Accumulated Fixed Asset Investment Up 3.0% To Rm5.60 Trn In 2023 -- DOSM 

Malaysia's accumulated fixed asset investment, or gross capital stock (GKS), grew 3.0% year-on-year (y-o-y) to RM5.60 trillion in 2023, the Department of Statistics Malaysia (DoSM) said.

Simultaneously, net capital stock (NKS), which represents the wealth of Malaysia's economy, reached a value of RM3.50 trillion last year.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the NKS continued to grow at 2.9% in 2023 as against 2.4% in the previous year.

“This NKS expansion was supported by better growth across all sectors except for Agriculture, which grew at a slower pace of 0.4% from 0.6% in 2022,” he said in a statement.

In its Capital Stock Statistics 2023 report released, DoSM said that the services sector was the largest contributor to NKS by kind of economic activity at 69% in 2023.

The report said the services sector NKS grew 3.5% to reach RM2.4 trillion.

“The NKS in the services sector was mainly attributed to finance, insurance, real estate, and business services (33.1%), followed by transportation and storage and information and communication (19.3%) and utilities activities (10.5%),” DoSM said.

Mohd Uzir added that all types of assets for NKS increased this year compared to 2022.

He said structure assets continued to dominate NKS with a contribution of 81.1%, growing 3.1% in 2023 compared with 2.7% in 2022.

“Machinery and equipment assets contributed 10.9%, an increase of 2.8% against 1.6% in the previous year,” he said.

Meanwhile, other assets accounted for 8.0% with a growth of 1.0% in 2023 (2022: 0.8%).

The chief statistician added that Malaysia's asset composition is similar to those of other countries, namely Australia, South Korea and Singapore.