KUALA LUMPUR: Malaysia's manufacturing sector experienced a 2.6 per cent decline in sales value in November 2023, from a significant drop in sales value of petroleum, chemical rubber, and plastic and electric and electronics products.
Petroleum, chemical rubber, and plastic was down 10.8 per cent, while electric and electronics products was down 5.3 per cent.
The Department of Statistics Malaysia (DOSM) said the sales value of export-oriented industries, which accounted for more than two-thirds of total sales, posted a wider decline by 6.9 per cent in November 2023 as compared with a 5.2 per cent decline registered in October 2023.
Domestic-focused industries maintained their favourable trend, achieving an 8.8 per cent growth in November 2023, albeit slightly lower than the 9.7 per cent reported in October 2023.
The manufacturing sector engaged 2.38 million persons in November 2023, an increase of 2.1 per cent as compared with the 2.33 million persons registered in November 2022.
In tandem with the addition in the number of employees, the salaries & wages paid in the manufacturing sector rose by 3.3 per cent year-on-year, totalling RM8.1 billion in November 2023
For the first eleven months of 2023, the sales value of the manufacturing sector stood at RM1.65 trillion, a marginal 0.6 per cent increase compared with the same period in the preceding year).
During the period, the number of employees added by 2.1 per cent, to record a total of 2.38 million persons while salaries and wages advanced by 3.6 per cent, amounting to RM89.0 billion. Meanwhile, the sales value per employee declined by 1.8 per cent, amounting to RM701,986.