Overview

The Manufacturing sector sales value registered at RM162.3 billion; rose by 2.9 per cent in September 2024

The Manufacturing sector's sales value reached RM162.3 billion, continuing to improve by 2.9 per cent year-on-year, although this growth slowed from the 7.7 per cent recorded in the previous month. The rise was primarily driven by the Electrical & electronics products sub-sector, which grew by 5.8 per cent after a 10.3 per cent increase in August 2024. The growth was also supported by the Food, beverages & tobacco sub-sector, with an increase of 5.6 per cent, and the Non-metallic mineral products, basic metal & fabricated metal products, which increased by 5.1 per cent. On a month-on-month basis, the sales value dropped by 1.0 per cent from RM163.9 billion in August 2024.

The sales value for the export-oriented industries, which accounted for 72.6 per cent, moderated to 3.0 per cent in September 2024 (August 2024: 7.7%). The Manufacture of computer, electronics & optical products (6.9%); and the Manufacture of vegetable & animal oils & fats (4.6%) were key contributors to the growth of export-oriented industries during the month.

The domestic-oriented industries grew by 2.5 per cent (August 2024: 7.6%) impacted by the decline in the sales value of the Manufacture of motor vehicles, trailers & semi-trailers industry at 7.3 per cent, as against 10.4 per cent increase in the preceding month. Offsetting the decline, the Manufacture of food processing products (6.9%) sustained the growth momentum; followed by the Manufacture of fabricated metal products, except machinery & equipment (7.9%) and the Manufacture of other non-metallic mineral products (4.1%). As compared to the previous month, both the sales value of export and domestic-oriented industries dropped by 1.1 per cent and 0.7 per cent, respectively.

There were 2.39 million employees in the Manufacturing sector in September 2024, marking a 0.8 per cent increase compared to a 1.0 per cent growth in August 2024. The increase was observed largely in the Food, beverages & tobacco (2.4%); and the Non metallic mineral products, basic metal & fabricated metal products (1.8%). In comparison with the preceding month, the number of employees in this sector augmented by 0.5 per cent, improved against 0.4 per cent registered in August 2024.

The salaries & wages paid in the Manufacturing sector rose by 1.2 per cent, reaching RM8.23 billion. Compared to the previous month, salaries & wages increased by 1.4 per cent, following a marginal drop of 0.1 per cent in August 2024. This led to an increase on average monthly salaries & wages per employee by 0.4 per cent year-on-year to RM3,442. Simultaneously, the sales value per employee rose by 2.1 per cent to record RM67,861.

For the third quarter of 2024, sales of the Manufacturing sector reached RM483.2 billion, reflecting a growth of 6.5 per cent (Q2 2024: 5.7%). The increase was primarily attributable to the Food, beverages & tobacco sub-sector (12.3%); and Electrical & electronics products (8.1%) sub-sectors. Furthermore, the number of employees and salaries & wages during the quarter rose by 0.8 per cent (Q2 2024: 1.0%) and 1.7 per cent (Q2 2024: 1.4%) respectively.

Throughout the first nine months this year (January – September 2024), the sales value of the Manufacturing sector reached RM1,404.8 billion, increased by 4.6 per cent as compared to the same period of 2023 (January – September 2023: 1.2%). The number of employees uptick by 0.8 per cent to a total of  2.39 million persons, while salaries & wages grew by 1.4 per cent to RM73.8 billion. Subsequently, the sales value per employee stood at RM587,494, posting a growth of 3.8 per cent.

The full publication of the Monthly Manufacturing Statistics, September 2024 can be downloaded through eStatistik portal.

Released by:

DEPARTMENT OF STATISTICS MALAYSIA

8 November 2024

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Baharudin Mohamad

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