Malaysia's IPI accelerates 6.1% in April on higher output growth in manufacturing - DoSM


KUALA LUMPUR: Malaysia’s Industrial Production Index (IPI) accelerated 6.1 per cent year-on-year in April 2024, underpinned by higher output growth in the manufacturing sector, according to the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin said the IPI growth accelerated further in April after registering 2.4 per cent in the preceding month, sustaining a positive momentum for four consecutive months.

The April IPI also marked the highest growth registered since September 2022, bolstered by the expansion across all sectors during the month.

The manufacturing sector output rose by 4.9 per cent, while mining posted a vigorous growth of 10.0 per cent and the electricity sector remained steady at 7.6 per cent.

"The increase in manufacturing output in April 2024 was supported by higher production in export-oriented industries by 2.6 per cent against 0.5 per cent recorded in March 2024.

"This upturn was primarily led by the manufacture of coke and refined petroleum products, and the manufacture of chemicals and chemical products, which registered increases of 5.9 and 5.0 per cent, respectively," he said.

Furthermore, he noted that the manufacture of furniture experienced a surge of 13.1 per cent during the month.

"The year-on-year expansion mirrored the country's manufactured goods export performance, which expanded by 7.1 per cent in April 2024 and on a month-on-month comparison, the export-oriented industries fell by 11.6 per cent compared to 11.0 per cent growth in March 2024," he said.

The domestic-oriented industries continued to expand by registering 9.5 per cent compared to 3.1 per cent in March 2024, primarily spurred by a remarkable growth of 20.2 per cent in the manufacture of motor vehicles, trailers and semi-trailers.

Mohd Uzir said the surge of 10 per cent in the mining sector was steered by double-digit growth of 14.9 per cent in natural gas production while crude oil and condensate output rebounded by 3.5 per cent.

The IPI performance between January and April 2024 improved by 3.9 per cent compared to 1.3 per cent recorded in the same period of the previous year.

"During the period, all sectors posted an expansion, namely the mining index, manufacturing index and electricity index," he added. - Bernama

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