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April industrial output surges 50.1%, exceeds survey | KLSE Screener

April industrial output surges 50.1%, exceeds survey

TheStar Fri, Jun 11, 2021 12:02pm - 1 week ago


The surge in the IPI exceeded a Bloomberg survey of a 48.6% jump in the IPI, based on the Statistics Department data released on Friday.

KUALA LUMPUR: Malaysia’s Industrial Production Index (IPI) soared 50.1% in April 2021 from a year ago, driven by strong performance of manufacturing sector which jumped by 68%.

The surge in the IPI exceeded a Bloomberg survey of a 48.6% jump in the IPI, based on the Statistics Department data released on Friday.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the jump in the April IPI was driven by the stronger performance in manufacturing, electricity and mining.

The manufacturing index increased by 68%, electricity index (22.9%) and mining index (14.3%).

“The sharp increment of growth in April 2021 was also a reflection of recovery due to base effect from the implementation of MCO 1.0 last year, ” he said.

The manufacturing sector output based on year-on-year comparison rose by 68% in April 2021 after recording a growth of 12.7% in March 2021.

The major sub-sectors contributing to the growth in manufacturing sector in April 2021 were transport equipment & other manufactures (275.2%), non-metallic mineral products, basic metal & fabricated metal products (141%) and electrical & electronics products (70.1%).

“The export-oriented industries driven the growth of the manufacturing sector by 52.8% while domestic-oriented industries increased by 110.9%, ” he said.

Mohd Uzir pointed out the growth of the manufacturing sector was also driven by the high capacity utilisation rate especially in electrical & electronic products and petroleum, chemical, rubber & plastic products sub-sectors.

In addition, the performance of the manufacturing sector also in line with the notable growth in exports and IPI for some of main trading partners of Malaysia.

As for the mining sector, it recorded positive output in April 2021, which was the first time since February 2020 with 14.3% from a year ago.

The expansion was due to the increase in natural gas index (23.9%) and crude oil & condensate index (2.7%).

The electricity sector output expanded 22.9% in April 2021 from a year ago.






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