KUALA LUMPUR, July 2 — Selangor’s economy marked a new milestone with a contribution of 25.9 per cent to Malaysia’s Gross Domestic Product (GDP) for 2023, Menteri Besar Datuk Seri Amirudin Shari said today.
This is an increase of 0.4 per cent from its contribution of 25.5 per cent in 2022.
“Selangor made history with economic activity valued at RM406.1 billion, becoming the first Malaysian state with economic activity surpassing RM400 billion,” Amirudin said in a statement today.
He added that the size and value of the state’s economy were larger than that of Johor, Sarawak and Penang combined.
In 2023, Selangor recorded the highest economic growth in the country with a 5.4 per cent increase from 2022.
Since 2017, Selangor’s economy has grown by RM103.9 billion, equivalent to a 25.59 per cent increase after the new administration took over in 2018.
According to the Department of Statistics Malaysia (DoSM), Selangor is one of four states that surpassed the national economic growth rate, followed by Pahang, Johor and the Federal Territory of Kuala Lumpur.
The main driver of Selangor’s economy is the services industry, which grew by 6.1 per cent and now accounts for 61 per cent of the state’s economic activity.
