Penang’s gold export contribution demonstrates its economic strength

Penang’s role in supplying 80% of the nation’s gold exports demonstrates the state’s significant economic strength, said Deputy Finance Minister Lim Hui Ying.

“Penang, as the hub of Malaysia’s gold and jewellery sector, proudly contributes 80% of the country’s gold exports. 

“This not only highlights Penang’s strength but also underscores Malaysia’s significant position in the global gold and jewellery market,” she said via a Facebook post. 

She said MATRADE revealed that Malaysia’s jewellery trade totalled RM5.57 billion from January to April 2024. 

This marked an impressive 33.5% increase compared to the same period last year, she added. 

“This growth is a testament to the country’s robust economic progress,” she said. 

She said every industry plays a crucial role in the nation’s development journey.

“Whether it is gold and jewellery, manufacturing, or services, progress in all areas can only be achieved through collective effort. 

“I look forward to seeing more innovation and contributions from all sectors, driving Malaysia towards prosperity and advancement,” she said.