Malaysia's April industrial output rises 50.1per cent, fastest in over decade

Malaysia's April industrial output rises 50.1per cent, fastest in over decade

Malaysia's industrial production rose by a record 50.1per cent in April from a year ago, marking the highest rate in more than a decade, on stronger demand across all sectors, government data showed on Friday.

A worker rides his bicycle inside the Lynas factory in Gebeng
FILE PHOTO: A worker rides his bicycle inside the Lynas factory in Gebeng, 270 km (168 miles) east of Kuala Lumpur April 19, 2012. REUTERS/Samsul Said

KUALA LUMPUR: Malaysia's industrial production rose by a record 50.1per cent in April from a year ago, marking the highest rate in more than a decade, on stronger demand across all sectors, government data showed on Friday.

The production index measures factory output in manufacturing, mining and electricity generation.

The expansion in April beat the 46.1per cent jump forecast by 10 economists in a Reuters poll, and sharply higher than the 9.3per cent rise recorded in March.

The previous record for industrial production was a 20.2per cent spike in March 2009.

The sharp improvement was reflective of recovery due to base effects from a coronavirus lockdown in March last year when the government shut down all economic activity, the Statistics Department said in a statement.

Manufacturing output rose 68per cent year-on-year in April, driven by demand for transport equipment and other manufactures, and non-metallic mineral products and basic metal and fabricated metal products, the department said.

Electricity output rose 14.3per cent, while mining rose for the first time since February last year by 22.9per cent, according to the data.

Malaysia's exports rose 63per cent in April, its quickest pace since 1998, on a rise in shipments in all categories except liquefied natural gas and transport equipment.

(Reporting by Joseph Sipalan; editing by Uttaresh.V)

Source: Reuters

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