Overview

The sales value in the Manufacturing sector stood at RM163.9 billion in August 2024, increased 7.7 per cent

The Manufacturing sector's sales value moderated to 7.7 per cent to reach RM163.9 billion in August 2024 (August 2023: -3.3%), as against 9.1 per cent growth observed in the preceding month. The increase was primarily due to the double-digit growth recorded in the Food, beverages & tobacco; and Electrical & electronics products sub-sectors at 16.1 per cent (July 2024: 16.0%) and 10.4 per cent (July 2024: 8.2%), respectively. On a month-to-month basis, the sales value grew by 4.4 per cent after a prior increase of 0.6 per cent at RM157.1 billion in July 2024.

Export-oriented industries which representing 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 increase in the Manufacture of computer, electronics & optical products (12.0%); Manufacture of vegetable & animal oils & fats (23.3%); and Manufacture of rubber products (11.6%) industries. For a month-on-month comparison, the sales value of the export-oriented industries recovering to 5.0 per cent from a marginal drop of 0.5 per cent in July 2024.

The domestic-oriented industries expanded 7.6 per cent (July 2024: 8.4%), mainly driven by the Manufacture of motor vehicles, trailers & semi-trailers industry at 10.4 per cent; followed by the Manufacture of food processing products (7.5%); and Manufacture of fabricated metal products, except machinery & equipment (9.7%). In comparison on a monthly basis, the sales value of domestic-oriented industries remained on the rise by recording a growth of 2.7 percent (July 2024: 3.7%).

There were 2.38 million employees engaged in the Manufacturing sector in August 2024, an increase of 1.0 per cent (July 2024: 1.3%) as compared to a year ago. The growth was predominantly attributed to Food, beverages & tobacco (3.9%); Wood, furniture, paper products & printing (1.1%); and Textile, Wearing Apparel, Leather & Footwear (1.5%). In comparison with the preceding month, the number of employees in this sector improved by 0.4 per cent (July 2024: -0.01%).

The salaries & wages paid in the Manufacturing sector rose by 1.5 per cent, reaching a total of RM8.12 billion. This resulted in the increase of average monthly salaries & wages per employee by 0.6 per cent year-on-year to RM3,417 (July 2024: 1.2%; RM3,429). Simultaneously, the sales value per employee rose by 6.7 per cent to record RM66,950 (July 2024: 7.8%; RM66,285).

For the first eight months of this year (January – August 2024), the Manufacturing sector's cumulative sales value reached RM1,242.6 billion, increased by 4.9 per cent as compared to the same period of 2023 (January - August 2023: RM1,184.7 billion; 1.7%). The number of employees went up by 1.0 per cent to a total of 2.38 million persons, while salaries & wages grew by 1.5 per cent to RM65.6 billion. Subsequently, the sales value per employee was RM522,573, posting a growth of 3.9 per cent.

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

Released by:

DEPARTMENT OF STATISTICS MALAYSIA

11 October 2024

For interviews, press statement and clarification to the media, contact:

Baharudin Mohamad

Public Relation Officer

Email: baharudin[at]dosm.gov.my

Phone: 03 8885 7942

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