MANUFACTURING SALES VALUE REBOUNDS WITH 3.2 PCT GROWTH IN JAN 2024 -- DOSM

KUALA LUMPUR, March 12 (Bernama) -- The sales value of the manufacturing sector returned to positive growth of 3.2 per cent, reaching RM152.7 billion in January 2024, according to the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the sales value of the manufacturing sector rebounded to 3.2 per cent year-on-year (y-o-y) in January 2024 following a contraction since June 2023.

“The expansion was driven by the strong growth of 15.8 per cent in the transport equipment & other manufactures sub-sector (December 2023: 6.4 per cent), and the upward trend of the food, beverages & tobacco products sub-sector which surged by 11.4 per cent (December 2023: -2.6 per cent).

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“In addition, the non-metallic mineral products, basic metal & fabricated metal products sub-sector continued to grow vigorously, expanding by 9.6 per cent (December 2023: 7.4 per cent),” he said in a statement today.

Compared to the previous month, the sales value grew by 1.9 per cent as against the RM149.9 billion recorded in December 2023 (-3.3 per cent).

Additionally, the sales value of export-oriented industries which represented 69.1 per cent of total sales, increased slightly by 0.1 per cent in January 2024 (December 2023: -8.4 per cent).

“The upward momentum was predominantly fortified by the rise in the manufacture of vegetable & animal oils and fats at 12.7 per cent; chemicals and chemical products (5.3 per cent); and computer, electronics & optical products (2.7 per cent),” he said.

On a month-on-month basis, the sales value of export-oriented industries rose by 1.7 per cent compared with a decline of 3.9 registered in December 2023.

Meanwhile, Mohd Uzir said the sales value of domestic-oriented industries improved further by 10.8 per cent after registering a growth of 7.7 per cent in December 2023.

The improvement was primarily fuelled by the robust growth of 19.8 per cent in the manufacture of motor vehicles, trailers & semi-trailers; fabricated metal products except machinery & equipment which grew by 12.3 per cent; and the expansion of the manufacture of food processing products by 10.3 per cent.

Compared to the previous month, the sales value of domestic-oriented industries grew by 2.3 per cent compared with a decrease of 1.9 per cent in December 2023, he added.

-- BERNAMA