The National Gross Domestic Product for all states in Malaysia recorded a 3.1 percent positive growth rate in line with the Government’s National Economic Plan for 2021.
The State Socioeconomic Report 2021 released by the Department of Statistics Malaysia earlier today revealed that the Malaysian economy regained momentum in 2021 with a growth of 3.1 percent from a negative 5.5 percent in the previous year.
This performance is driven by the Services and Manufacturing sector which accounts for 81.3 percent of the total GDP.
In terms of demand, private consumption expenditure remains the largest component with a contribution of 58.8 percent in 2021.
Malaysia’s GDP stands at RM1.39 trillion at currently.
In line with the overall performance, the Gross National Income per capita increased to RM47,324 from RM43,518 in the previous year.
Inflation, measured through the Consumer Price Index (CPI) increased by 2.5 percent compared to the negative 1.2 percent recorded in the previous year.
For the record, the inflation rate once reached 4.7 percent in April 2021, which is the highest level recorded since 2018.
Key highlights of the report show that the contribution of Central Region amounted to 52.7 percent of the annual GDP, followed by the Northern region with 16.5 percent and Sarawak and the Southern region sharing a contribution of 9.5 percent each respectively.
