The Department of Statistics Malaysia (DOSM) said in a statement that the net capital stock (NKS), which symbolized Malaysia's economic wealth, also grew 2.4 percent year-on-year to 3.4 trillion ringgit in 2022.
The net capital stock growth was in line with the recovery of gross fixed capital formation (GFCF), which rebounded to 6.8 percent in 2022, after a marginal decrease of 0.8 percent in the previous year.
Overall, all economic sectors recorded positive growth except for mining and quarrying.
The value of fixed assets in the services sector was the highest among other economic activities, with a value of 2.3 trillion ringgit, which contributed 68.6 percent in 2022.
Meanwhile, NKS for the manufacturing sector amounted to 395.2 billion ringgit and expanded by 2.7 percent.
Net capital stock in the construction sector posted a growth of 3.4 percent while net capital stock in the agriculture sector registered a growth of 0.6 percent. (1 ringgit equals 0.21 U.S. dollar)
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