Malaysia’s 2021 gross output increased to RM3.1 trillion

• Feb 17, 2023

KUALA LUMPUR: Malaysia’s gross output expanded by RM307.6 billion or 10.6 per cent to RM3.21 trillion in 2021 from RM2.90 trillion in 2020, said the Department of Statistics Malaysia (DOSM).

In its Annual Economic Statistic 2021, DOSM said the manufacturing sector remains a primary contributor with a 50.1 per cent share, or RM1.61 trillion, of the value of gross output and a 17.4 per cent annual percentage change.

This was followed by the services and construction sectors valued at RM1.17 trillion (share: 36.6 per cent; annual percentage change: 1.6 per cent) and RM170.8 billion (share: 5.3 per cent; annual percentage change: -1.4 per cent), respectively.

Meanwhile, DOSM said intermediate input for the overall economic sectors registered a double-digit growth of 12.2 per cent in 2021 to RM1.96 trillion from RM1.75 trillion in the previous year.

It said the value added for all economic sectors in 2021 grew 8.1 per cent, with an increase of RM93.8 billion to RM1.25 trillion against RM1.16 trillion in 2020.

“The services sector, with a share of 52.6 per cent, was the prime mover to the economy, with its value-added rebounding 1.7 per cent to RM658.2 billion in 2021 compared to RM647 billion in 2020,” it said.

DoSM said this was followed by the manufacturing sector with a 14.6 per cent growth with RM355.1 billion value added.

“The mining and quarrying sector also recorded a robust growth of 31.6 per cent, with a value-added of RM125.1 billion from 2020’s RM95 billion,” it added. – Bernama