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Statistics Dept: Malaysia’s Industrial Production Index up 50.1pc on strong manufacturing growth

Statistics Dept: Malaysia’s Industrial Production Index up 50.1pc on strong manufacturing growth

11 Jun 2021

Malaysia’s Industrial Production Index (IPI) surged 50.1 per cent year-on-year (YoY) in April 2021, propelled by the strong performance of the manufacturing sector, said the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth was driven by the increment in all indices; manufacturing index (68.0 per cent), electricity index (22.9 per cent) and mining index (14.3 per cent).

“The sharp increment of growth in April 2021 was also a reflection of recovery due to the base effect from the implementation of movement control order (MCO) 1.0 last year,” he said in a statement today.

He said the manufacturing sector output rose by 68.0 per cent YoY in April 2021 after recording a growth of 12.7 per cent in March 2021.

The major sub-sectors contributing to the growth in the manufacturing sector were transport equipment and other manufactures (275.2 per cent), non-metallic mineral products, basic metal and fabricated metal products (141.0 per cent) and electrical and electronics (E&E) products (70.1 per cent), he said.

Mohd Uzir said the export-oriented industries drove the growth of the manufacturing sector by 52.8 per cent while domestic-oriented industries increased by 110.9 per cent.

“The growth of the manufacturing sector was also driven by the high capacity utilisation rate especially in E&E products and petroleum, chemical, rubber and plastic products sub-sectors.

“In addition, the performance of the manufacturing sector was also in line with the notable growth in exports and IPI for some of Malaysia’s main trading partners,” he said.

He said the mining sector output grew positively in April 2021 for the first time since February 2020 with 14.3 per cent growth YoY due to the increase in natural gas index (23.9 per cent) and crude oil and condensate index (2.7 per cent).

The electricity sector output expanded 22.9 per cent YoY in April 2021, he added.

Source: Bernama