KUALA LUMPUR: Malaysia’s total trade for March 2023 amounted to RM232.7 billion, 1.6 per cent lower year-on-year, said the Department of Statistics (DOSM) today.
Exports eased 1.4 per cent year-on-year to RM129.7 billion while imports fell 1.8 per cent year-on-year to RM103 billion, DOSM said in a statement.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the export performance by states showed that the decrease in exports was due to the lower exports in most states, namely Kuala Lumpur (-RM775.6 million), Kedah (-RM730.3 million), Sabah (-RM651.7 million), Pahang (-RM637.9 million), Terengganu (-RM405.1 million), Perak (-RM366.0 million), Johor (-RM242.9 million) and Kelantan (-RM71.0 million).
However, exports increased in Sarawak by RM740.6 million, Negeri Sembilan (RM369.3 million), Labuan (RM293.6 million), Penang (RM279.6 million), Melaka (RM165.7 million), Selangor (RM37.8 million) and Perlis (RM6.2 million), he added.
Looking at the performance of imports by state, Mohd Uzir said imports also decreased by 1.8 per cent year-on-year to RM1.90 billion in March 2023 compared to the same month of the previous year.
The decrease in imports was due to the lower imports in most states such as Melaka (-RM4.1 billion), Negeri Sembilan (-RM877.6 million), Pulau Pinang (-RM701.5 million), Kedah (-RM559.7 million), Pahang (-RM450.3 million), Selangor (-RM72.1 million), Labuan (-RM18.9 million) and Sabah (-RM16.7 million).
However, imports increased in Johor by RM3.8 billion, Kuala Lumpur (RM619.8 million), Sarawak (RM262.4 million), Terengganu (RM192.0 million), Perlis (RM52 million), Kelantan (RM26.7 million) and Perak (RM1.1 million), Mohd Uzir said.
Penang, Johor and Selangor remained the main exporters, contributing 70.2 per cent of the country’s total exports in March.
Among the top five major exporting states, Penang remained the top exporter with a share of 31.9 per cent, followed by Johor (19.9 per cent), Selangor (18.4 per cent), Sarawak (8.2 percent) and Kuala Lumpur (3.5 per cent), said Mohd Uzir.
As for imports, Selangor was the largest contributor with a share of 25.6 per cent, followed by Johor (23.4 per cent), Pulau Pinang (22.2 percent), Kuala Lumpur (7.5 per cent) and Kedah (5.2 per cent).
Terms of trade up 0.6 pct
Meanwhile, the country’s terms of trade increased 0.6 per cent month-on-month to 110.3 points in March 2023 (2010 = 100 points), said the Department of Statistics (DoSM).
Mohd Uzir said the increase resulted from a rise in the index of machinery and transport equipment (1.0 per cent), chemicals (0.8 per cent) and food (0.6 per cent).
However, he added that the terms of trade decreased by 1.9 per cent year-on-year from 112.4 points in March 2022.
The chief statistician said the country’s export unit value index increased 1.0 per cent to 142.6 points in March 2023 from 141.4 points in the preceding month.
He said this was attributed to the increase in the index of animal and vegetable oils and fats (3.2 per cent), machinery and transport equipment (1.5 per cent) and miscellaneous manufactured articles (0.8 per cent).
“The export volume index rose by 14.4 per cent in the same month, in line with the expansion in the index of animal and vegetable oils and fats (31.7 per cent), miscellaneous manufactured articles (23.8 per cent), and machinery and transport equipment (14.3 per cent).
“The seasonally adjusted export volume index decreased by 1.4 per cent from 167.4 points to 165.2 points.
“On an annual comparison, the export unit value index remained positive at 0.7 per cent while the volume index decreased by 2.1 per cent,” he said.
Mohd Uzir said the import unit value index continued to grow in March 2023 by 0.4 per cent from 128.7 points to 129.2 points, supported by the increase in the index of animal and vegetable oils and fats (3.0 per cent), food (0.5 per cent) and machinery and transport equipment (0.49 per cent).
He noted that the import volume index showed a positive trend of 10.7 per cent in March 2023 as compared to the previous month, attributed to the increase in the index of miscellaneous manufactured articles (27.5 per cent), manufactured goods (25.9 per cent) and machinery and transport equipment (16.5 per cent).
“The seasonally adjusted import volume index decreased by 4.3 per cent from 183.6 points to 175.7 points.
“On a year-on-year basis, the import unit value index remained positive at 2.6 per cent while the volume index declined by 4.2 per cent,” he said. – BERNAMA
