Malaysia's industrial production index (IPI) increased 9.4 per cent in November 2021 as compared to the same month of the previous year, according to the Statistics Department.
According to a poll by Reuters, November’s IPI is expected to expand seven per cent.
“The expansion of IPI was attributed to an increase of 11.3 per cent in the manufacturing index, 5.1 per cent in the electricity index and 3.7 per cent in the mining index.
“On a month-on-month basis, the IPI increased by 0.9 per cent driven by the manufacturing index and mining index,” chief statistician Dr Mohd Uzir Mahidin said in a statement.
The manufacturing sector output based on year-on-year comparison increased by 11.3 per cent in November 2021 after recording a growth of eight per cent in October 2021.
The main subsectors that contributed to the growth in the manufacturing sector in November 2021 were electrical and electronics products (17.8 per cent), food, beverages and tobacco products (12.9 per cent) and petroleum, chemical, rubber and plastic products (8.5 per cent).
Simultaneously, the growth of the manufacturing sector was driven by both export-oriented industry (12.5 per cent) and domestic-oriented industry (8.8 per cent).
The manufacturing sector on a month-on-month basis also increased 0.1 per cent as compared to October 2021 where the increment was reflected by higher capacity utilisation compared to last month, especially in the petroleum, chemical, rubber and plastic products, transport equipment and other manufactures, and electrical and electronic products subsectors.
The mining sector output grew 3.7 per cent in November 2021 as compared to the same period of the previous year.
The growth was contributed by the increment of 10.2 per cent in the natural gas index.
Meanwhile, crude oil and condensate index contracted by 4.4 per cent.
The mining index registered an increase of 6.8 per cent as compared to the previous month.
The electricity sector output rose 5.1 per cent in November 2021 as compared to the same month last year. On a month-on-month comparison, the electricity index declined by five per cent.
“The IPI in the period of January to November 2021 recorded an expansion of 7.5 per cent as compared to the same period of the previous year.
“The increment was impelled by the rise in all components; manufacturing index [9.6 per cent], electricity index [2.1 per cent] and mining index [1.9 per cent],” it said.
THE STAR (MALAYSIA)/ASIA NEWS NETWORK