Manufacturing sector’s sales value up 3% y-o-y in May to RM146.8 mil: DoSM

KUALA LUMPUR – The manufacturing sector’s sales value has returned to positive territory, recording 3.3% growth year-on-year to RM146.8 billion in May this year, bolstered by strong growth in, among others, transport equipment and other manufacturers, non-metallic mineral products, and electrical and electronics products, according to the Statistics Department.

The transport equipment and other manufacturers category recorded growth of 17.3%, non-metallic mineral products, basic metal and fabricated metal products (8.7%); and electrical and electronics products (8.2%).

This brings the manufacturing sector’s overall sales value performance for January to May 2023 to RM741.2 billion, increasing by 5.1% against the same period in the preceding year.

“The sales value of the manufacturing sector increased by 3.3% in May after recording a decline of 2.0% in the preceding month. On a month-on-month comparison, the sales value rebounded to 1.3% against -7.2% recorded in April,” it said in a statement today.

The department said the sales value of export-oriented industries, which represented 71.6% of total sales, rebounded marginally by 0.2% in May after registering a decrease in April 2023.

The increment was mainly contributed by the manufacture of computer, electronics and optical products (7.9%); manufacture of wood and products of wood and cork (7.5%); and the manufacture of coke and refined petroleum products (2.4%) industries.

“Nonetheless, the domestic-oriented industries sustained positive momentum to record double-digit growth of 12.3% in May (April: 1.6%).

“Meanwhile, the vibrant performance of domestic-oriented industries was primarily underpinned by the manufacture of motor vehicles, trailers and semi-trailers (20.1%); manufacture of food processing products (12.9%) and the manufacture of fabricated metal products, except machinery and equipment (10.6%) industries,” it shared.

During the first five months of the year, the number of employees increased by 2.6% to a total of 2.36 million persons while salaries and wages grew by 4.1% to RM40.6 billion.

Consequently, during the period, the sales value per employee recorded a 2.5% increase to RM314,636. – Bernama, July 12, 2023