economy

Malaysia's manufacturing sales expand 7.7pct to RM163.9bil in August

KUALA LUMPUR: The manufacturing sector recorded a sales value of RM163.9 billion in August, marking a 7.7 per cent year-on-year (YoY) growth, compared to a 3.3 per cent decline a year ago, according to the Department of Statistics Malaysia (DOSM).  

However, the sector's sales value declined compared to the 9.1 per cent increase recorded in the previous month.

Chief statistician Datuk Seri Mohd Uzir Mahidin said the increase primarily to the double-digit growth in the food, beverages, and tobacco sub-sector at 16.1 per cent (July 2024: 16 per cent) and in electrical and electronics products at 10.4 per cent (July 2024: 8.2 per cent).

"On a month-to-month basis, the sales value grew by 4.4 per cent, following a 0.6 per cent rise in July 2024 when sales value amounted to RM157.1 billion," he said in a statement today.

Mohd Uzir said export-oriented industries, which accounted for 72.7 per cent of the total sales value, grew by 7.8 per cent in August 2024, a modest rise from 9.4 per cent recorded in the previous month.

The performance was mainly influenced by the increases in the manufacture of computer, electronics, and optical products (12.0 per cent), vegetable and animal oils and fats (23.3 per cent), and rubber products (11.6 per cent).

For a month-on-month comparison, the sales value of the export-oriented industries recovered to five per cent from a marginal decline of 0.5 per cent in July 2024.

Mohd Uzir said domestic-oriented industries expanded by 7.6 per cent in August (July 2024: 8.4 per cent).

This was mainly due to growth in the manufacture of motor vehicles, trailers, and semi-trailers (10.4 per cent), food processing products (7.5 per cent), and fabricated metal products, except machinery and equipment (9.7 per cent).

For comparison monthly, the sales value of domestic-oriented industries remained on the rise by recording a growth of 2.7 per cent (July 2024: 3.7 per cent).

He said the total number of employees in the manufacturing sector increased by one per cent to 2.38 million (July 2024: 1.3 per cent), compared to a year ago.

"The growth was predominantly attributed to food, beverages and tobacco sub-sector (3.9 per cent); wood, furniture, paper products and printing (1.1 per cent); and textiles, wearing apparel, leather and footwear (1.5 per cent)," he added.

In comparison with the preceding month, the number of employees in this sector improved by 0.4 per cent (July 2024: -0.01 per cent).

Mohd Uzir said the salaries and wages paid in the manufacturing sector rose by 1.5 per cent, reaching a total of RM8.12 billion.

"This led to an average monthly salary and wage increase of 0.6 per cent per employee amounting to RM3,417 in August 2024 (July 2024: 1.2 per cent; RM3,429).

"The sales value per employee rose by 6.7 per cent to record RM66,950 (July 2024: 7.8 per cent; RM66,285)," he noted.

For the first eight months of this year, the manufacturing sector's cumulative sales value reached RM1,242.6 billion, up 4.9 per cent from a year ago.

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