KUALA LUMPUR, Feb. 21 (Xinhua) -- Malaysia's manufacturing industry operated at 79.8 percent of capacity in the fourth quarter of 2023, compared to 80.2 percent a year earlier, official data showed Wednesday.
The Department of Statistics Malaysia (DOSM) said in a statement that the lower capacity utilization of the manufacturing industry was primarily attributable to decreases in the sub-sectors of petroleum, chemical, rubber and plastic products, of 4.2 percent, and electrical and electronic products, of 0.5 percent.
On the other hand, the capacity utilization of the manufacturing industry improved as against 79.4 percent recorded in the previous quarter, continuing a positive trend for two consecutive quarters.
On a monthly basis, the utilization rate in the manufacturing industry had exceeded 80 percent for two consecutive months, operating at 80.4 percent in October 2023 and 80.1 percent in November 2023, before dropping to 78.9 percent in December 2023.
According to the DOSM, the decline in the capacity utilization rate in the fourth quarter of last year mirrored the trend of the industrial production index for the manufacturing sector, which slipped by 0.2 percent.
The decrease in production capacity was primarily due to factors including low demand and insufficient supply of materials.
As for 2023, the manufacturing industry operated at a lower capacity rate of 79.3 percent, compared to 80.4 percent in 2022. ■
