Malaysia lost RM622.4 million due to floods last year

KUALA LUMPUR: Malaysia recorded RM622.4 million in losses due to floods in 2022, which is equivalent to 0.03 percent against the nominal Gross Domestic Product (GDP), according to the Department of Statistics (DOSM).

DOSM, in a statement regarding its Special Report on the Impact of Floods in Malaysia 2022 released today said the amount is in comparison to the RM6.1 billion in flood losses suffered by the country in 2021.

The study is aimed to evaluate the total loss and damage due to the flood that hit Malaysia in 2022 which includes the value of the damage to public assets and infrastructure, living quarters, vehicles, businesses, and industrial premises.

Out of the RM622.4 million losses last year, public assets and infrastructure constituted RM232.7 million of the losses, followed by living quarters (RM157.4 million), agriculture (RM154.5 million), business premises (RM50.3 million), vehicles (RM18.8 million), and manufacturing (RM8.7 million).

In terms of living quarters, Terengganu recorded the highest losses of RM84.2 million, followed by Kelantan with RM44.4 million and Kedah with RM15.3 million, while for vehicles, the three states that recorded the highest losses were Kedah (RM11.5 million), Terengganu (RM3.4 million) and Kelantan (RM2. million).

As for the manufacturing sector, Terengganu recorded the highest losses with RM7.1 million, followed by Kelantan RM1.2 million, and Sabah RM0.3 million.

Besides that, Terengganu was the highest state that recorded business premises losses, amounting to RM25.3 million, followed by Kelantan with RM18.3 million, and Kedah (RM2.8 million).

The coverage of the assessment for the Special Report on the Impact of Floods in Malaysia 2022 was conducted from Jan 8 to Dec 31, 2022, involving all states except Labuan and Putrajaya. – Bernama