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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