Overview

The Manufacturing sector sales value remained on a steady growth with an increase of 5.9 per cent, totalling RM156.1 billion in June 2024

The growth momentum in the Manufacturing sector’s sales value has remained positive since January, increasing by 5.9 per cent (May 2024: 5.5%) to a total RM156.1 billion in June 2024. The rise was primarily driven by the Electrical & electronics products sub-sector, which grew by 7.1 per cent after registering a 12.2 per cent growth in May 2024. The growth was also supported by the Food, beverages & tobacco sub-sector, with an increase of 8.6 per cent, and the Non-metallic mineral products, basic metal & fabricated metal products, which rose by 11.1 per cent. On a month-on-month basis, the sales value grew by 0.8 per cent from RM154.9 billion in May 2024.

Sales value for the export-oriented industries, which accounted for 73.1 per cent, continued to expand at a faster pace of 6.0 per cent in June 2024 (May 2024: 4.6%). The Manufacture of computer, electronics & optical products (8.8%); and the Manufacture of vegetable & animal oils & fats (10.9%) were the key contributors to the growth of export-oriented industries during the month. Meanwhile, the sales value for the Manufacture of coke & refined petroleum products turned around to positive growth of 1.6 per cent from negative 17.6 per cent in May 2024. For a month-on-month comparison, the sales value of the export-oriented industries grew by 3.9 per cent (May 2024: 2.5%).

The sales value of the domestic-oriented industries grew modestly by 5.5 per cent (May 2024: 7.9%) influenced by a decline of 5.2 per cent in the sales value of Manufacture of motor vehicles, trailers & semi-trailers industry. On the other hand, the Manufacture of fabricated metal products, except machinery & equipment (13.5%) supported the growth, followed by the Manufacture of food processing products (5.2%) and the Manufacture of basic metals (12.3%). As compared to the previous month, the sales value of domestic-oriented industries remained on a declining trend for three consecutive months, registering a negative 6.7 per cent in June 2024 (May 2024: -2.2%).

There were 2.37 million employees in the Manufacturing sector in June 2024, marking a 1.0 per cent increase compared to a 0.9 per cent growth in May 2024. The increase was observed largely in the Food, beverages & tobacco (4.0%); and the Non-metallic mineral products, basic metal & fabricated metal products (2.3%). On the contrary, the number of persons engaged in the Manufacture of computer, electronics & optical products decreased by 0.9 per cent (May 2024: -1.1%). In comparison with the preceding month, the number of employees in this sector declined marginally by 0.3 per cent (May 2024: 0.2%).

The salaries & wages in the Manufacturing sector rose by 1.8 per cent, reaching a total of RM8.20 billion. Compared to the previous month, the salaries & wages increased slightly by 0.1 per cent, following a 1.0 per cent growth observed in May 2024. This resulted in the increase of average monthly salaries & wages per employee by 0.8 per cent to RM3,459. Simultaneously, the sales value per employee rose by 4.8 per cent to record RM65,874.

For the second quarter of 2024, the sales of the Manufacturing sector reached RM464.2 billion, reflecting a growth of 5.7 per cent (Q1 2024: 1.8%). The increase was primarily attributable to the Electrical & electronics products (7.3%); and the Food, beverages & tobacco sub-sector (8.2%) sub-sectors. Furthermore, the number of employees and salaries & wages paid during the quarter went up by 1.0 per cent (Q1 2024: 0.5%) and 1.4 per cent (Q1 2024: 1.2%) respectively.

Throughout the first six months this year (January – Jun 2024), the sales value of the Manufacturing sector reached RM921.5 billion, increased by 3.7 per cent as compared to the same period of 2023 (January - June 2023: 3.5%). The number of employees went up by 1.0 per cent to a total of 2.37 million persons, while salaries & wages grew by 1.3 per cent to RM49.3 billion. Subsequently, the sales value per employee stood at RM388,904, posting a growth of 2.7 per cent.

The full publication of the Monthly Manufacturing Statistics, June 2024 can be downloaded through eStatistik portal.

Released by:

DEPARTMENT OF STATISTICS MALAYSIA

9 August 2024

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Baharudin Mohamad

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