Steady growth seen in Malaysian services sector

• Dec 22, 2017

KUALA LUMPUR: Malaysia’s services sector grew at an annual growth rate of 7.2% to 818,311 establishments between 2010 and 2015, the Department of Statistics Malaysia revealed.

According to the findings of the Economic Census 2016 for the services sector, sector income grew 8.3% per annum (p.a.) to RM2,004bil over the same five-year period, while value of gross output rose 8.4% p.a. to RM964.7bil and value generated increased 8.9% p.a. to RM518.3bil

The number of persons engaged in the sector also rose about 5% p.a. to 4.79 million persons while salaries and wages increased 10.1% p.a. to RM131.5bil.

The value of fixed assets for the sector incrased 12.7% annually from 2010 to 2015 to RM904.4bil.

“In terms of overall economy, Services sector recorded the highest contribution for number of establishments with 88.9%.

“Meanwhile, value of gross output and number of persons engaged in Services sector contributed 38.7% and 54.9% respectively to overall economy of Malaysia in 2015,” the report revealed.

In 2015, there were 173,536 women-owned establishments in the services sector as compared to 116,758 establishments in 2010, which means an annual growth rate of 8.2%. 

Wholesale and retail trade recorded the highest number of women-owned
establishments with 81,877 establishments, followed by food and beverage and personal services and other activities.

https://www.thestar.com.my/business/business-news/2017/12/22/steady-growth-seen-in-msian-services-sector/#BAHV6AAqmWUpbDET.99