Contribution Of Manufacturing Sector In Malaysian Economy

As one of three countries that control the strait of malacca international trade plays a very significant role in malaysia s economy. It has direct and significant contribution to gross domestic product gdp and job creation and provides crucial inputs for the rest of the economy thus having a significant effect on the investment of a country. 3 11 economic growth and increase gross domestic product gdp the manufacturing sector plays important role in economic growth and increase our gross domestic product.

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Manufacturing sector has been growing in recent years and now accounts for 25 percent of gdp and more.

Contribution of manufacturing sector in malaysian economy. The largest sector of the economy is services accounting for around 54 percent of gdp. At one time it was the largest producer of tin rubber and palm oil in the world. Manufacturing has a large influence in the country s economy accounting for over 40 of the gdp. Malaysia is a developing economy in asia which in recent years has successfully transformed from an exporter of raw materials into a diversified economy.

The agriculture manufacturing and service sectors are important elements in any county s economy. Malaysia had the 37 th highest industrial production growth rate in the world at 7 5 percent. The agriculture manufacturing and service sectors are important elements in any county s economy. Industry is an equally important element of malaysia s economy.

The services sector dominated malaysia s employment in 2020 with around 63 percent of the labor force working in that sector. It has direct and significant contribution to gross domestic product gdp and job creation. In 2010 industry was responsible for 41 6 percent of malaysia s gdp. Malaysia is also the world s largest islamic banking and financial centre.

The electrical and electronics e e sector is the number one contributor to the manufacturing industry in malaysia. Data shows that the sector accounted for about 32 8 of the total exports in 2013 while providing employment to about 27 2 of the total workforce in the same year. The industrial sector held 27 percent of workers close to the ten. Manufacturing sector in malaysia contributes almost 80 of overall country s export and besides malaysia also known as the 17th largest exporting nation in the world.

Contribution of manufacturing sector in malaysian economy. It is because the majority of these projects are in high value and high growth industries. Also one of the contributions by the manufacturing sector in malaysian economy is the major sector in generating employment opportunities. 3 1 important of manufacturing sector.