KOTA KINABALU: Sabah continued to record strong economic growth, with the services sector remaining the biggest contributor to its gross domestic product (GDP), according to the data gathered by the National Statistics Department (NSD).
The latest statistics published by the department showed the sector contributed about 50.4 per cent to Sabah’s overall GDP, followed by agriculture at 22.9 per cent, mining and quarrying 16.9 per cent, manufacturing 7.9 per cent and construction 1.4 per cent.
A census conducted by the department among 22,119 business entities in Sabah last year found 18,047 of them or 81.6 per cent were in the services sector.
NSD head Dr Abdul Rahman Hasan said this was in tandem with the country’s effort towards achieving a developed nation status, by emphasising on the shift to service-driven economy.
“Based on the statistics, the country is heading in the right direction as underlined in the Economic Transformation Programme that aims to grow the services sector from 58 per cent in 2009 to 65 per cent by 2020,” he said when speaking at the Sabah Statistics Department’s meet the customers programme here yesterday.
A handout containing key statistics at the function showed Sabah recorded a steady increase in exports and trade balance over the last three years.
Last year, the state’s export value stood at RM49.4 billion with trade surplus of RM16.6 billion, a significant increase from RM37.2 billion exports and RM11.2 billion trade surplus recorded in 2009.
Malaysia’s government is confident the nation’s gross domestic product will expand between 5 per cent and 6 per cent this year despite the volatile global economy
ReplyDeletePM said the country’s inflation rate is “manageable” and the government is confident of “high” growth with lower inflation,. Malaysia is on track to meet its 5.4% budget deficit target this year
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