PUTRAJAYA, March 11 — The adoption of the System of National Accounts 2025 (SNA) is expected to refine Malaysia’s economic growth projections by enhancing the accuracy and comprehensiveness of its statistical framework, said the Statistics Department (DOSM).
Chief statistician Datuk Seri Mohd Uzir Mahidin said the revision represents a significant advancement in ensuring that national accounts remain relevant in a rapidly evolving economic landscape.
“DOSM acknowledges the forthcoming adoption of the 2025 SNA, which is a milestone in global economic statistics.
“The revision, led by the United Nations and international statistical agencies, represents a significant advancement in how economies are measured,” he said in a statement today.
The department represented Malaysia at the 56th session of the UN Statistical Commission from March 4 to 7 in New York.
Uzir said by incorporating emerging sectors such as the digital economy and sustainability metrics, the SNA will allow for a more precise measurement of economic activities that are increasingly significant to Malaysia’s growth, such as e-commerce, digital services and green initiatives.
Additionally, Malaysia, with its export-driven economy contributing nearly 80 per cent to the gross domestic product (GDP), stands to benefit significantly from the 2025 SNA’s enhanced focus on globalisation and cross-border trade.
“These updates will enable policymakers to identify new growth drivers and craft more targeted strategies to sustain robust growth.
“The adoption of the 2025 SNA is a game-changer for Malaysia. It aligns our economic statistics with global standards, enabling us to better capture factors beyond GDP, such as well-being and sustainability, as well as emerging sectors like digitalisation and globalisation while fostering investor confidence,” he said.
He said this update is particularly timely as Malaysia continues its trajectory towards becoming a high-income nation.
Meanwhile, Uzir said the SNA is being carried out in parallel with the update of the International Monetary Fund 7th Edition of Balance of Payments and International Investment Position Manual to ensure consistency in macroeconomic statistics and enhance the coherence of national and international accounts.
Key updates in the SNA include improved measurement of well-being and sustainability, globalisation, digitalisation, and financial issues.
— Bernama
