MALAYSIA’S NOMINAL GDP
AMOUNTED TO RM1.8 TRILLION IN 2023 WITH COMPENSATION OF EMPLOYEES CONSTITUTES
33.1 PER CENT
Malaysia's
GDP in current prices moderated to 1.6 per cent in 2023 after recorded
double-digit growth of 15.8 per cent in the previous year. The performance was
attributed to the Services, Construction and Manufacturing sectors, while the
Agriculture and Mining & quarrying sectors dropped during the year 2023.
The
contribution of CE to Malaysia’s GDP was 33.1 per cent, as against 32.3 per
cent in the preceding year. CE grew 4.2 per cent (2022: 6.5%) amounting to
RM603.3 billion (2022: RM578.7 billion), mainly driven by the Services and
Manufacturing sectors. The GOS remained as the largest income component with a share
of 64.8 per cent (2022: 67.1%). Nevertheless, GOS contracted 1.8 per cent in
2023 from 24.3 per cent growth in the previous year, influenced by the decline
in Mining & quarrying, Agriculture and Manufacturing sectors. Hence, GOS
registered a value of RM1,182.0 billion as compared to RM1,204.2 billion in the
last year.
On the other
hand, Net taxes contributed 2.1 per cent (2022: 0.6%) to Malaysia’s economy
with a substantial growth of 242.0 per cent from a decrease of 69.7 per cent in
2022. The performance was influenced by the expansion in taxes on production
and imports at 3.1 per cent. Meanwhile, subsidies recorded a significant
dropped of 34.2 per cent following a decrease in subsidies on petroleum and
diesel. Net taxes registered a value of RM37.7 billion as compared to RM11.0
billion in the previous year.
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yii\web\HeadersAlreadySentException: Headers already sent in /var/www/html/dosm/frontend/controllers/SiteController.php on line 191. in /var/www/html/dosm/vendor/yiisoft/yii2/web/Response.php:368
Stack trace:
#0 /var/www/html/dosm/vendor/yiisoft/yii2/web/Response.php(341): yii\web\Response->sendHeaders()
#1 /var/www/html/dosm/vendor/yiisoft/yii2/web/ErrorHandler.php(136): yii\web\Response->send()
#2 /var/www/html/dosm/vendor/yiisoft/yii2/base/ErrorHandler.php(152): yii\web\ErrorHandler->renderException()
#3 [internal function]: yii\base\ErrorHandler->handleException()
#4 {main}
Previous exception:
yii\web\HeadersAlreadySentException: Headers already sent in /var/www/html/dosm/frontend/controllers/SiteController.php on line 191. in /var/www/html/dosm/vendor/yiisoft/yii2/web/Response.php:368
Stack trace:
#0 /var/www/html/dosm/vendor/yiisoft/yii2/web/Response.php(341): yii\web\Response->sendHeaders()
#1 /var/www/html/dosm/vendor/yiisoft/yii2/base/Application.php(390): yii\web\Response->send()
#2 /var/www/html/dosm/www/index.php(24): yii\base\Application->run()
#3 {main}