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Malaysia’s manufacturing sales will reach RM1.8 trillion in 2023, a slight increase of 0.2% from 2022. However, sales in December fell 4.2% year-on-year to RM149.9 billion, mainly affected by the petroleum and chemical industries.
The rubber and plastic products sub-sector grew by 13.6%, but electrical and electronic products fell by 4.6%, and food, beverages, and tobacco fell by 2.6%. Sales in export-oriented industries fell by 8.4%, mainly due to decreases in coke and refined petroleum products.
Domestic-oriented industries grew by 6.7%, benefiting from the expansion of metal products and equipment. Total employment is 2.37 million, an increase of 1.7% from 2022.
(Source: Bernama Image source: freepik)
