KUALA LUMPUR: The industrial production index (IPI) rose 28% in May from a year ago, underpinned by the manufacturing sector and after a low base, the Statistics Department data showed on Monday.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth of IPI in May 2021 was underpinned by the expansion in all indices; manufacturing index (29.8%), mining index (20.7%) and electricity index (7.9%).”
However, the IPI increased at a slower pace from April’s surge of 50.1%, also due to the lower base last year during the Movement Control Order.
The expansion in May was faster than the 24.6% annual growth forecast by eight economists in a Reuters poll.
Commenting on the May IPI, Mohd Uzir said the manufacturing sector output based on year-on-year comparison rose by 29.8%, about half the pace of 68% in April 2021.
The major sub-sectors contributing to the growth in manufacturing sector in May 2021 were petroleum, chemical, rubber & plastic products (34.8%), non-metallic mineral products, basic metal & fabricated metal products (49.4%) and transport equipment & other manufactures (68.9%).
The export-oriented industries underpinned the growth of the manufacturing sector by 25.3% while domestic-oriented industries increased by 41.1%.
The mining sector output grew 20.7% in May 2021 from a year ago due to the increase in natural Gas index (30.9%) and crude oil & condensate index (8.6%).
“The electricity sector output expanded 7.9% in May 2021 as compared to the same month of the previous year, ” it said.