GEORGE TOWN, Oct 13 (Bernama) — Penang recorded the fifth-highest median monthly household gross income in Malaysia at RM7,386, while the average monthly household gross income stood at RM9,152.
According to the Department of Statistics Malaysia (DOSM) in Penang, findings from the Household Income and Expenditure Survey (HIES) 2024 revealed that 17.7 per cent of households in the state earned below RM4,000, with 15.2 per cent of them in the RM2,000–RM3,999 income group.
“Penang is among the states where income growth outpaced household expenditure growth. From 2022 to 2024, it recorded the highest compound annual growth rate (CAGR) for median income at 6.4 per cent, compared to the national median growth rate of 5.1 per cent.
“Additionally, the overall poverty rate declined to 1.9 per cent last year from 2.0 per cent in 2022. This reflects improving household wellbeing in Penang, driven by various government initiatives and continued investment in the economic and social sectors,” the statement read.
DOSM Penang shared the key HIES 2024 findings during the Penang DOSM Statistics Carnival 2025 held in conjunction with the 9th National Statistics Day and the 4th World Statistics Day. The event was officiated by Penang Deputy State Secretary (Management) Muhamad Ghopran Yeop Hamzah in Bukit Mertajam yesterday.
DOSM also reported that the state’s average monthly household consumption expenditure rose from RM5,322 in 2022 to RM5,850 in 2024, with a CAGR of 4.7 per cent.
The food and beverages group accounted for the highest share of household spending, led by the fish and other seafood subgroup at 24.4 per cent.
The Penang DOSM Statistics Carnival 2025 aims to raise public awareness and understanding of the importance of statistics in daily life and their role in supporting sustainable national development.
The event featured various activities, including a treasure hunt, colouring and drawing contests, a blood donation drive, lucky draws, local artist performances, agency exhibitions, and an interactive Kahoot quiz.
— BERNAMA