PERFORMANCE OF SMEs GDP

The contribution of SME GDP to the national GDP increased to 36.3 per cent as compared to 35.9 per cent recorded in 2014 (Table 1). This has reaffirmed SMEs role as substantial economic agents in supporting Malaysia’s economic growth.

In 2015, SME GDP at constant 2010 prices rose to RM385.6 billion from RM363.4 billion in the preceding year.

ANNUAL GROWTH

SME GDP advanced to 6.1 per cent from the overall GDP growth (5.0%) as portrayed in Chart 1. Services, Manufacturing and Construction were the key drivers in gearing up the performance of SMEs for the year of 2015 with a share of 86.4 per cent to total SME GDP.

Value added of SMEs for Services sector expanded by 6.6 per cent as compared to 5.1 per cent recorded in overall value added for this sector. The Wholesale & Retail Trade, Food & Beverage and Accommodation sub-sector has emerged as the prime mover of SMEs in Services. The expansion of this sector was also fuelled by the positive momentum in Finance, Insurance, Real Estate and Business Services sub-sector, mainly induced by real estate and business services.

In Manufacturing sector, value added of SMEs registered a growth of 6.0 per cent, outpacing the 4.9 per cent posted in overall value added for this sector. The growth was primarily spearheaded by Petroleum, Chemical, Rubber & Plastic products, largely backed by chemicals and chemical products. Moreover, Non-metallic Mineral Products, Basic Metal & Fabricated Metal Products also supported the performance in this sector. 

Value added of SMEs in Construction sector grew 7.6 per cent as compared to 8.2 per cent registered by overall value added for this sector. Specialised Construction Activities and Non-Residential Buildings underpinned the SMEs momentum for Construction.

DISTRIBUTION BY KIND OF ECONOMIC ACTIVITY

Services, Manufacturing and Mining & Quarrying were the forefront sectors in Malaysia’s economy for the year of 2015. These three sectors contributed 85.5 per cent to the GDP as depicted in Chart 2. From the SME GDP perspective, Services (58.9%) and Manufacturing (21.7%) sectors were the anchor of SMEs economic structure. Agriculture represents as the third largest contributor to the SME GDP with a share of 12.0 per cent.