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BusinessToday
02-07-2025
- Business
- BusinessToday
Johor Tops National Growth With 6.4% GDP Surge In 2024
Johor recorded the highest Gross Domestic Product (GDP) growth in the country for 2024 at 6.4%, surpassing the national average of 5.1%, according to the Department of Statistics Malaysia (DOSM). The surge was largely driven by strong momentum in the services, construction, and manufacturing sectors, bolstered by rapid development in data centres, digital infrastructure and a competitive industrial ecosystem. Johor also maintained its position as the main contributor to the national agriculture GDP at 17.3%, supported by increased palm oil production and growth in the food processing and vegetable oil subsectors. Menteri Besar Datuk Onn Hafiz Ghazi said the state's achievement has strengthened the execution of Agenda Maju Johor, which targets annual GDP growth between 7% and 8% by 2030. 'Praise be to God. Johor has emerged as the state with the highest growth rate in 2024 at 6.4%, surpassing the national growth rate, with the state's GDP now reaching RM158.0 billion. My deepest appreciation to all parties who have worked together to achieve this,' he said in a Facebook post today. 'May this achievement catalyse Johor to continue advancing as an international investment hub, driving national economic growth and securing a brighter future for all, God willing.' He attributed the growth to investor-friendly policies, modern infrastructure development and initiatives to empower the rakyat's economic elements aimed at positioning Johor as a prosperous, sustainable, and inclusive state. Onn Hafiz also highlighted the Johor-Singapore Special Economic Zone (JS-SEZ) as a key driver in attracting regional investments. Johor's strategic location, world-class ports, strong infrastructure and expansive industrial zones continue to boost investor confidence. 'My utmost gratitude to the Regent of Johor, Tunku Mahkota Ismail, for his continuous support, guidance and advice in ensuring the state's economic development continues to advance for the progress and well-being of the Johor people,' he added. Related
The Sun
02-07-2025
- Business
- The Sun
Johor leads Malaysia's GDP growth with 6.4% surge in 2024
JOHOR BAHRU: The Johor state government is confident that the state is on the right track to emerge as Malaysia's new economic driver when it records the highest gross domestic product (GDP) growth in 2024. The state's Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said that, based on a report by the Department of Statistics Malaysia, Johor recorded a GDP growth of 6.4 per cent, surpassing the national growth rate of 5.1 per cent. 'I would like to express my gratitude and pride for the official report which confirmed that Johor recorded the highest GDP growth in Malaysia for 2024, surpassing the national growth rate,' he said in a Facebook post on Wednesday. He said Johor's GDP has now reached RM158.0 billion, strengthening its position as one of the main contributors to the country's economy along with Selangor, Kuala Lumpur and Sarawak. The outstanding achievement was contributed by balanced growth in several sectors, including a 42.7 per cent surge in the construction sector, driven by large-scale data centre projects and digital infrastructure, such as cooling systems and high-capacity optical fibres, he said. Lee said the state government is also actively collaborating with the federal government to implement high-impact projects such as the widening of the North-South Expressway, the Senai-Desaru Expressway, the ART project in Iskandar Malaysia, the RTS Link and the proposed Southern Route Commuter service. Johor is also improving its investment and workforce ecosystem through initiatives such as the Johor Malaysian Investment Facilitation Centre and the Johor Talent Development Council to meet future industry demands. He said the two main policies, namely the Johor-Singapore Special Economic Zone (JS-SEZ) and the Forest City Special Financial Zone, are aimed at strengthening the regional investment and financial services ecosystem. 'With a combination of large-scale infrastructure projects, progressive investment policies and a strategic position at the crossroads of ASEAN economies, Johor is not only recording growth but is also shaping the future of the country's economy,' he said.
The Sun
01-07-2025
- Business
- The Sun
Johor records highest GDP growth among states in 2024
JOHOR BAHRU: Johor recorded the highest Gross Domestic Product (GDP) growth rate among the states in 2024 at 6.4 per cent, surpassing the national average of 5.1 per cent, according to the Department of Statistics Malaysia (DOSM). In a statement today, the DOSM reported that Johor's GDP is valued at RM158.0 billion in 2024, supported by its strategic location in the southern part of Peninsular Malaysia, modern infrastructure network, major ports, and extensive and competitive industrial zones. In 2023, Johor recorded a growth rate of 4.1 per cent, with its GDP valued at RM148.6 billion. DOSM highlighted that the rapid development of data centres in the state is a key driver of economic growth, particularly in the services, manufacturing, and construction sectors. 'The services sector grew by 6.0 per cent, driven by large-scale investments in data centres. 'Notable expansions are seen in the finance and insurance subsectors, real estate, and business services, which grew by 8.7 per cent, alongside strong performances in the utilities, transportation and storage, and information and communication technology (ICT) subsectors, which grew by 6.0 per cent,' it said. Johor's construction sector surged by 42.7 per cent in 2024, fueled by building and civil engineering projects, including power substations, advanced cooling systems, and high-capacity fibre optic networks. 'This development of digital infrastructure, in turn, supports the manufacturing sector, which grew by 4.2 per cent, fuelled by non-metallic mineral products, basic metals and fabricated metal products, as well as electrical, electronic, and optical products, which posted 7.1 per cent and 1.9 per cent respectively,' DOSM added. DOSM also reported that Johor is a major contributor to the nation's agricultural output, accounting for 17.3 per cent of Malaysia's Agricultural GDP in 2024. It said that the state's agricultural sector also expanded, rebounding by 4.2 per cent compared to a 1.3 per cent decline the previous year, mainly driven by higher palm oil production. 'This increase also boosted growth of vegetable and animal oils and fats products, as well as food processing, which expanded by 6.7 per cent, providing additional impetus to the overall growth of the manufacturing sector,' it added.
New Straits Times
01-07-2025
- Business
- New Straits Times
Johor records highest GDP growth among states in 2024: DOSM
JOHOR BAHRU: Johor recorded the highest Gross Domestic Product (GDP) growth rate among the states in 2024 at 6.4 per cent, surpassing the national average of 5.1 per cent, according to the Department of Statistics Malaysia (DOSM). In a statement today, the DOSM reported that Johor's GDP is valued at RM158.0 billion in 2024, supported by its strategic location in the southern part of Peninsular Malaysia, modern infrastructure network, major ports, and extensive and competitive industrial zones. In 2023, Johor recorded a growth rate of 4.1 per cent, with its GDP valued at RM148.6 billion. DOSM highlighted that the rapid development of data centres in the state is a key driver of economic growth, particularly in the services, manufacturing, and construction sectors. "The services sector grew by 6.0 per cent, driven by large-scale investments in data centres. "Notable expansions are seen in the finance and insurance subsectors, real estate, and business services, which grew by 8.7 per cent, alongside strong performances in the utilities, transportation and storage, and information and communication technology (ICT) subsectors, which grew by 6.0 per cent," it said. Johor's construction sector surged by 42.7 per cent in 2024, fueled by building and civil engineering projects, including power substations, advanced cooling systems, and high-capacity fibre optic networks. "This development of digital infrastructure, in turn, supports the manufacturing sector, which grew by 4.2 per cent, fuelled by non-metallic mineral products, basic metals and fabricated metal products, as well as electrical, electronic, and optical products, which posted 7.1 per cent and 1.9 per cent respectively," DOSM added. DOSM also reported that Johor is a major contributor to the nation's agricultural output, accounting for 17.3 per cent of Malaysia's Agricultural GDP in 2024. It said that the state's agricultural sector also expanded, rebounding by 4.2 per cent compared to a 1.3 per cent decline the previous year, mainly driven by higher palm oil production. "This increase also boosted growth of vegetable and animal oils and fats products, as well as food processing, which expanded by 6.7 per cent, providing additional impetus to the overall growth of the manufacturing sector," it added.
BusinessToday
01-07-2025
- Business
- BusinessToday
2024 GDP Growth By State, Johor Tops The List For The First Time
Malaysia's economic landscape in 2024 demonstrated an encouraging upward trend, with the Gross Domestic Product (GDP) expanding by a robust 5.1 percent to reach RM1.65 trillion. According to the Department of Statistics, this marks a significant acceleration from the 3.5 percent growth recorded in 2023, primarily propelled by strong performances in the Services and Manufacturing sectors. DOSM said these two sectors contributed a cumulative 82.5 percent to the national GDP value. State Economic Performance Highlights: For the first time, Johor led all states with the highest economic growth rate of 6.4 percent, reaching a GDP value of RM158.0 billion. Its robust performance was fueled by strong growth across Services (6.0%), Manufacturing (4.2%), and an exceptional surge in Construction (42.7%). The Agriculture sector also recovered significantly (4.2%). Selangor remained the primary contributor to the national economy, growing by 6.3 percent to RM432.1 billion, driven by its Services (6.3%) and Manufacturing (5.1%) sectors. W.P. Kuala Lumpur, the second-highest contributor nationally, grew by 6.2 percent to RM265.8 billion, with strong performances in Services (5.5%), Construction (21.1%), and Manufacturing (4.3%). Other states also showed notable growth: Pahang recorded a 5.7 percent growth, surpassing the national average. recorded a 5.7 percent growth, surpassing the national average. W.P. Labuan saw its GDP strengthen by 5.4 percent. saw its GDP strengthen by 5.4 percent. Melaka and Perak both increased by 4.4 percent. and both increased by 4.4 percent. Negeri Sembilan grew by 4.6 percent, and Terengganu by 4.5 percent. grew by 4.6 percent, and by 4.5 percent. Penang posted an increase of 4.8 percent, driven by the recovery in its Manufacturing sector, especially Electrical, electronic & optical products. posted an increase of 4.8 percent, driven by the recovery in its Manufacturing sector, especially Electrical, electronic & optical products. Sarawak's economy grew by 3.9 percent, recovering across most sectors. In terms of prosperity, five states recorded a GDP per capita value exceeding the national average of RM56,734: W.P. Kuala Lumpur (RM136,365), W.P. Labuan (RM87,003), Pulau Pinang (RM76,033), Sarawak (RM73,426), and Selangor (RM65,907). Related
