In recent years, Penang’s robust economic performance, bolstered by immense foreign investment and its manufacturing and service sectors, is an encouraging sign for its people. The progress of the state is also marked by the advancement its people have made in improving their socio-economic status and living standards.
Penang’s median monthly household income registered an annual growth rate of 7.1%, from RM2,902 in 2007 to RM4,702 in 2014 (Figure1). Penang has also outperformed Malaysia in terms of median monthly household income from 2007-2014.
The level of growth is also reflected in the upward shift in income brackets by Penang’s households.
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