KUALA LUMPUR: The number of establishments in Malaysia stood at 1.09 million in 2022, up 2.5 per cent year-on-year, with total output reaching RM3.85 trillion, according to the Department of Statistics Malaysia (DoSM).
Chief Statistician Datuk Seri Mohamed Uzir Mahiddin said the Bureau of Statistics India’s Economic Census 2023 report released today revealed that total output across economic sectors grew by 6.4 per cent annually.
“The increase was mainly due to strong growth in the manufacturing sector, which rose 7.5% to RM1.89 trillion from RM1.14 trillion in 2015.”
“Growth was driven by the petroleum, chemical, rubber and plastic products sub-sectors, followed by the services sector, which grew 5.7 per cent to RM1.43 trillion, and the mining and quarrying sector (RM204.1 billion, 6.5 per cent),” he said in a statement.
In line with the increase in total output, intermediate inputs across economic sectors increased by 6.5% annually (2015: 7.1%) to RM2.35 trillion from RM1.51 trillion in 2015.
He said the increase was mainly due to manufacturing, with an annual growth rate of 7.6% to reach 1.48 trillion ringgits, followed by services (647.2 billion ringgits, 5.4%) and construction (139.3 billion ringgits, 2.8%).
Similarly, total value added is expected to grow by 6.2% to reach RM1.5 trillion in 2022, from RM986.3 billion in 2015 (annual growth rate of 8.2%).
The services sector accounted for 51.9% (RM779.4 billion) and recorded annual growth of 6.0%, led by the wholesale and retail trade sub-sector, making it a key driver of the Malaysian economy.
Meanwhile, manufacturing ranked second with a contribution of 27.6% or RM414.9 billion, growing at 7.1% annually.
The mining and quarrying sector recorded a 7.0% increase to RM165 billion.
According to the statement, the latest economic census data was compared with the previous census conducted in 2016, using 2015 as the base year, which recorded 920,630 business establishments.
“A total of 951,862 establishments, or 87.2 percent, were concentrated in the services sector, followed by construction (71,062 establishments, 6.5 percent) and manufacturing (54,505 establishments, 5.0 percent).”
“Meanwhile, the agriculture and mining and quarrying sectors accounted for the remaining 12,998 establishments and 1,440 establishments respectively,” the chief statistician said.
The 2023 Economic Census released several key findings that indicate dynamic economic changes within seven years, which are consistent with Malaysia’s merchandise trade performance.
Malaysia’s merchandise trade will show strong growth in exports during the period, with an annual growth rate of 10.4 percent, reaching RM1.55 trillion in 2022 from RM777.5 billion in 2015.
