Malaysia’s net capital stock (NKS) expanded 4.2% to RM3.7 trillion in 2025, accelerating from 3.8% growth in the previous year, supported mainly by stronger capital accumulation in the services and manufacturing sectors, according to the Department of Statistics Malaysia (DOSM).
DOSM said the country’s Gross Capital Stock (GKS), which represents accumulated fixed assets, reached RM6.0 trillion, growing 3.9% during the year.
Productive Capital Stock, which measures the productive capacity of fixed assets, increased 4.1% to RM5.0 trillion, compared with growth of 3.8% in 2024.
Meanwhile, Consumption of Fixed Capital, which reflects the value of assets used up in production, rose 4.3% to RM258.3 billion.
By economic activity, the services sector recorded NKS growth of 4.9% in 2025, up from 4.5% a year earlier, while manufacturing expanded at a faster 5.5%, compared with 4.8% in 2024.
Construction grew 4.0%, while mining and quarrying increased 0.4% and agriculture rose 0.8%.
Services remained by far the largest contributor to national capital stock, accounting for 70.0% or RM2.6 trillion of total NKS.
Within services, finance, insurance, real estate and business services accounted for 34.4% of the sector’s NKS, followed by transportation and storage, and information and communication at 19.2%. Utilities contributed a further 11.5%.
Manufacturing accounted for 12.1% of total NKS, with capital stock valued at RM451.4 billion.
The manufacturing capital base was led by petroleum, chemical, rubber and plastic products, which contributed 36.4%, followed by electrical, electronic and optical products at 33.1%. Food, beverages and tobacco accounted for 11.8%.
By asset type, structures remained the dominant component, making up 81.0% of Malaysia’s NKS and recording growth of 4.1% in 2025.
Machinery and equipment accounted for 11.4% of total NKS and posted the strongest growth among major asset categories at 6.6%.
Other assets contributed the remaining 7.6% and grew 1.6% during the year.
The figures indicate that Malaysia’s capital base continued to expand in 2025, with the strongest momentum coming from manufacturing investment and machinery and equipment.
