Penang’s GDP and GDP per capita have been growing by 5.7% and 6% respectively over the last five years. Since 2010, Penang outperformed Malaysia in economic growth. The manufacturing and service sectors have been the main contributors to Penang’s GDP over the past five years. In 2015 the service sector accounted for 49.1% of GDP, while 44.7% was from the manufacturing sector (Tables 1 and 2).
Trade The total volume of external trade for Penang has increased by 4.18% (compound annual growth rate, CAGR) over five years reaching RM348mil in 2015. Both exports and imports in Malaysia and Penang have increased since 2010 (Tables 3-5).
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