PUTRAJAYA: Malaysia's average disposable household income increased by 3.2% to RM7,584 in 2024, according to the latest Household Income and Expenditure Survey (HIES) 2024 Report.
"In terms of disposable income, the average monthly disposable household income increased by 3.2% to RM7,584 in 2024, while the median rose 5.1% to RM5,999, representing 82.8% of total gross household income, indicating households' ability to meet essential expenditure needs," said the report.
It also highlighted that the increase in disposable income came alongside a gradual improvement in income distribution.
"Households in the Below 40 (B40) group, comprising 3.28 million households, had income of up to RM5,858," said the report, which was released on Wednesday (Oct 8).
The report comprises 33 official statistical publications presenting comprehensive findings and analyses of the country's socioeconomic landscape from the perspective of household income and expenditure.
The B40 share of total national income rose slightly to 16.7%, up from 16.3% in 2022.
In contrast, the Top 20% (T20), who earned RM12,680 and above per month, saw their share decline to 45.1%, down from 46.3%. The Middle 40% (M40), earning between RM5,860 and RM12,679, made up a significant portion of the remaining income share.
The event was launched by acting Economy Minister Datuk Seri Amir Hamzah Azizan.
The Gini Coefficient improved to 0.390 in 2024, as compared to 0.404 in 2022, signalling a narrowing of income inequality.
The national absolute poverty incidence decreased from 6.2% in 2022 to 5.1% in 2024, representing about 416,000 households.
"Poverty in urban areas declined to 3.7%, while poverty in rural areas improved to 10%
"The hardcore poverty incidence dropped to 0.09%, equivalent to fewer than 8,000 households earning below the Food Poverty Line Income (PLI).
