Gross Domestic Product
In 2018 Penang registered a gross domestic product (GDP) of RM91.2bil, with a year-on-year (y-o-y) growth rate of 5.1%, which is 0.4% higher than the national rate of 4.7%. The state continued to contribute 6.7% to the national GDP (Table 1).
In terms of economic activity, the services and manufacturing sectors respectively showed positive growth rates of 5.8% and 5.5% annually from 2015-2018. Though the mining and quarrying sector contributed only 0.2% to the state’s GDP, it has expanded significantly to 6.7% over the last four years – the highest growth rate among all economic sectors. On the other hand, the agriculture and construction sectors shrunk moderately by 1.9% and 1.6% per annum respectively (Table 1).
