PETALING JAYA: Malaysia’s manufacturing sector sales amounted to RM161.9 billion in November 2024, expanding by 4.5% year-on-year (y-o-y).
According to Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin, “The expansion in the manufacturing sector for November 2024 was driven by a double-digit increase of 12.3% in the food, beverages & tobacco sub-sector (October 2024: 11.2%); and enhanced by a 7.1% rise in the electrical & electronics products subsector (October 2024: 3.2%). On a month-on-month basis, the sales value increased by 0.3% from RM161.4 billion registered in October 2024.”
The sales value of export-oriented industries, which accounted for 71.5% of total manufacturing sales, rose by 5.6%, up from the 3% in October 2024. The steady growth was largely attributed to the strong performance in the manufacture of vegetable & animal oils & fats (15%); manufacture of rubber products (10.5%); as well as manufacture of computer, electronics and optical products industries (7.6%).
In a month-on-month comparison, export-oriented industries dropped by 1.2% in November 2024.
Meanwhile, domestic-oriented industries increased by 1.8% (October 2024: 3%).
Manufacture of processed food industry recorded a 8.7% increase compared to 8.1% in the preceding month. However, manufacture of fabricated metal products, except machinery & equipment, registered moderate growth of 4.1% compared to 6.1% in October 2024. In comparison to the previous month, the sales value of domestic-oriented industries continued to expand, recording a 4.1% rise in November 2024.
Mohd Uzir said, “There were 2.4 million employees involved in the manufacturing sector in November 2024, marking a 1% increase compared to a 0.9% growth in October 2024. The increase was observed largely in the food, beverages & tobacco (2.1%); non-metallic mineral products, basic metal & fabricated metal products (1.3%); and wood, furniture, paper products & printing (1%) sub-sectors.”
In comparison to the preceding month, the number of employees in this sector augmented slightly by 0.1% in November 2024 (October 2024: 0.4%).
“In November 2024, salaries & wages in the manufacturing sector rose to RM8.3 billion (October 2024: RM8.28 billion). Compared to the previous month, salaries & wages increased by 0.2%. For the same period, the average monthly salaries & wages per employee rose by 0.8% year-on-year to RM3,455. Simultaneously, the sales value per employee rose by 3.4:, registered RM67,414,” said Mohd Uzir.
Throughout the first 11 months of last year (January-November 2024), the sales value of the manufacturing sector amounted to RM1.728 trillion, an increase of 4.5% compared to the same period in 2023.