Overview

The sales value of the Manufacturing sector amounted to RM154.9 billion in May 2024, an increase of 5.5 per cent

The sales The sales value of the Manufacturing sector grew by 5.5 per cent to RM154.9 billion in May 2024, after registering a growth of 5.7 per cent in the previous month. The increase was mainly underpinned by double-digit growth in the Electrical & electronics products (12.2%) sub-sector; followed by Non-metallic mineral products, basic metal & fabricated metal products (8.9%); and Food, beverages & tobacco (7.7%) sub-sectors. In comparison with the preceding month, the sales value expanded by 1.1 per cent (April 2024: -3.3%).

More than two-thirds of the sales value was contributed by the export-oriented industries, which improved further by 4.6 per cent year-on-year (April 2024: 3.4%). The growth was augmented by the Manufacture of computer, electronics & optical products (14.3%); coupled with a 9.0 per cent expansion in the Manufacture of vegetable & animal oils & fats. Month-on-month basis, the sales value of export-oriented industries returned to positive territory by recording a 2.5 per cent growth (April 2024: -3.9%).

The sales value of the domestic-oriented industries expanded by 7.9 per cent in May 2024 (April 2024: 11.4%) mainly attributable to the expansion in the Manufacture of motor vehicles, trailers & semi-trailers (12.9%); the Manufacture of fabricated metal products, except machinery & equipment (9.7%); and Manufacture of food processing products (6.3%) industries. As compared to the previous month, the sales value of domestic-oriented industries remained decline by 2.2 per cent (April 2024: -1.9%).

There were 2.38 million employees engaged in the Manufacturing sector in May 2024, which rose by 0.9 per cent as compared to 2.36 million persons recorded a year ago (April 2024: 1.0%). The increase was mainly in the Food, beverages & tobacco (4.6%); Non-metallic mineral products, basic metal & fabricated metal products (1.9%); and Wood, furniture, paper products & printing (0.8%) sub-sectors. In comparison with the preceding month, the number of employees in this sector increased marginally by 0.2 per cent.

The salaries & wages paid in the Manufacturing sector grew by 1.1 per cent year-on-year to record RM8.19 billion in May 2024. As against to the previous month, the salaries & wages increased by 1.0 per cent from negative 1.4 per cent in April 2024. The average monthly salaries & wages per employee was RM3,445 in May 2024, went up by 0.2 per cent as compared to a year ago, while the sales value per employee rose by 4.5 per cent to record RM65,146.

Summarising the cumulative performance of the Manufacturing sector up to May 2024, the sales value of the Manufacturing sector reached RM765.5 billion, increased by 3.3 per cent as compared to the same period of 2023 (January - May 2023: 5.1%). The number of employees went up by 0.9 per cent to a total of 2.38 million persons, while salaries & wages grew by 1.2 per cent to RM41.1 billion. Subsequently, the sales value per employee stood at RM321,927, posting a growth of 2.3 per cent.

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

Released by:

DEPARTMENT OF STATISTICS MALAYSIA

12 July 2024

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Baharudin Mohamad

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