MALAYSIA'S ACCUMULATED FIXED ASSET INVESTMENT UP 2.8% TO RM5.4 TRILLION IN 2022 -- DOSM

Malaysia's accumulated fixed asset investment, or gross capital stock (GKS),  rose 2.8% to RM5.4 trillion in 2022, the Department of Statistics Malaysia (DOSM) said.

The net capital stock (NKS), “which symbolised Malaysia's economic wealth,” registered RM3.4 trillion, according to the DOSM's Capital Stock Statistics 2022 report.

Chief statistician Datuk Seri Mohd Uzir Mahidin said the “NKS grew by 2.4% in 2022, compared to 1.8% in the previous year and this is in line with the recovery of gross fixed capital formation (GFCF), which rebounded to 6.8% in 2022, after a marginal decrease of 0.8% in the previous year.”

“Overall, all economic sectors recorded positive growth except for mining and quarrying, which experienced a marginal 0.02% contraction, an improvement from the previous year, which contracted 0.3%,” he said in a statement.

“Further elaborating on NKS performance by kind of economic activity, the value of fixed assets in the services sector was the highest among other economic activities, with a value of RM2.3 trillion, which contributed 68.6% in 2022,” DOSM noted.

This sector accelerated to 3.0% supported by increases in wholesale and retail trade, food and beverages and accommodation and utilities activities, which recorded 7.5%, 7.3% and 7.1% growth, respectively.

The NKS for the manufacturing sector amounted to RM395.2 billion and expanded by 2.7% (2021: 1.5%), driven by the subsector of food, beverages and tobacco, which increased by 6.1% (2021: 4.1%).