Wednesday, October 19, 2011

State By State GDP: 2010 [Updated]

[UPDATE: The original charts didn’t come out as large as they should have. I’ve amended the pics so they’ll come out bigger now. Just click on the pics to get the larger chart.]

The numbers for state GDP for 2008-2010 have been released by the Department of Statistics. We’ve now got about 6 years worth of data (2005-2010), which gives you a better sense of where each state stands.

I’ve summarised the data in three charts (click on the charts to look at a bigger version). The following are the levels (real GDP; RM millions; 2000=100):

01_gdp

…and the GDP growth rates (log annual change; 2000=100):

02_gdp_gr

You’ll see that the impact of the 2008-2009 recession was quite different across states. In KL, Sabah, Kelantan and Negeri Sembilan the recession barely registered, while Labuan and Penang were absolutely hammered. Labuan in fact endured a two year recession with the biggest impact in 2008 – a reflection of its role as an offshore financial centre.

It’s interesting to see the differences in behaviour between the GDP levels above, and GDP per capita (nominal GDP; RM):

03_gdp_capita

Compare the different experiences of Kedah and Perak against Penang for instance during and post-recession. In Kedah (and to a lesser extent Perak), GDP continued to grow at a slower pace in 2009, but GDP per capita actually dropped. The near opposite happened in Penang – GDP per capita grew more strongly compared to GDP. My interpretation – people working in Penang went home after losing their jobs, a case of urban to rural migration, and then returned as the economy recovered.

Technical Notes:

GDP by State 2010 from the Department of Statistics

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