Overview

INTRODUCTION

This publication presents statistics on the financial services which obtained from the Annual Economic Survey 2018 for reference year 2017. Financial services encompass monetary intermediation activities; other financial service activities and activities auxiliary to financial services; insurance/takaful, reinsurance/retakaful and pension & provident funding activities; and activities auxiliary to insurance/takaful and pension funding. The main statistics such as the value of gross output, value of intermediate input, value added, number of persons engaged, salaries & wages paid as well as value of fixed assets are also presented in this publication.

PERFORMANCE OF FINANCIAL  SERVICES 

The financial services recorded a gross output value of RM138.0 billion in 2017 as compared to RM122.4 billion in 2015 with the annual growth rate of 6.2 per cent. In line with the rapid growth in gross output, the value of intermediate input increased by RM7.0 billion to record RM51.8 billion with the annual growth rate of 7.5 per cent. Thus, resulting a value added of RM86.2 billion for the year 2017.

VALUE OF GROSS OUTPUT

The gross output value of financial services recorded RM138.0 billion, with an annual growth rate of 6.2 per cent over the period of two years. A monetary intermediation activity was the largest contributor with a share of 49.1 per cent of total gross output which valued at RM67.8 billion. The second largest contributor was other financial service activities and activities auxiliary to financial services RM39.0 billion (28.3%). This was followed by activities on insurance/takaful, reinsurance/retakaful and pension and provident funding activities with RM30.5 billion (22.1%). Activities auxilliary to insurance/takaful and pension funding contributing the least share of 0.5 per cent with RM0.7 billion.

VALUE ADDED

The total value added recorded in financial services was RM86.2 billion with an annual growth rate of 5.4 per cent per annum within the period of two years. The monetary intermediation activities recorded the highest value added in 2017 which amounted to RM50.1 billion (2015: RM45.5 billion). This was followed by insurance/takaful, reinsurance/retakaful and pension and provident funding activities of RM19.0 billion (2015: RM15.9 billion); other financial services activities and activities auxiliary to financial services, RM16.7 billion (2015: RM15.7 billion) and activities auxilliary to insurance/takaful and pension funding of RM0.4 billion (2015: RM0.4 billion).

NUMBER OF PERSONS ENGAGED AND CATEGORY OF WORKES

Monetary intermediation activities registered the highest number of persons engaged at 160,583 persons contributing 44.9 per cent (2015: 45.9%). The second highest contributor was other financial service activities and activities auxiliary to financial services with 149,237 persons or 41.7 per cent (2015: 43.8%) followed by insurance/takaful, reinsurance/retakaful and pension and provident funding activities with 44,847 persons or 12.5 per cent (2015: 9.3%) and activities auxiliary to financial services with 3,326 persons or 0.9 per cent (2015: 1.0%).

Released By:

DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
 DrUzir_Mahidin    Dr_Uzir

30 April 2019

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