KUALA LUMPUR: Malaysia’s accumulated fixed asset investment, or gross capital stock (GKS), grew 3.0 per cent year-on-year (y-o-y) to RM5.60 trillion in 2023, the Department of Statistics Malaysia (DoSM) said.
Simultaneously, net capital stock (NKS), which represents the wealth of Malaysia’s economy, reached a value of RM3.50 trillion last year.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the NKS continued to grow at 2.9 per cent in 2023 as against 2.4 per cent in the previous year.
"This NKS expansion was supported by better growth across all sectors except for Agriculture, which grew at a slower pace of 0.4 per cent from 0.6 per cent in 2022,” he said in a statement today.
In its Capital Stock Statistics 2023 report released today, DoSM said that the services sector was the largest contributor to NKS by kind of economic activity at 69 per cent in 2023.
The report said the services sector NKS grew 3.5 per cent to reach RM2.4 trillion.
"The NKS in the services sector was mainly attributed to finance, insurance, real estate, and business services (33.1 per cent), followed by transportation and storage and information and communication (19.3 per cent) and utilities activities (10.5 per cent),” DoSM said.
Mohd Uzir added that all types of assets for NKS increased this year compared to 2022.
He said structure assets continued to dominate NKS with a contribution of 81.1 per cent, growing 3.1 per cent in 2023 compared with 2.7 per cent in 2022.
"Machinery and equipment assets contributed 10.9 per cent, an increase of 2.8 per cent against 1.6 per cent in the previous year,” he said.
Meanwhile, other assets accounted for 8.0 per cent with a growth of 1.0 per cent in 2023 (2022: 0.8 per cent).
The chief statistician added that Malaysia’s asset composition is similar to those of other countries, namely Australia, South Korea and Singapore. - Bernama
