 billion), Kuala Lumpur (RM1 billion), Selangor (RM996.7 million), Kedah (RM419.7 million), Pahang (RM152.6 million), Terengganu (RM92.1 million), Kelantan (RM71 million), Sabah (RM55.5 million) and Labuan (RM30.3 million).
Johor dominates Malaysia’s imports with a share of 27.9 per cent, followed by Selangor (23.6 per cent), Pulau Pinang (19.2 per cent), Kuala Lumpur (7.5 per cent), and Kedah (5.0 per cent).
