KUALA LUMPUR: Malaysia’s Industrial Production Index (IPI) expanded by 5.3 per cent in July 2024, following 5.0 per cent growth in the previous month driven by a surge in manufacturing output, said the Department of Statistics (DOSM).
In a statement today, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said manufacturing output rose by 7.7 per cent in July 2024 compared to 5.2 per cent in the preceding month, and electricity output increased by 7.0 per cent compared to 3.5 per cent in June 2024.
"Meanwhile, the mining sector’s production declined 5.0 per cent against a 4.9 per cent growth in June 2024.”
"In comparison with the preceding month, the IPI dropped 1.5 per cent from 4.8 per cent growth in the previous month,” he said.
DOSM said that both export-oriented and domestic-oriented industries performed well in July 2024, registering growth rates of 7.8 per cent and 7.5 per cent, respectively, compared to the previous month’s 5.4 per cent and 4.6 per cent.
It said July 2024’s growth in export-oriented industries was driven by broad-based expansion across all sectors, with the manufacture of vegetable and animal oils and fats seeing a significant double-digit increase of 21.9 per cent compared with 11.0 per cent in June 2024.
DOSM said this was followed by a 5.0 per cent rise in the manufacture of computer, electronics, and optical products versus 4.9 per cent in June 2024.
"Additionally, the manufacture of coke and refined petroleum products continued to perform well, posting a growth of 11.7 per cent (June 2024: 12.5 per cent),” it said.
Year-on-year, DOSM said the expansion of export-oriented industries mirrored the performance of the country’s manufactured goods exports, which rose by 10.6 per cent in July 2024.
"However, on a month-on-month basis, the export-oriented industries declined by 3.3 per cent, compared to 11.8 per cent growth in June 2024,” it added.
On another note, Mohd Uzir highlighted that for the first seven months of 2024, the IPI increased by 4.1 per cent compared to 1.1 per cent in the previous corresponding period.
"All sectors posted growth, namely the mining (2.9 per cent), manufacturing (4.1 per cent), and electricity (7.1 per cent) indices,” he added. - Bernama
