Four states in Malaysia, namely Penang, Selangor, Pahang, and Kuala Lumpur, have surpassed the national average in GDP growth for the year 2022, according to the Department of Statistics Malaysia (DOSM).
PENANG TOPS THE LIST
Penang experienced impressive growth of 13.1%, driven by its manufacturing sector, particularly in electrical, electronic, and optical products. Selangor, as the largest economy, achieved a growth rate of 11.9%, with the manufacturing sector playing a significant role.
3 PH States Better
Other states that outperformed the national GDP per capita were Kuala Lumpur, Labuan, Sarawak, and Pulau Pinang.
DOSM also reported that the Malaysian economic outlook for 2023 is projected to have moderate growth amidst global uncertainties. While the GDP growth rate slowed to 5.6% in the first quarter of 2023, the labour market showed strength, with an increase in the labour force participation rate and a decrease in the unemployment rate. 3 PH States Better
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