KUALA LUMPUR, June 20 ― The Department of Statistics Malaysia’s Economic Census Report 2016 would be the new benchmark to update the economic structure and relay the foundations for gross domestic product (GDP), service index and other relevant economy indicators.
Minister in the Prime Ministers Department, Datuk Seri Abdul Rahman Dahlan, said the new economy indicator would be used to measure various macro and micro economic targets as underlined in the government’s agendas.
“The census was important to identify the country’s latest economic structure, state profiles, revenue components and industries leading the economy. It also identifies potential new industries.
“The information would help the government formulate policies suitable to support those industries,” he said.
The text of his speech was read by Chief Statistician Dr Mohd Uzir Mahidin.
Abdul Rahman said Malaysia’s economy was on the right track based on all the indicators.
He referred to the 5.6 per cent GDP growth recorded in the first quarter 2017 against 4.5 per cent recorded in the same period in the previous year.
The census report also revealed the national output to be RM2.5 trillion with seven per cent growth rate annually compared to RM1.7 trillion in 2010, he said.
Women’s involvement in business was on increasing and in 2015 there were 187,264 companies registered under women entrepreneurs compared to 127,422 in 2010. ― Bernama