Friday 29 Mar 2024
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KUALA LUMPUR (Nov 2): The Malaysian manufacturing sector is forecast to expand 4.7% year-on-year (y-o-y) in 2019, supported by export-oriented industries, following continuous expansion in electrical and electronics (E&E) as well as chemicals and chemical product subsectors, according to the Ministry of Finance's (MoF) Economic Report 2018/19, titled Fiscal Outlook 2019.

The MoF reported that the sector grew 5.1% y-o-y during the first half of 2018 and for the whole year, it is expected to grow at 4.9%, largely driven by export-oriented industries.

"Continuous expansion in the electronics cycle and favourable global industrial activities are expected to translate into firm demand for Malaysian manufacture exports, hence strong growth in the production of export-oriented manufactured goods," it said.

MoF explained that the export-oriented manufactured goods include E&E, petroleum, chemical, rubber and plastic products.

The ministry added that domestic-oriented industries are expected to be driven by robust growth of the food subsector, following strong household demand, while the construction-related subsector will be supported by continuous expansion in construction activities.

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