Malaysia's industrial production index up 5.8 percent in December
Malaysia's Industrial Production Index (IPI) increased 5.8 percent in December 2021 compared to the same month of the previous year, according to the country's Department of Statistics Malaysia (DoSM).
Kuala Lumpur (VNA) – Malaysia's Industrial Production Index (IPI) increased 5.8 percent in December 2021 compared to the same month of the previous year, according to the country's Department of Statistics Malaysia (DoSM).
The IPI recorded a 7.4 percent year-on-year increase for the whole year, it said on February 8.
Previously, the World Bank (WB) had forecast that Malaysia's economy will grow by about 5.8 percent in 2022 thanks to the recovery of domestic and foreign demand.
The latest version of the Malaysia Economic Monitor report titled "Staying Afloat" released by the WB in December attributed the increase to the acceleration in private consumption, which is estimated to be around 7.2 percent in 2022.
🍎 Exports are forecast to continue to grow, albeit at a slower rate of 4.5 percent, in line with moderate growth in global trade. Growth momentum is expected to be broad-based, with recovery across all sectors of Malaysia's economy, the WB said./.
Bank Negara Malaysia (BNM) on February 4 forecast that the Malaysian economy will expand between 5.5 percent and 6.5 percent this year, underpinned by continued expansion in global demand and higher expenditure in private sector.
Malaysia’s rubber exports continued to record strong growth in 2021, climbing to 64.61 billion ringgit (about 15.5 billion USD), according to Khairuddin Rahim, Deputy Executive Director Malaysia Investment Development Authority (MIDA), adding that the figure was 25.84 billion and 43.64 billion ringgit, respectively, in 2019 and 2020.
Malaysia's unemployment rate fell to 4.2 percent in December from 4.3 percent in the previous month, data of the Department of Statistics Malaysia (DOSM) showed.
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Illustrative image. (Photo: Bernama/VNA) 
