Stats Dept: Malaysia’s Industrial Production Index surges 9.3pc in March, highest since July 2013

Stats Dept: Malaysia’s Industrial Production Index surges 9.3pc in March, highest since July 2013

06 May 2021

Malaysia’s Industrial Production Index (IPI) surged 9.3 per cent in March 2021 as compared to the same month last year, the highest recorded since July 2013, said the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth in the IPI in March was driven by the manufacturing and electricity index which increased 12.7 per cent and 10.3 per cent, respectively, while the mining index saw a drop of 1.9 per cent.

“The IPI for the first quarter 2021 increased 3.9 per cent as compared to the same period of the previous year.

“The growth was due to the expansion of 6.8 per cent in the manufacturing index, while the mining and electricity sector recorded a decline of 4.1 per cent and  0.1 per cent respectively,” he said in a statement today.

Mohd Uzir said the major sub-sectors that contributed to the growth in the manufacturing sector in March 2021 were transport equipment and other manufactures (20.9 per cent); petroleum, chemical, rubber and plastic products (14.1 per cent); as well as electrical and electronics products (E&E; 13.8 per cent).

“The export-oriented industries drove the growth of the manufacturing sector by 12.4 per cent while domestic-oriented industries increased by 13.4 per cent.

“The growth of the manufacturing sector was also driven by the high capacity utilisation rate especially in E&E products and petroleum, chemical, rubber and plastic products sub-sectors,” he added.

According to DoSM, the mining sector output dropped 1.9 per cent in March 2021 against the same period of the previous year due to the decrease in crude oil and condensate index (-9.4 per cent).

“Meanwhile, natural gas index grew positively at 4.3 per cent,” it added.

Source: Bernama