The summary of findings provides information on the capital stock statistics in Malaysia for the period of 2005 to 20111. In line with the rebasing of GDP, the statistics were compiled using year 2005 as the new base year. As recommended by the 2008 SNA, several changes to the concept such as Capitalisation of Weapon Systems and R&D including some improvement in the compilation were taken into account in the rebasing exercise.
In 2011, the value of the capital stocks increased due to the improvement in the investment. Based on Table 1, the Gross Capital Stock (GKS) which is the accumulated investment of Malaysia increased 11.9 per cent in current price to attain RM2.9 trillion in 2011 from RM2.6 trillion in the previous year. After taking into account the Consumption of Fixed Capital (COFC) or depreciation, the Net Capital Stock (NKS) grew to RM1.9 trillion as compared to RM1.7 trillion recorded in the previous year, an increase of 11.4 per cent. The Productive Capital Stock (PKS) which reflects the productive assets of the economy strengthened by 11.7 per cent to RM2.4 trillion in 2011 as compared to RM2.1 trillion recorded in 2010. The COFC which indicates the foreseen obsolescence of the capital assets stood at RM131.0 billion in 2011, a growth of 9.1 per cent from RM120.0 billion registered in 2010.
GKS at constant price expanded 4.3 per cent to record a value of RM2.1 trillion in 2011 from RM2.0 trillion in the previous year. Meanwhile the NKS increased by 3.8 per cent, PKS grew by 4.1 per cent and COFC expanded by 4.4 per cent from the preceding year as shown in Table 2.
GROSS CAPITAL STOCK
Table 3 depicts the GKS at constant price was RM2.1 trillion in 2011 with a growth of 4.3 per cent. The increase was supported by the expansion in the Mining & Quarrying and Construction sectors with 12.0 per cent and 7.5 per cent respectively (Table 4). Meanwhile the Services sector grew by 3.6 per cent and Manufacturing increased 2.7 per cent. In terms of share, the Services sector contributed 69.2 per cent while the Mining and Quarrying sector posted 10.6 per cent in 2011 (Chart 1). The contributors of growth in the Services sector were the subsectors of Wholesale and Retail Trade, Accommodation and Restaurants 8.5 per cent; Transport, Storage and Communication (4.7 per cent); Utilities (2.5 per cent) and Finance, Insurance, Real Estate and Business Services (2.5 per cent).
In terms of type of assets, Structures which consist of Residential, Non Residential and Other Construction with a share of 62.1 per cent grew 3.0 per cent, while Transport Equipment (6.3 per cent share) increased by 9.3 per cent (Chart 2). Other Assets such as Mineral Exploration, Capitalised Planting and Livestock registered a growth of 10.1 per cent as compared to 9.4 per cent in 2010.
NET CAPITAL STOCK
Table 5 shows the NKS increased to RM1.3 trillion by registering a 3.8 per cent growth in 2011 as compared 3.6 per cent in the previous year. This was driven by the increase in the Mining and Quarrying 11.6 per cent, Construction (8.2 per cent), Agriculture (6.0 per cent), Manufacturing (4.2 per cent) and Services (2.2 per cent).
By type of assets, Other Assets increased by 10.0 per cent in 2011, followed by Transport Equipment (9.5 per cent), Machinery and Equipment (5.2 per cent) and Structures (1.8 per cent) as shown in Table 6. Structures remained as the largest assets in the Malaysia’s economy with a share of 65.5 per cent in 2011.
A growth of 29.3 per cent was recorded in the Machinery and Equipment for the Mining and Quarrying sector, while the Machinery and Equipment in the Construction sector grew 20.6 per cent. Other Assets in the Services and Construction sectors increased by 12.9 and 10.8 per cent respectively in 2011.
PRODUCTIVE CAPITAL STOCK
In 2011, the PKS at constant price worth RM1.7 trillion as depicted in Table 7. The Services sector accounting 69.5 per cent was the biggest contributor with a value of RM1.2 trillion. This was followed by the Manufacturing and Mining & Quarrying sectors which posted RM253.1 billion and RM217.3 billion respectively. The PKS recorded a growth of 4.1 per cent contributed by the expansion in the Mining and Quarrying 11.9 per cent, Construction (8.1 per cent), Agriculture (5.2 per cent), Manufacturing (3.3 per cent) and Services (2.9 per cent).
In terms of type of assets, Other Assets expanded by 10.3 per cent. Transport Equipment and Machinery & Equipment increased by 10.0 and 4.3 per cent respectively (Table 8). Structures registered an increase of 2.4 per cent in 2011 (2010: 2.6 per cent). Services sector registered a growth of 13.9 per cent for Other Assets followed by Transport Equipment which grew 10.7 per cent. Meanwhile, Other Assets such as Research & Development in the Manufacturing and Capitalised Planting & Livestock in Agriculture sectors rose 11.6 and 8.5 per cent respectively.