Malaysia’s real GDP to grow 5.1% in 2022, Statistics Dept says

The Statistics Department says Malaysia’s GDP is anticipated to grow by 5.1% year-on-year in 2022. – The Malaysian Insight file pic, September 30, 2022.

MALAYSIA’S GDP is anticipated to grow by 5.1% year-on-year in 2022, the Statistics Department said.

In its latest Malaysian Economic Statistics Review, the department said July’s leading index (LI) showed optimistic economic performance in the coming months.

“The LI sustained its positive annual growth at 4.1% in July, albeit lower than the 5.3% recorded in June,” it said.

As for the external sector, the department said August exports surged 48.2% to RM141.3 billion, while imports soared 67.6% to RM124.4 billion. 

The number of employed persons grew 4.5% to 15.98 million in July, while the unemployment rate stood at 3.7%.

The July Industrial Production Index was up 12.5% year-on-year, with sales volume from the manufacturing sector at RM148.4 billion, a 23.8% jump versus a year ago.

Wholesale and retail trade sector sales saw a strong 41% rise year-on-year to RM130.7 billion in July.

Meanwhile, in commodities, the production of fresh fruit bunches increased 3.8% to 8.87 million tonnes in August, while natural rubber production declined by 21.8% to 38,006 tonnes in July.

The consumer and producer price indices for August saw a rise of 4.7% and 6.8%, respectively, against the same month a year ago. – Bernama, September 30, 2022.

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