SELANGOR has reaffirmed its position as Malaysia’s economic powerhouse, achieving a record-breaking Gross Domestic Product (GDP) of RM432.1 billion in 2024 — the highest ever recorded by a state in the country. The achievement marks a significant increase from RM406.1 billion in 2023 and makes Selangor the only state to surpass the RM400 billion threshold for two consecutive years.
The state now contributes 26.2 per cent of Malaysia’s total GDP, up from 25.9 per cent in the previous year, reflecting its sustained economic momentum and strategic positioning as a national growth driver.
Selangor’s GDP grew by 6.3 per cent year-on-year, significantly outpacing the national average of 5.1 per cent. This robust performance highlights the state’s strong fundamentals, consistent investor confidence and targeted policies for inclusive and sustainable development.
“Selangor’s continued progress is a reflection of the collective commitment and hard work of all stakeholders — from the public and private sectors to civil society and the rakyat,” said Chief Minister Dato’ Seri Amirudin Shari. “Together, we have built a thriving ecosystem that not only attracts investment, but also creates quality jobs and uplifts communities.”
The services sector remained the cornerstone of Selangor’s economy, accounting for 61.1 per cent of GDP. It expanded by 6.3 per cent to RM263.9 billion, driven by wholesale and retail trade, food and beverage services, accommodation, utilities, transportation and storage, information and communications, finance, real estate, and business services.
Manufacturing, the second-largest contributor, represented 29.1 per cent of the state’s economy and grew by 5.1 per cent. Key performing industries included electrical and electronics, processed foods and beverages, transport equipment, and vegetable and animal oil-based products.
Selangor also maintained its lead in national manufacturing output, contributing 32.9 per cent to the sector, and remained at the forefront of the services sector, with a 26.9 per cent share nationally.
Dato’ Hasan Azhari Idris, Chief Executive Officer of Invest Selangor Berhad, described the state’s economic strength as the outcome of long-term strategic efforts. “Selangor’s impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries,” he said.
“At Invest Selangor, we are focused on facilitating sustainable, innovation-driven investment while enhancing Selangor’s global competitiveness.”
Looking ahead, the state is set to host the 9th edition of the Selangor International Business Summit (SIBS) from 8 to 11 October 2025 at the Kuala Lumpur Convention Centre. The summit is now regarded as one of Southeast Asia’s leading trade and investment events, promoting cross-border partnerships, innovation, and business matchmaking.
With a future-ready workforce and advanced infrastructure, Selangor is poised to lead Malaysia’s next phase of economic transformation. The state government has reiterated its commitment to data-driven, innovation-led strategies that prioritise resilience, inclusivity, and long-term prosperity. - July 10, 2025
