PETALING JAYA: The Malaysian manufacturing sector’s sales value returned to positive year-on-year growth of 3.2%, reaching RM152.7 billion in January 2024, according to the Department of Statistics, Malaysia (DoSM).
Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said, “The sales value of the manufacturing sector rebounded to 3.2% year-on-year in January 2024 after contracting since June 2023, achieving RM152.7 billion (December 2023: -4.2%). The expansion was bolstered by the strong growth of 15.8% in the transport equipment & other manufactures sub-sector (December 2023: 6.4%), coupled with the upward trend of the food, beverages & tobacco products sub-sector which surged by 11.4% (December 2023: -2.6%).”
In addition, he added the non-metallic mineral products, basic metal & fabricated metal products sub-sector continued to grow vigorously, expanding by 9.6% (December 2023: 7.4%). As compared to the previous month, the sales value grew by 1.9% as against RM149.9 billion recorded in December 2023 (-3.3%).
The sales value of export-oriented industries which represented 69.1% of total sales, increased slightly by 0.1% in January 2024 (December 2023: -8.4%).
The upward momentum was predominantly fortified by the rise in the manufacture of vegetable & animal oils and fats at 12.7%; manufacture of chemicals and chemical products (5.3%); and the manufacture of computer, electronics & optical products (2.7%). On a month-on-month basis, the sales value of export-oriented industries ascended by 1.7% as against a decline of 3.9% registered in December 2023.
In the meantime, the sales value of domestic-oriented industries improved further by 10.8% after registering a growth of 7.7% in December 2023. The improvement was primarily fueled by the robust growth of 19.8% in the manufacture of motor vehicles, trailers & semi-trailers; the manufacture of fabricated metal products, except machinery & equipment which grew by 12.3%; and the expansion of the manufacture of food processing products by 10.3%. As compared to the previous month, the sales value of domestic-oriented industries grew by 2.3%, contrasting with a decrease of 1.9% in December 2023.
