Overview

PERFORMANCE OF SMEs GDP

The performance of SMEs GDP outpaced the Malaysia GDP in 2016 with a growth of 5.2 per cent compared to Malaysia GDP which stood at 4.2 per cent as shown in Exhibit 1. This reflects the importance of SMEs in gearing up the nation’s economy. The contribution of SMEs GDP to the Malaysia GDP has increased steadily to 36.6 per cent from 36.3 per cent recorded in preceding year.

In 2016, value added of SMEs at constant 2010 prices was RM405.5 billion (2015: RM385.6 billion). In nominal terms, SMEs GDP registered a value of RM463.2 billion, an increment of RM34.2 billion compared to 2015.

SMEs value added for Services sector (Chart 1) registered a growth of 6.4 per cent as compared 6.6 per cent in 2015. The growth momentum was supported by Finance, Insurance, Real Estate and Business Services sub-sector which registered a better growth of 5.9 per cent  (2015: 5.5%) driven mainly by Insurance and Business Services segments. On the same note, Wholesale & Retail Trade, Food & Beverages and Accommodation sub-sector grew to 6.8 per cent (2015: 7.0%) attributed by Wholesale and Motor Vehicles segments. Transportation & Storage and Information & Communication sub-sector moderated to 5.8 per cent (2015: 6.6%).

In Manufacturing sector, value added of SMEs recorded a growth of 4.8 per cent (2015: 6.0%) led by Food, Beverages and Tobacco sub-sector which increased 2.8 per cent (2015: 2.6%). Meanwhile, Petroleum, Chemical, Rubber & Plastic Products moderated to 5.4 per cent (2015: 6.1%) due to Chemicals and Rubber products. Furthermore, Non-Metallic Mineral Products, Basic Metal & Fabricated Metal Products registered at 6.2 per cent from 7.5 per cent in 2015. 

Value added of SMEs in Construction sector grew to 6.8 per cent (2015: 7.6%) underpinned by Specialised Construction Activities and Civil Engineering sub-sectors. Nevertheless, contraction in Non-Residential Buildings sub-sector has influenced overall performance in this sector. In addition, value added of SMEs in Mining & Quarrying sector recorded a growth of 8.2 per cent from 8.9 per cent in 2015.           

In Agriculture sector, value added of SMEs declined 1.7 per cent as compared to 2.0 per cent in the previous year. This was attributed by Rubber, Oil Palm, Livestock & Other Agriculture sub-sector which contracted to 2.4 per cent (2015: 3.0%) following a decrease in production of rubber and oil palm. Nonetheless, Fishing and Forestry & Logging sub-sectors posted a better momentum as compared to the preceding year.

COMPOSITION BY KIND OF ECONOMIC ACTIVITY

Services and Manufacturing sectors maintained its stronghold as the prominent economic activities in Malaysia for both SMEs GDP and Malaysia GDP. The combined share from the two sectors represented more than 70 per cent of the economy as depicted in Chart 2. Agriculture sector was the third largest contributor for SMEs GDP with a share of 11.2 per cent instead of Mining & Quarrying sector for Malaysia GDP.  

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