KUALA LUMPUR: Malaysias economy recorded a value of RM1.157tril in 2015 compared to RM1.106tril registered in 2014, said the Department of Statistics. Gross Operating Surplus (GOS) held the largest share in income components at 60.5% while Compensation of Employees contributed 34.8% to Malaysias economy, it said.
“The remaining 4.7% was contributed by Taxes less Subsidies on Production and Imports,” the department said in a statement on Friday.
The overall economy recorded a growth of 4.6% in 2015 supported by the positive performance in services, manufacturing and construction sectors. Compensation of Employees grew 6.2% compared with 9.7% in the previous year while GOS slowed to 0.9%t (2014: 6.4%).
Conversely, Taxes less Subsidies on Production and Imports escalated to 62.4% contributed by the rationalisation of subsidy and implementation of Goods and Services Tax in 2015.
As the prime mover of the economy, the services sector contributed the largest share to the total compensation of employees at 60.6% while share of the manufacturing sector accounted for 23.1% in 2015.
Compensation of Employees recorded a growth of 6.2% largely impelled by the services and manufacturing sectors.
Construction sector remained its stronghold in 2015 by registering a double-digit growth of 11.5% (2014: 14.8%).
