11-3-2024 (KUALA LUMPUR) Official data released on Monday by the Department of Statistics Malaysia (DOSM) reveals that Malaysia incurred losses of 800 million ringgit (171 million U.S. dollars) in 2023 as a result of flooding, marking 0.04 percent of the nominal gross domestic product (GDP).
While the financial toll is significant, it represents a decrease from the 1 billion ringgit recorded in 2022, constituting about 0.06 percent of GDP.
Breaking down the losses for 2023, the DOSM reports that living quarters accounted for 168.3 million ringgit in damages, with vehicle losses standing at 22.3 million ringgit. Additionally, manufacturing suffered losses of 10.3 million ringgit, business premises faced a setback of 53.2 million ringgit, agriculture recorded losses of 120.6 million ringgit, and public assets and infrastructure were impacted to the tune of 380.7 million ringgit.
