Malaysia’s Household Income Increases at Slow Rate in 2022

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Malaysia’s monthly median household income for 2022 posted a minor growth of 2.5 percent to reach 6,338 ringgit (1,395 U.S. dollars), as compared to 3.9 percent in 2019, official data showed Friday.

The Department of Statistics Malaysia (DOSM) said in a statement that the median income increased by 2.5 percent annually in 2022, while the mean income rose by 2.4 percent as compared to 4.2 percent in 2019.

According to the DOSM, the median household income in urban areas recorded an increase of 3.3 percent from 6,561 ringgit in 2019 to 7,243 ringgit in 2022.

Similarly, median household income in rural areas increased at a rate of 2.2 percent from 3,828 ringgit to 4,094 ringgit.

Meanwhile, mean household income in urban areas recorded a growth of 2.9 percent from 8,635 ringgit in 2019 to 9,428 ringgit in 2022.

In rural areas, the mean household income was 5,147 ringgit in 2022 as compared to 5,004 ringgit in 2019 with a growth rate of 0.9 percent. (1 ringgit equals 0.22 U.S. dollar)