Malaysia’s producer price index rose 1.4% annually in May, slowing pace from the previous month’s 1.9% rise, Malaysia’s Department of Statistics said on Monday.
Growth is recorded in all subsectors. The mining sector grew by 6.6%, the agriculture, forestry and fisheries sector expanded by 1.3%, while the manufacturing sector recorded growth of 1%. The water supply index increased by 8.7%, while the electricity and gas supply index recorded an increase of 1.5%, according to the data.
We remind you that Malaysia can be considered one of the most open and expanding economies in South-East Asia, as demonstrated by the growing flow of investments coming primarily from East Asian countries (in particular China, Indonesia, Japan, Singapore and Korea) but increasingly also from the United States and EU countries. The economy boasts two absolute and well-established world records: that of rubber production, whose annual volume is close to half of the overall world volume, and that of tin production, also almost half of the world total. The exploitation of the oil fields of Sarawak and Sabah has allowed the country to be self-sufficient in energy (logically in relation to its limited industrial development). Among the most productive activities we remember the cultivation, especially that of rice, followed by cassava, corn, potatoes and sweet potatoes, tropical fruits, especially pineapple, coffee, cocoa, peanuts, coconut palms, palm trees oil, pepper and other spices. The main tin deposits are found in Perak, Johor, Pahangh and near Kuala Lumpur. Other mineral resources include iron ore, gold, bauxite, manganese and tungsten.
PHOTO: SHUTTERSTOCK
