The Manufacturing sector's sales value moderated to 7.7 percent to reach RM163.9 billion in August 2024 (August 2023: -3.3%), as against 9.1 per cent growth observed in the preceding month.

The Department of Statistics said the increase was primarily due to the double-digit growth recorded in the Food, beverages & tobacco; and Electrical & electronics products sub-sectors at 16.1 percent (July 2024: 16.0%) and 10.4 percent (July 2024: 8.2%), respectively. On a month-to-month basis, the sales value grew by 4.4 percent after a prior increase of 0.6 per cent at RM157.1 billion in July 2024.

Export-oriented industries which representing 72.7 per cent of the total sales value, grew by 7.8 per cent in August 2024, a modest rise from 9.4 per cent recorded in the previous month. The performance was mainly influenced by the increase in the Manufacture of computer, electronics & optical products (12.0%); Manufacture of vegetable & animal oils & fats (23.3%); and Manufacture of rubber products (11.6%) industries. For a month-on-month comparison, the sales value of the export-oriented industries recovering to 5.0 per cent from a marginal drop of 0.5 per cent in July 2024.

The domestic-oriented industries expanded 7.6 per cent (July 2024: 8.4%), mainly driven by the Manufacture of motor vehicles, trailers & semi-trailers industry at 10.4 per cent; followed by the Manufacture of food processing products (7.5%); and Manufacture of fabricated metal products, except machinery & equipment (9.7%). In comparison on a monthly basis, the sales value of domestic-oriented industries remained on the rise by recording a growth of 2.7 percent (July 2024: 3.7%).

There were 2.38 million employees engaged in the Manufacturing sector in August 2024, an increase of 1.0 per cent (July 2024: 1.3%) as compared to a year ago. The growth was predominantly attributed to Food, beverages & tobacco (3.9%); Wood, furniture, paper products & printing (1.1%); and Textile, Wearing Apparel, Leather & Footwear (1.5%). In comparison with the preceding month, the number of employees in this sector improved by 0.4 per cent (July 2024: -0.01%).

The salaries & wages paid in the Manufacturing sector rose by 1.5 per cent, reaching a total of RM8.12 billion. This resulted in the increase of average monthly salaries & wages per employee by 0.6 per cent year-on-year to RM3,417 (July 2024: 1.2%; RM3,429). Simultaneously, the sales value per employee rose by 6.7 per cent to record RM66,950 (July 2024: 7.8%; RM66,285).

For the first eight months of this year (January – August 2024), the Manufacturing sector's cumulative sales value reached RM1,242.6 billion, increased by 4.9 per cent as compared to the same period of 2023 (January – August 2023: RM1,184.7 billion; 1.7%). The number of employees went up by 1.0 per cent to a total of 2.38 million persons, while salaries & wages grew by 1.5 per cent to RM65.6 billion. Subsequently, the sales value per employee was RM522,573, posting a growth of 3.9 per cent.