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Malaysia's IPI rises 1.5% in February 2021, propelled by manufacturing growth

Malaysia's IPI rises 1.5% in February 2021, propelled by manufacturing growth
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KUALA LUMPUR (April 9): Malaysia's Industrial Production Index (IPI) increased 1.5% year-on-year (y-o-y) in February 2021, propelled by a 4.5% rise in the manufacturing index, said the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said conversely, the mining and electricity indices dropped 6% and 5.8% respectively.

On the manufacturing sector, he said output rose by 4.5% y-o-y in February 2021.

“The major sub-sectors contributing to the growth in the manufacturing sector in February 2021 were electrical and electronics products (10.3%), petroleum, chemical, rubber and plastic products (8.9%) as well as transport equipment and other manufactures (3.2%),” he said in a statement today.

He said the export-oriented industries drove the manufacturing sector’s growth by 5.8%, while domestic-oriented industries increased by 1.8%.

Meanwhile, Mohd Uzir said the mining sector’s output dropped 6% y-o-y in February 2021 due to a decrease in the crude oil and condensate index (-11.5%) and the natural gas index (-1.6%), while the electricity sector’s output contracted 5.8% y-o-y in February 2021.

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DOSM: Wholesale, retail trade slipped 0.9% y-o-y to RM108 billion in February