However, the import unit value index dropped 0.5% in January 2022 compared with the previous month, said chief statistician Uzir Mahidin in a statement on the nation’s External Trade Indices January 2022 report released today.

“The upward performance of export unit index was supported by the increases in the index of animal & vegetable oils & fats by 3.3%, mineral fuels by 2.1%, and machinery & transport equipment by 1.3%.

“On the other hand, the export volume index fell 11.8% in the same month, reflected by the deterioration in the index of miscellaneous manufactured articles by 15.4%, machinery & transport equipment by 11.4%, and mineral fuels by 7.8%,” he said.

Uzir added that the seasonally adjusted export volume index grew by 0.5% from 154.4 points to 155.1 points.

On annual comparison, he said both export unit value and volume index grew by 15.5% and 7.0%, respectively.

Meanwhile, the marginally lower import unit value index was attributed to the deterioration in the index of mineral fuels by 4.6%, machinery and transport equipment (0.3%), and chemicals (0.2%).

Likewise, the import volume index fell by 0.04% in January 2022 compared with the preceding month.

Uzir attributed this to the deterioration in the index of miscellaneous manufactured articles by 4.2%, machinery and transport equipment (2.8%), and inedible crude materials (0.3%).

“The seasonally adjusted import volume index in January 2022 increased by 1.5% from 166.8 points to 169.3 points.

“On a year-on-year basis, both the import unit value and volume indices expanded 7.1% and 18.1%, respectively,” he said.

The statistics department also reported that Malaysia’s terms of trade increased by 1.9% month-on-month to 109.1 points in January 2022.

On a year-on-year basis, Malaysia’s terms of trade performance showed a positive growth of 7.9% from 101.1 points in January of the previous year.