Overview

Malaysia's Industrial Production Index rebounded to 4.7 per cent in May 2023, induced by positive momentum in all sectors

The Index of Industrial Production (IPI) returned to positive growth of 4.7 per cent in May 2023 as against negative 3.3 per cent recorded in the previous month. The expansion in May 2023 was attributed by the increase in all sectors,  predominantly by Manufacturing sector which registered 5.1 per cent (April 2023: 3.0%), Mining with 2.9 per cent (April 2023: -4.9%); and Electricity with 5.0 per cent (April 2023: -2.0%). As compared to April 2023, the IPI accelerated by 7.3 per cent after registering a negative growth of 10.8 per cent in April 2023.

The rise of 5.1 per cent in Manufacturing sector in May 2023 was propelled by the robust growth of 10.1 per cent in domestic-oriented industries (April 2023: -2.1%) which was backed by the Manufacture of motor vehicles, trailers & semi-trailers (16.4%); and Manufacture of fabricated metal products, except machinery & equipment (11.9%). Similarly, the export-oriented industries ascended by 2.8 per cent (April 2023: -3.5%) which was supported by the acceleration of the Manufacture of vegetable & animal oils & fats (13.0%); and Manufacture of coke & refined petroleum products (5.9%). A month-on-month comparison, the Manufacturing sector registered positive growth of 7.0 per cent as compared to negative 11.4 per cent in April 2023.

The output in the Mining sector improved to 2.9 per cent in May 2023, which was impelled by the increase in both Crude Oil & Condensate index and Natural Gas index by 0.6 per cent and 4.5 per cent respectively. In comparison with the preceding month, the Mining index expanded by 7.6 per cent as compared to a contraction of 10.7 per cent recorded in April 2023.

In the meantime, the Electricity output rose by 5.0 per cent in May 2023 after recording a negative 2.0 per cent in April 2023. As against the preceding month, the Electricity index strengthened to 10.1 per cent (April 2023: -4.8%). 

For the first five months of 2023, the IPI moderated to 2.0 per cent as compared to the same period of 2022 (January - May 2022: 4.1%). During the period, the Manufacturing sector expanded by 2.4 per cent, while Mining and Electricity sectors rose slightly by 0.9 per cent and 0.1 per cent respectively. 

The full publication of the Index of Industrial Production May 2023 can be downloaded through eStatistik portal.

Released by:

DEPARTMENT OF STATISTICS MALAYSIA
12 July 2023

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