Malaysia: Manufacturing and agriculture sectors main drivers

KUALA LUMPUR: The manufacturing and agriculture sectors are among the main contributors to the country’s economic growth during the Covid-19 pandemic, according to Deputy Minister in the Prime Minister’s Department (Economy) Arthur Joseph Kurup.

He said the latest indicators that showed the better economic achievement included the Manufacturing Sector Production Index Performance which increased by 2.1% in September 2020 compared with a contraction of 2.1% in August 2020.

The sales value of the manufacturing sector also recorded an increase of 3.7% in September to RM121.2bil, he added.

Besides that, he said the price of crude palm oil has again rallied above the RM3,000 per tonne level to RM3,422 per tonne in November 2020 compared with the lowest level of RM2,074 per tonne in May 2020.

“The price of SMR20 rubber rose to its highest level of RM6.33 per kg in November 2020 from the lowest price level of RM4.73 per kg in April 2020, ” he said. — Bernama