KUALA LUMPUR, Aug 30 — The Malaysian economy remained intact, shaped by the convincing performance of its gross domestic product (GDP), exports and imports, employment, as well as commodities data, mainly by the crude palm oil sector.
The GDP grew 8.9 per cent in the second quarter of 2022 (Q2), far better than the 4.9 per cent recorded in the pre-pandemic level in Q2 2019, said the Department of the Statistics Malaysia (DOSM).
While exports jumped 30 per cent to RM336.1 billion in Q2, imports soared by 36.1 per cent to RM394.2 billion, showing the strength of the economy.
The department said Industrial Production Index (IPI) rose 6.9 per cent in Q2 versus the same period last year.
Concurrently, the sales value of manufacturing increased 17.4 per cent year-on-year to RM443.5 billion, and revenue of the services sector was 25.2 per cent stronger at RM506.5 billion.
Meanwhile, fresh fruit bunch (FFB) production showed an increased of 3.3 per cent to 8.02 million tonnes in July 2022.
The number of employed person went up 3.2 per cent to 15.7 million persons, while unemployment rate stood at 3.9 per cent, DoSM said.
“Based on the annual change of the Leading Index in June, Malaysia’s economy is in the direction of further growth in the coming months, in line with anticipated promising signs of strong domestic and export demand as well as the reopening of international borders,” it noted.
— Bernama
