PETALING JAYA: The sales value of the manufacturing sector slipped by 2.6% year-on-year (y-o-y) to RM155bil in November 2023, according to the Statistics Department. Chief statistician Malaysia Datuk Seri Mohd Uzir Mahidin said the decrease was primarily due to the substantial drop in the petroleum, chemical, rubber and plastic products sub-sector by 10.8% (October 2023: down 9.5%) and the electrical and electronics products sub-sector which fell by 5.3% (October 2023: down 2.7%). “Compared with the preceding month, the sales value fell by 1.1% against the RM156.7bil recorded in October 2023 (down 0.7%),” he said in a statement yesterday. The sales value of export-oriented industries, which accounted for more than two-thirds of total sales, posted a wider decline of 6.9% last November compared with last October (down 5.2%). The decline was predominantly attributable to the decrease in the manufacture of coke and refined petroleum products (down 10%), followed by the manufacture of computer, electronics and optical products (down 6.6%) and the manufacture of vegetable and animal oils and fats (down 3.8%).Mohd Uzir said the domestic-oriented industries sustained the positive momentum by recording 8.8% last November compared with 9.7% last October.

Source: The Star January 12, 2024 02:02 UTC