Malaysia Records Flood Losses of $171m in 2023

Mon Mar 11 2024
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KUALA LUMPUR: Malaysia recorded losses of 800 million ringgit ($171 million) in 2023 due to flooding, official data revealed Monday.

The Department of Statistics Malaysia (DOSM) said in a statement that the losses equalled 0.04% of nominal gross domestic product (GDP).

The losses, however, were lower as compared to one billion ringgits in 2022, which was about 0.06% of GDP.

According to the DOSM, living quarters losses amounted to 168.3 million ringgit last year, while vehicle losses registered at 22.3 million ringgit.

Losses in Malaysia’s Other Sectors

Meanwhile, losses for manufacturing were registered at 10.3 million ringgit, agriculture at 120.6 million ringgit, business premises at 53.2 million ringgit, and public assets and infrastructure at 380.7 million ringgit.

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