Overview

MSMEs' GDP surges by 11.6 per cent in 2022, reaching RM580.4 billion

Malaysia’s MSMEs' GDP recorded a growth of 11.6 per cent in 2022, surpassing the overall national GDP growth of 8.7 per cent. This indicates the growing significance of MSMEs in driving economic expansion. The contribution of MSMEs to the GDP also increased to 38.4 per cent, while the value added amounted to RM580.4 billion, marking a substantial increase from RM520.0 billion in 2021.

The Services and Manufacturing sectors uphold their position as the main contributors to MSMEs' GDP, accounting for a share of 84.6 per cent. Meanwhile, the Services sector rebounded to 16.4 per cent, supported by better performance in the Wholesale & retail trade, food & beverages and accommodation and Finance, insurance, real estate & business services sub-sectors.

The MSMEs’ exports totalled RM144.5 billion in 2022, expanded to 16.3 per cent, driven by Manufacturing sector with 19.5 per cent as well as the Services sector which rebounded to 5.7 per cent. Exports of MSMEs represented 10.5 per cent to total exports in 2022.

MSMEs’ exports for Services sector increased to RM27.7 billion, supported by the main components of Services sector namely Other Business services, Transportation and Telecommunications, computer & information services.

The contribution of MSMEs' employment to Malaysia's employment in 2022 was 48.2 per cent (2021: 47.8%). The number of MSMEs' employment continued to record a larger year-on-year increase with a growth of 3.8 per cent, registering a total of 7.59 million persons. The participation of MSMEs' employment in the Services sector was expanded over the year, surpassing more than half of total employment in this sector during 2022 (50.1%), and this sector strengthened further by 5.3 per cent to 4.87 million persons.

MSMEs’ labour productivity as measured by value added per employment grew by 7.5 per cent, recording a value of RM76,433 per person, surpassing the pre-pandemic value in 2019 of RM75,625 per person. The highest growth of MSMEs’ labour productivity was recorded in the Services sector, followed by Mining & quarrying, Construction and Manufacturing sectors.

The full publication of Micro, Small and Medium Enterprises (MSMEs) 2022 can be downloaded through eStatistik portal.

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Baharudin Mohamad
Public Relation Officer
Email: baharudin[at]dosm.gov.my
Phone: 03 8090 4681

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