SHAH ALAM, July 10 — Selangor last year kept its status as Malaysia’s economic powerhouse, contributing its RM432.1 billion gross domestic product (GDP) — the highest among all states — in 2024.
This makes Selangor the first and only state to have crossed the RM400 billion threshold for the second year running, and is a significant leap from its RM406.1 billion GDP in 2023.
In a statement today, Invest Selangor Bhd said the state’s stellar performance and record-high GDP reaffirms its role as leading contributor to Malaysia’s economy, having made up 26.2 per cent of the national GDP in 2024, an increase from 25.9 per cent in 2023.
“Our continued progress is a reflection of the collective commitment and hard work of all stakeholders from the public and private sectors to civil society and the rakyat,” said Menteri Besar Dato’ Seri Amirudin Shari. “Together, we have built a thriving ecosystem that not only attracts investment, but also creates quality jobs and uplifts communities.”
With its robust on-year GDP growth of 6.3 per cent, Selangor has outperformed the national average of 5.1 per cent, further evidence of its economic resilience and upward momentum thanks to sustained investor confidence and strategic efforts to drive high-impact, inclusive, and sustainable growth.
Meanwhile, Invest Selangor said the state has contributed a massive 32.9 per cent to the nation’s total manufacturing output, reaffirming its position as Malaysia’s industrial driving force.
It added that Selangor also leads in the services sector, contributing 26.9 per cent to Malaysia’s overall performance in this segment. The sector is also the largest contributor — at 61.1 per cent — to the state’s GDP, having grown by 6.3 per cent to RM263.9 billion.
It said this growth was supported by the wholesale and retail trade; food and beverages and accommodation; utilities, transport and storage; information and communications; finance and insurance services; and real estate and business services subsectors.
The second-largest contributor to the state GDP was the manufacturing sector, which accounts for 29.1 per cent and logged a growth of 5.1 per cent, driven by subsectors such as electrical and electronics; vegetable and animal oils and fats; food processing; beverage; and transport equipment.
The state’s diverse economy saw significant contributions from the services, manufacturing, and primary sectors, strengthening its appeal as an attractive top-tier investment destination with future-ready infrastructure and a highly skilled workforce.
Invest Selangor said the state will continue to champion regional economic leadership through business platforms such as the Selangor International Business Summit (SIBS) 2025 from October 8 to 11 at the Kuala Lumpur Convention Centre.
Now in its ninth edition, SIBS has become one of Southeast Asia’s premier trade and investment events, fostering business interaction and matching, knowledge exchange, and global partnerships.
Invest Selangor chief executive officer Dato’ Hasan Azhari Idris, expressing pride in the state’s achievements, said: “Selangor’s impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries.
“At Invest Selangor, we are focused on facilitating sustainable, innovation-driven investment while enhancing Selangor’s global competitiveness. This October, SIBS 2025 will once again serve as a powerful platform to showcase Selangor’s economic strengths and connect investors with real opportunities.”
The agency said that as Selangor continues to chart a progressive path, it remains committed to collaborative, data-driven, and innovation-led strategies that will build a resilient, inclusive and high-performing economy for all.
