Rescuers evacuate people from a flooded area in Shah Alam city, Selangor state, Malaysia. Photo: Xinhua/VNA
Flood-related losses were equivalent to 0.05% of gross domestic product (GDP) last year, compared with 0.04% in 2023, DOSM said in a statement.
The reported losses include the value of damage to homes, vehicles, businesses and industrial facilities.
The highest losses were recorded in residential areas in 2024 at RM372.2 million compared to RM168.3 million in 2023, followed by public assets and infrastructure at RM303.4 million, down from RM380.7 million in 2023.
Meanwhile, losses in the agriculture sector increased to RM185.2 million, up from RM120.6 million in 2023.
Business establishments recorded losses of RM54.1 million, up from RM53.2 million in 2023.
On the other hand, losses in vehicles amounted to RM17.3 million, down from RM22.3 million in 2023.
The manufacturing sector was the least affected, at RM1.2 million, down from 10.3 billion ringgit by 2023.
“Strengthening infrastructure for adaptation, improving flood protection and optimising resource allocation will be key to safeguarding long-term economic resilience and stability,” DOSM said.