KUALA LUMPUR, May 9 — Malaysia’s Industrial Production Index (IPI) improved to 3.1 per cent in March 2023, driven by a 4.1 per cent expansion in the manufacturing sector and a 0.8 per cent rebound in the mining sector.
However, the electricity index slipped to a negative 0.3 per cent during the month versus a positive 1.1 growth in February 2023, the Department of Statistics Malaysia (DOSM) said in a statement.
On a month-on-month comparison, the IPI saw a vigorous 8.3 per cent growth in March 2023 after a consecutive three-month declining trend. On a year-on-year basis, however, the IPI moderated to 2.8 per cent versus 4.0 per cent registered in the last quarter of 2022.
Chief Statistician Datuk Seri Mohd Uzir Mahidin said the 4.1 per cent rise in manufacturing output was mainly backed by domestic-oriented industries which rose by 5.0 per cent (February 2023: 7.0 per cent).
“The rise in the domestic-oriented industries was propelled by the manufacture of motor vehicles, trailers and semi-trailers by 9.8 per cent (February 2023: 9.5 per cent) and fabricated metal products manufacturing, with the exception of machinery and equipment, which saw a 5.5 per cent rise (February 2023: 8.5 per cent),” he said.
The export-oriented industries grew by 3.6 per cent (February 2023: 3.7 per cent), induced by the manufacture of computers, electronics and optical products which rose by 7.1 per cent (February 2023: 6.4 per cent), and the manufacture of vegetable and animal oils and fats which soared by 15.2 per cent versus 18.3 per cent in February 2023.
Compared with February 2023, the manufacturing sector recorded a positive 7.8 per cent after registering a continuous decline since December 2022.
On a year-on-year comparison, the manufacturing and mining indices rose by 3.4 per cent and 2.1 per cent, respectively, while the electricity index saw a 1.2 per cent decline.
— Bernama
