The net capital stock, which represents the wealth of Malaysia’s economy, increased to RM3.28 trillion in 2021, from RM3.22 trillion in 2020, according to the Department of Statistics Malaysia (DOSM).
In the Capital Stock Statistics 2021 report released on Thursday (Oct 6), the DOSM said the growth was supported by the services sector at 68.2% of the overall share of economic activities, with a value of RM2.24 trillion, followed by the mining and quarrying sector which contributed 17%, and the manufacturing sector at 11.7%.
The services sector was supported by finance, insurance, real estate and business services activities with a share of 31.7%.
Transportation and storage and information and communications contributed 19.8%, while other services comprising government services, private education, private health and other private services contributed 31.3%.
The manufacturing sector consisting of petroleum, chemicals, rubber and plastic products contributed 36.1%; electrical, electronics and optical products accounted for 33.3%. The third largest contributor was food, beverage and tobacco products with 10.5%.
The DOSM said that looking at the type of assets, structure remained the main contributor to the capital stock, with a contribution of 80.7% and registering a 2.5% growth.
“Machinery and equipment were the second largest contributor with 11%, while other assets contributed 8.3% of total assets,” the DOSM added.