Manufacturing Sales Value Rises 2.9 Pct To RM162.3 Bln In September-- DOSM

KUALA LUMPUR, Nov 8 (Bernama) -- The manufacturing sector's sales value for September 2024 reached RM162.3 billion, reflecting a 2.9 per cent increase year-on-year (y-o-y), according to the Department of Statistics Department (DOSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin noted that while the sector's sales continue to grow, the pace slowed compared to the 7.7 per cent growth recorded in August.

“The rise was mainly driven by the electrical and electronics products sub-sector, which grew by 5.8 per cent following a 10.3 per cent increase in August 2024.

“Growth was also supported by the food, beverages, and tobacco sub-sector, which increased by  5.6 per cent, and the non-metallic mineral products, basic metal, and fabricated metal products, up by 5.1 per cent,” he said in a statement.

Month-on-month, Mohd Uzir said the sales value eased by one per cent from RM163.9 billion in August 2024.

Export-oriented industries, which contributed 72.6 per cent of total sales, moderated to three per cent increase in September 2024 (August 2024: 7.7 per cent).

Key contributors included the manufacture of computers, electronics, and optical products (6.9 per cent) and the manufacture of vegetable and animal oils and fats (4.6 per cent).

Meanwhile, domestic-oriented industries grew by 2.5 per cent down from 7.6 per cent in August, impacted by a 7.3 per cent decline in the sales value of motor vehicles, trailers, and semi-trailers industry compared to a 10.4 per cent increase in the preceding month.

Offsetting the decline, he noted the manufacture of food processing products grew by 6.9 per cent, along with the fabricated metal products, except machinery and equipment (7.9 per cent) and the manufacture of other non-metallic mineral products (4.1 per cent).

Compared to the previous month, the sales value of both export and domestic-oriented industries fell 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 one per cent growth in August 2024, driven by increases in the food, beverages, and tobacco (2.4 per cent) and the non-metallic mineral products, basic metal and fabricated metal products (1.8 per cent)," he shared.

Month-on-month, the number of employees grew by 0.5 per cent, up from 0.4 per cent in August.

Salaries and wages in the sector rose by 1.2 per cent y-o-y in September, reaching RM8.23 billion. Compared to the previous month, this represented a 1.4 per cent increase, following a slight 0.1 per cent decline in August.

"This led to an increase in average monthly salaries and wages per employee by 0.4 per cent y-o-y to RM3,442. Simultaneously, the sales value per employee rose by 2.1 per cent to record RM67,861,” Mohd Uzir added.

For the third quarter of 2024, he said sales of the manufacturing sector reached RM483.2 billion, reflecting a growth of 6.5 per cent (Q2 2024: 5.7 per cent), attributable to the increase in the food, beverages and tobacco sub-sector (12.3 per cent); and electrical and electronics products (8.1 per cent) sub-sectors. 

He added for January to September 2024, the sector’s cumulative sales value reached RM1,404.8 billion, a 4.6 per cent increase compared to the same period in 2023 (January–September 2023: 1.2 per cent).

-- BERNAMA