Stats Dept: SME’s GDP 1.0pc up in 2021 but slower than Malaysia’s 3.1pc

KUALA LUMPUR, July 27 ― Malaysia’s small and medium enterprises’ gross domestic product in 2021 increased 1.0 per cent, slower than Malaysia's GDP which grew 3.1 per cent, said the Department of Statistics Malaysia .

“The contribution of SMEs to GDP declined to 37.4 per cent with a value added of RM518.1 billion. The services and manufacturing sectors uphold their position as the main contributors with both sectors represent 83.0 per cent of SMEs’ GDP. Looking at SMEs’ GDP performance by kind of economic activity, Mohd Uzir said the manufacturing sector rebounded to 8.5 per cent from a decline of 2.9 per cent in the previous year.

“Similarly, the value added of SMEs in the agriculture sector rose to 1.9 per cent from negative 0.7 per cent driven by growth in the Rubber, oil palm, livestock and other agriculture sub-sector,” he said.

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