XINHUA – Malaysia recorded overall flood-related losses of myr933.4 million (USD210.58 million) in 2024, up from MYR755.4 million in 2023, official data showed recently.
The Department of Statistics Malaysia (DOSM) said in a statement that the flood-related losses were equivalent to 0.05 per cent of the nominal gross domestic product (GDP) last year, compared to 0.04 per cent in the previous year.
The reported losses include the value of damage to living quarters, vehicles, businesses and industrial premises. The highest losses were recorded in living quarters, surging to MYR372.2 million in 2024 from MYR168.3 million in 2023, followed by public assets and infrastructure at MYR303.4 million, down from MYR380.7 million in 2023.
Meanwhile, the agriculture sector’s losses increased to MYR185.2 million, up from MYR120.6 million in 2023.
Business premises recorded MYR54.1 million losses, climbing from MYR53.2 million in 2023.
Vehicle damages, on the other hand, amounted to MYR17.3 million, down from MYR22.3 million in 2023.
The manufacturing sector experienced the lowest impact at MYR1.2 million, falling from MYR10.3 million in 2023.
“Moving forward, reinforcing adaptive infrastructure, improving flood defences and optimising resource allocation will be key to safeguarding long-term economic resilience and stability,” said the DOSM.
