Service Sector In Malaysia 2020

We believe that mogsec is a good platform for us to understand a lot more on the challenges networking and needs of the oil gas industry in malaysia.

Service sector in malaysia 2020. Service sector to be fastest growing sector of economy. Service sector to be the fastest growing sector of the economy 4 1 growth in the manufacturing sector in 2020 agriculture sector to grow the slower pace at 3 4 stronger growth of 3 7 in construction sector in 2020 vs 1 7 in 2019 mining sector growth to moderate to 0 3 service sector to be the fastest growing sector of the economythe service sector is projected to grow 6 2 year on year y. Investment data services sector approved private investments in services sector january june 2020 2019 number potential employment domestic investment rm million foreign investment rm million. The industrial sector held 27 percent of workers close to the ten.

Mining sector growth to moderate to 0 3. As malaysia moves towards becoming a developed nation greater emphasis should be targeted on the development of the services sector to serve as the engine of growth to propel and sustain the economy. The service sector is projected to grow 6 2 year on year y o y in 2020 from 6 1 this year making it the. Agriculture sector to grow slower at 3 4.

In the eleventh malaysia plan 2016 2020 the services sector will continue to be the primary driver of the economic growth. The services sector dominated malaysia s employment in 2020 with around 63 percent of the labor force working in that sector. Stronger growth of 3 7 in construction sector in 2020 versus 1 7 in 2019. Gdp from services in malaysia averaged 152566 81 myr million from 2010 until 2020 reaching an all time high of 216950 myr million in the fourth quarter of 2019 and a record low of 99821 myr million in the first quarter of 2010.

The rise in sales value in august 2020 was driven by the increase in transport equipment other manufactures products 16 2 food beverages tobacco products 12 8 and electrical electronics products 7 1. We would love to return at mogsec 2020. Monthly manufacturing statistics malaysia august 2020 malaysia s manufacturing sales in august 2020 stood at rm118 5 billion grew 1 7 per cent as compared to previous year. The f b industry in malaysia has called for food businesses in all states nationwide to concurrently resume as per the government s recent loosening of covid 19 related lockdown restrictions but has hit a snag with seven of the nation s 14 states refusing to fully restart operations.