Selangor records all-time high RM432.1bil GDP in 2024
PETALING JAYA : Selangor recorded an all-time high gross domestic product (GDP) of RM432.1 billion last year, the highest among all states across the country.
Invest Selangor said this was a significant increase from the RM406.1 billion GDP reported in 2023, adding that Selangor remains the only state to cross the RM400 billion mark two years in a row.
It added that Selangor contributed to 26.2% of Malaysia's overall GDP last year, up from 25.9% in 2023, Bernama reported.
In terms of year-on-year growth, Selangor's stood at 6.3%, outpacing the national average of 5.1%.
Invest Selangor said the services sector was the largest contributor to the state's GDP at RM263.9 billion, or 61.1%, with a year-on-year growth rate of 6.3%.
'The second-largest contributor was the manufacturing sector, which accounted for 29.1% of the GDP, driven by subsectors such as electrical and electronics; vegetable and animal oils and fats; food processing; beverages; and transport equipment,' it said.
Invest Selangor CEO Hasan Azhari Idris said this GDP performance was the fruit of long-term planning and initiatives aimed at wooing quality investments in high-growth sectors.
'At Invest Selangor, we are focussed on facilitating sustainable, innovation-driven investment while enhancing Selangor's global competitiveness,' he added.
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