SELANGOR ACHIEVES RECORD-HIGH GDP OF RM432.1 BILLION IN 2024, LEADING MALAYSIA’S ECONOMIC GROWTH

^{Infographic: Selangor Leads with Highest GDP Contribution in 2024}


SHAH ALAM, July 10 (Bernama) -- Selangor continued to cement its position as Malaysia’s economic powerhouse, recording a historic Gross Domestic Product (GDP) of RM432.1 billion in 2024, the highest among all states. This milestone marks a significant leap from RM406.1 billion in 2023, making Selangor the first and only state to cross the RM400 billion threshold for the two-year running.
 
This outstanding performance reaffirms Selangor’s role as the leading contributor to the national economy, accounting for a stellar 26.2% of Malaysia’s total GDP, an increase from 25.9% in the previous year.
 
Selangor’s economic resilience and upward momentum are further evidenced by a robust year-on-year GDP growth rate of 6.3%, outperforming the national average of 5.1%. This achievement reflects the state’s strong economic fundamentals, sustained investor confidence and strategic efforts by the state to drive high-impact, inclusive and sustainable growth.
 
Selangor continues to chart the way forward, contributing an impressive 32.9% to Malaysia’s total manufacturing output and reaffirming its position as the nation’s leading industrial powerhouse. Selangor also leads in the services sector, contributing 26.9% to Malaysia’s overall performance in this segment.
 
The services sector is the largest contributor to Selangor’s GDP, accounting for 61.1% and growing by 6.3% to reach RM263.9 billion. This growth is supported by subsectors such as wholesale and retail trade, food & beverages and accommodation, utilities, transportation & storage and information & communications, finance and insurance services, real estate and business services.
 
The second-largest contributor is the manufacturing sector which accounts for 29.1% and recorded a growth of 5.1% driven by subsectors such as electrical & electronics, vegetable & animal oils and fats, food processing, beverages and transport equipment.

“Our continued progress is a reflection of the collective commitment and hard work of all stakeholders  from the public and private sectors to civil society and the rakyat. Together, we have built a thriving ecosystem that not only attracts investment, but also creates quality jobs and uplifts communities,” said YAB Dato’ Seri Amirudin Shari, the Chief Minister of Selangor.

The state's diverse economy saw significant contributions from the services, manufacturing, and primary sectors, further strengthening its appeal as an attractive top-tier investment destination with future-ready infrastructure and a highly skilled workforce.

Looking ahead, Selangor will continue to champion regional economic leadership through business platforms such as the Selangor International Business Summit (SIBS) 2025, taking place from 8 to 11 October 2025 at the Kuala Lumpur Convention Centre (KLCC). Now in its 9th edition, SIBS has become one of Southeast Asia’s premier trade and investment events, fostering business interaction and matching, knowledge exchange and global partnerships.

“Selangor’s impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries,” said Dato’ Hasan Azhari Idris, Chief Executive Officer of Invest Selangor Berhad.

“At Invest Selangor, we are focused on facilitating sustainable, innovation-driven investment while enhancing Selangor’s global competitiveness. This October, SIBS 2025 will once again serve as a powerful platform to showcase Selangor’s economic strengths and connect investors with real opportunities.”

As Selangor continues to chart a progressive path forward, the state remains committed to collaborative, data-driven, and innovation-led strategies that will build a resilient, inclusive and high-performing economy for all.

About Invest Selangor

Invest Selangor Berhad is the Selangor State Government’s investment promotion agency, facilitating business growth and investment opportunities in Malaysia’s most developed and competitive state. As a one-stop center, it provides advisory services, market insights, and facilitation for local and international investors looking to establish or expand in Selangor—the gateway to ASEAN.

With a strategic location, world-class infrastructure, and a thriving business ecosystem, Selangor continues to attract high-value investments across diverse industries, reinforcing its position as Malaysia’s economic powerhouse. Since 1999, Invest Selangor has successfully facilitated over 6,730 manufacturing projects, contributing to the creation of 489,464 jobs and securing more than RM237.7 billion in investments.

For more information, visit www.investselangor.my.

SOURCE: Invest Selangor

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Nur Azyyana Abu Bakar
Email: azyyana@investselangor.my
 
Name: Maryani Binti Mat Saad
Email: maryani@investselangor.my

--BERNAMA