DOSM’s Recent Releases: February 2021

MALAYSIAN ECONOMIC STATISTICS REVIEW (MESR), VOLUME 2/2021 – 25th February 2021

Malaysian Economic Statistics Review (MESR) Volume 2/2021 provides the Malaysia’s economic situation in the fourth quarter of 2020 (Q4 2020) as well as overall performance for the year 2020. Further to the extensive narrative based on short term statistics, MESR also delved on focus issues to come out with featured articles. Thus, in this MESR an article entitled “The increasing trend of re-exports” is included.

Recent Releases:

—— —— ——

4th February 2021

EXTERNAL TRADE INDICES, DECEMBER 2020

▪ The export unit value index posted a positive growth at 1.0% in December 2020,
▪ The import unit value index also expanded 0.4% in December 2020 as compared with the previous month.
▪ Malaysia’s terms of trade rose 0.6% month-on-month from 99.6 points to 100.2 points in December 2020.

5th February 2021

SERVICES PRODUCER PRICE INDEX, FOURTH QUARTER 2020

▪ The Services Producer Price Index (SPPI) for the fourth quarter of 2020 increased 0.5 per cent to 110.1 as compared to 109.6 in the same quarter of the preceding year.
▪ On the Quarterly basis showed that the index declined 0.2 per cent.

8th February 2021

INDUSTRIAL PRODUCTION INDEX DECEMBER 2020

▪ The Industrial Production Index (IPI) grew 1.7 per cent in December 2020.

MONTHLY MANUFACTURING STATISTICS, MALAYSIA DECEMBER 2020

▪ Manufacturing sales stood at RM124.6 billion, grew 4.5 per cent.
▪ Total employees engaged in the Manufacturing sector were 2,199,195 persons.
▪ Salaries & wages paid amounted to RM7, 770.7 million.

LABOUR FORCE MALAYSIA DECEMBER 2020

▪ The number of employed persons in December 2020 was 15.22 million persons, an increase of 19.3 thousand from the previous month.
▪ The number of unemployed persons in December 2020 was 772.9 thousand, an increase of 8.5 thousand from the previous month.
▪ The unemployment rate stood at 4.8 per cent.

LABOUR FORCE OF FOURTH QUARTER 2020

▪ The labour supply situation improved gradually in fourth quarter of 2020 with the labour force continued to increase 0.5 per cent (81.7 thousand persons) quarter-on-quarter recording 15.92 million persons.
▪ The labour force participation rate (LFPR) in this quarter rose 0.1 percentage point to 68.5 per cent (Q3 2020: 68.4%).
▪ The number of unemployed persons increased to 760.7 thousand persons posted an unemployment rate at 4.8 per cent (Q3 2020: 4.7%; 745.0 thousand persons).

9th February 2021

PERFORMANCE WHOLESALE & RETAIL TRADE DECEMBER 2020

▪ Sales value of Wholesale & Retail Trade dropped 0.3 per cent year-on-year to record RM115.5 billion in December 2020.
▪ In terms of volume index, Wholesale & Retail Trade registered a growth of -0.7 per cent year-on-year.
▪ As for seasonally adjusted volume index, it went up 1.3 per cent month-on-month in December 2020.

VOLUME INDEX OF WHOLESALE & RETAIL TRADE Q4 2020

▪ The volume index of Wholesale & Retail Trade grew 1.4 per cent quarter-on-quarter in fourth quarter of 2020.
▪ As for seasonally adjusted volume index, it went up 1.3 per cent as compared to precedent quarter.

SERVICES STATISTICS Q4 2020

▪ Revenue of Services sector in fourth quarter 2020 recorded RM435.9 billion, increased 1.7 per cent as compared to third quarter 2020.
▪ Total number of persons engaged in this sector amounted to 3.7 million persons, decrease 10,502 persons or 0.3 per cent.
▪ Salaries & wages paid amounted RM24.7 billion, decrease of 0.1 per cent.

VOLUME INDEX OF SERVICES Q4 2020

▪ Volume Index of Services registered an increase of 0.3 per cent.
▪ Seasonally adjusted volume index of this sector increased 0.1 per cent to 122.9 points as compared to the previous quarter.

EMPLOYMENT STATISTICS Q4 2020

▪ During Q4 2020, the number of jobs recorded decreased by 204 thousand jobs to 8.457 million jobs (Q4 2019: 8.661 million).
▪ The rate of filled jobs remained at 97.9 per cent recorded with decreased of 12 thousand to 8.281 million filled jobs (Q3 2020: 8.293 million).
▪ There were 176 thousand job vacancies in Q4 2020 with a rate of 2.1 per cent (Q3 2020: 2.1%). ▪ A total of 16.7 thousand jobs were created in the private sector.

10th February 2021

MONTHLY RUBBER STATISTICS DECEMBER 2020

▪ Production of natural rubber increased 17.1 per cent in December 2020.
▪ Exports of Malaysia’s natural rubber amounted 61,547 tonnes in December 2020, an increase of 8.9 per cent.
▪ The stocks of natural rubber decreased in December 2020 to 249,555 tonnes as compared to 259,443 tonnes in November 2020 with a decrease of 3.8 per cent.
▪ Average price of Latex Concentrate recorded a decrease of 582.79 sen per kilogram.
▪ Total domestic consumption for natural rubber was 42,356 tonnes, a decrease of 4.5 per cent.

EXPORT IMPORT BY STATE DECEMBER 2020

▪ Malaysia’s total trade for December 2020 amounted to RM170.8 billion with exports of RM95.7 billion and imports worth RM75.0 billion.
▪ Pulau Pinang remained as the top exporter with a share of 31.2 per cent.
▪ Exports in December 2020 increased RM9.3 billion (+10.8%) over the year. Higher exports were recorded in most states such as Pulau Pinang (+RM5.8 billion).
▪ At the same time, imports also increased RM1.2 billion (+1.6%) over the year. Higher imports were mainly from Pulau Pinang (+RM2.1 billion), Selangor (+RM1.1 billion), Kedah (+RM775.3 million).

CONSTRUCTION STATISTICS Q4 2020

▪ Malaysia’s construction sector contracted 14.2 per cent in the fourth quarter of 2020.
▪ The value of construction work done in the fourth quarter 2020 amounting to RM31.7 billion (Q3 2020: RM31.4 billion).
▪ The Special trades’ activities sub-sector soared higher at 29.3 per cent in the fourth quarter 2020.

QUARTERLY DEMOGRAPHIC STATISTIC Q1 2021

▪ Malaysia’s population in the fourth quarter 2020 was estimated at 32.73 million, increased by 0.4 per cent.
▪ A total of 121,251 live births were recorded in the fourth quarter 2020, declined by 2.5 per cent.
▪ A total of 44,390 deaths were recorded in the fourth quarter 2020, declined by 0.4 per cent.

11th February 2021

GROSS DOMESTIC PRODUCT Q4 2020

▪ Malaysia’s Gross Domestic Product (GDP) contracted 3.4 per cent as compared to negative 2.6 per cent in the preceding quarter.
▪ For overall year 2020, Malaysia’s GDP contracted 5.6 per cent as against to 4.3 per cent in 2019.
▪ The Malaysia’s monthly GDP performance recorded a contraction of 4.7 per cent in October, declining slower in November (-4.0%) and December (-1.7%).

BALANCE OF PAYMENTS, Q4 2020

▪ Malaysia’s current account continued a surplus by recording RM19.0 billion in the final quarter of 2020.
▪ Financial account in this quarter recorded a lower net outflow of RM10.8 billion.
▪ The cumulative current account balance for 2020 was RM62.1 billion, the highest surplus since 2011.

MALAYSIA’S INTERNATIONAL INVESTMENT POSITION (IIP), Q4 2020

▪ As at end of Q4 2020, Malaysia’s International Investment Position (IIP) recorded lower net assets of RM79.6 billion.
▪ Direct Investment Abroad (DIA) position registered RM518.9 billion.
▪ Foreign Direct Investment (FDI) position in Malaysia recorded a higher value of RM703.5 billion.

17th February 2021

LABOUR PRODUCTIVITY OF FOURTH QUARTER 2020

▪ Malaysia’s labour productivity as measured by value added per hour worked dropped slightly by 0.8 per cent.
▪ Labour productivity by hours worked for Agriculture sector declined 0.4 per cent
▪ Mining and Quarrying sector fell 6.4 per cent of labour productivity per hour worked
▪ Labour productivity per hour worked for Manufacturing sector registered a growth of 6.0 per cent.
▪ Labour productivity by hours worked for Construction sector dropped 6.7 per cent in Q4 2020.
▪ Services sector posted a slower growth of labour productivity per hour worked at negative 2.7 per cent.

18th February 2021

LABOUR MARKET REVIEW, FOURTH QUARTER 2020

▪ In Q4 2020, employment improved marginally by 0.4 per cent to 15.16 million persons with the employment-to-population ratio remained the same (65.2%).
▪ The unemployment rate during the quarter was 4.8 per cent.
▪ A total of 8.457 million jobs were recorded in the registered private sector businesses.

24th February 2021

CONSUMER PRICE INDEX, JANUARY 2021

▪ Consumer Price Index (CPI) declined 0.2 per cent in January 2021
▪ CPI on a monthly basis increased by 1.2 per cent as compared to December 2020

MALAYSIAN ECONOMIC INDICATORS, DECEMBER 2020

▪ Malaysia’s Leading Index (LI) posted 108.8 points in December 2020
▪ The LI showed a decline of negative 0.3 per cent in terms of monthly percentage change.

25th February 2021

PRODUCER PRICE INDEX JANUARY 2021

▪ Producer Price Index (PPI) local production improved with a growth of negative 0.1 per cent.
▪ Total trade which valued at RM162.6 billion widened by 4.1 per cent as compared to January 2020.

26th February 2021

MALAYSIA EXTERNAL TRADE STATISTICS BULLETIN, JANUARY 2021

▪ Malaysia’s exports in January 2021 posted a stronger year-on-year (y-o-y) growth compared to imports, registering an expansion of 6.6 per cent from RM84.1 billion to RM89.6 billion.
▪ This was the highest export value ever recorded for the month of January thus far.
▪ Total trade which valued at RM162.6 billion widened by 4.1 per cent as compared to January 2020.

BUSINESS TENDENCY STATISTICS FIRST QUARTER 2021

▪ Businesses are more cautious in the first quarter of 2021 by registering -11.3 per cent as against -10.8 per cent in the past quarter.
▪ Industry sector is the key sector which shows recovery signal though continue in pessimistic sentiment with confidence indicator of -4.4 per cent in the reference quarter compared to -7.5 per cent in the fourth quarter of 2020.
▪ While, the Construction sector remains unfavourable with -51.2 per cent in this quarter as against -39.1 per cent in the previous quarter.
▪ For the first half of 2021, businesses show moderation in business prospects with an overall net balance of -4.6 per cent as against -3.7 per cent recorded previously.

Reference:

Department of Statistics, Malaysia