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IPI up 1.2% in January 2021

Malaysia’s Industrial Production Index (IPI) saw a 1.2% growth in January 2021 compared to the same month of the previous year driven by a 3.5% gain in the manufacturing index while the mining and electricity index fell 4.5% and 4.6%, respectively.

The country’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin highlighted that manufacturing output rose 3.5% on a year-on-year basis in January after recording a 4.1% growth in the December last year.

The major sub-sectors contributing to the growth for the month were electrical & electronics products (7.9%); petroleum, chemical, rubber & plastic products (4.5%) and wood products, furniture, paper products & printing (2.4%).

“The export oriented industries have driven the growth of the manufacturing sector by 4.6% while domestic oriented industries increased by 1.5%,” said Uzir in a statement today.

On the other hand, mining sector output dropped 4.5% for the first month of this year compared to the same period of the previous year. The deterioration was due to a decrease in crude oil & condensate index (-9.4%) and natural gas index (-0.5%).

Meanwhile, the electricity sector output contracted 4.6% yoy.

  • The Sun Daily