Selangor recorded its highest-ever gross domestic product (GDP) of RM432.1 billion in 2024, solidifying its position as the top-performing state economy in Malaysia. This marks a notable increase from the RM406.1 billion registered in 2023, with the state remaining the only one to surpass the RM400 billion threshold for two consecutive years.
According to Invest Selangor, the state’s contribution to Malaysia’s overall GDP rose to 26.2% last year, compared to 25.9% in 2023, reflecting its growing role as a key economic engine within the nation.
Selangor’s GDP growth outpaced the national average, posting a year-on-year expansion of 6.3%, ahead of Malaysia’s overall growth rate of 5.1%. The services sector emerged as the primary driver of this performance, contributing RM263.9 billion, or 61.1% of the state’s total GDP. This sector also registered a 6.3% increase compared to the previous year.
The manufacturing sector ranked as the second-largest contributor, accounting for 29.1% of the state’s GDP. Key subsectors fuelling this growth included electrical and electronics, vegetable and animal oils and fats, food processing, beverages, and transport equipment.
Invest Selangor Chief Executive Officer Hasan Azhari Idris attributed the state’s economic success to strategic, long-term planning and targeted efforts to attract high-quality investments across growth-oriented industries.
“At Invest Selangor, we are focussed on facilitating sustainable, innovation-driven investment while enhancing Selangor’s global competitiveness,” Hasan said.
-FMT
