All the three indices of manufacturing, mining, and electricity in Malaysia posted increases in August 2016, pushing the country’s industrial production index (IPI) up 4.9% as compared to the same month of the previous year, according to the Department of Statistics Malaysia.
Manufacturing output expanded further by 4.6% in August 2016 after an increase of 3.3% recorded in July 2016. The major subsectors to record growth in August 2016 were electrical and electronic products (7.9%); petroleum, chemical, rubber, and plastic products (4.5%), and non-metallic mineral products, basic metal and fabricated metal products (4.6%).
The mining sector’s output inched up 4.3% in August 2016 after a 6.1% increase in July 2016. The expansion was supported by the increase in crude oil index (6.5%) and natural gas index (1.5%).
The electricity sector’s production expanded significantly by 11.4% in August 2016 following an increase of 7.1% posted in July 2016.
Meanwhile, the sales value of the manufacturing sector in August 2016 amounted to MYR55.9 billion (US$13.3 billion), a decrease of 0.6% or MYR300 million as compared to MYR56.2 billion reported a year ago.
On the other hand, the export unit value index increased 0.3% to 103.6 points on a-month-on-month basis in August 2016. This was mainly attributed to mineral fuels (+2.6%), chemicals (+0.9%), and machinery & transport equipment (+0.3%).
Similarly, the export volume index expanded 12.6% to 122.6 points. This was led by inedible crude materials (+28.1%), animal & vegetable oils & fats (+26.0%), and machinery & transport equipment (+18.3%). In seasonally adjusted terms, the export volume index increased 8.0%.
When compared to the previous year, the export unit value index registered a decrease of 2.3%. In contrast, the export volume index rose 3.9%.
In August 2016, Malaysia’s terms of trade logged an increase of 0.2% to 95.4 points when compared with the preceding month, while a reduction of 3.3% was recorded year-on-year.
Photo by CEphoto, Uwe Aranas
