The 598,635 road accidents recorded in 2023 has cost Malaysia RM25 bil in terms of economic value – Loke

The 598,635 road accidents recorded in 2023 has cost Malaysia RM25 bil in terms of economic value – Loke

If you think that Malaysians aren’t careful drivers, you’re right, because statistics show that. In 2023, a total of 598,635 road accidents were recorded in the country, nearly 10% up from the 545,585 cases in 2022. Last year’s numbers also surpass the previous eight-year peak of 567,516 road accidents recorded in 2019, before the Covid-19 pandemic began.

Each accident brings about losses, and not just directly from a material viewpoint, because there is also an economic impact that comes about when a mishap causes serious injuries or fatalities. In terms of economic value, at least RM25 billion was lost as a result of last year’s accidents, The Star reports.

This was the sum revealed by transport minister Anthony Loke in his parliamentary reply to Pang Hok Liong (PH-Labis), who asked about the financial losses incurred as a result of road accidents and the steps being taken by the ministry to address the mounting accident rate.

The 598,635 road accidents recorded in 2023 has cost Malaysia RM25 bil in terms of economic value – Loke

“The total losses experienced by the country are calculated based on the number of deaths and serious injuries caused by road accidents. The estimated monetary value of each death or serious injury is calculated using methods employed by the International Road Assessment Programme (iRAP). This takes into account all involved victims’ possible contributions to the gross domestic product (GDP) should the accident not have occurred,” Loke said in his reply.

The figures take into account the loss of an individual who is competent at their workplace, is a core member of their family or household, as well as in terms of their monetary contribution to society. In the case of last year’s projection, he said this represents a more than 35% increase in annual economic losses due to road accidents compared to the RM18 billion lost in 2010. To address this, Loke said the ministry was putting in place some measures aimed at reducing the accident rate.

One of these is regulating the speed limit in certain areas. He said that both his ministry and the works ministry are exploring the possibility of codifying the existing 30 km/h speed limit guidelines near school areas commonly used by local authorities into a law that would make it compulsory for all to follow.

The 598,635 road accidents recorded in 2023 has cost Malaysia RM25 bil in terms of economic value – Loke

He added that more speed cameras would also be placed in areas where accidents regularly occur. “As of June 12, an automatic safety awareness system (AWAS) camera has been installed on the northbound side of the Menora Tunnel on the North-South Expressway, a hotspot for accidents. An AWAS camera for the southbound side of the tunnel is expected to have begun operating from July 1,” he said.

“We are also continuing to work alongside the housing and local government ministry to push for more transit-oriented development, which aims to reduce Malaysians’ dependence on owning personal vehicles to meet their mobility needs,” he added.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • So going to have another measurement to cut the economic losses?

    Like or Dislike: Thumb up 7 Thumb down 1
    • Safety First on Jul 15, 2024 at 8:44 am

      So what Loke is doing? Oh wait, sell more number plates.

      Like or Dislike: Thumb up 5 Thumb down 1
  • If you fucking do your job, Malaysia will have better public transport like Singapore instead of everyone have to drive themselves to anywhere.

    Like or Dislike: Thumb up 25 Thumb down 6
  • Ajibkor paying higher price for Starbucks machiatto on Jul 12, 2024 at 8:49 pm

    Ahlokekor…better go IJN for full medical check.
    At parliament…good thing medical team didnt spring into action..like how the junior Chinese badminton player collapsed.
    Maybe doing too many undercover stints and launching fanciful number plates is too stressing.
    Rakyat took time off to vote for healthy menteris.Menteris have to do their part,by living a healthy lifestyle.

    Like or Dislike: Thumb up 2 Thumb down 1
  • cager on Jul 12, 2024 at 10:18 pm

    Many crazy drivers are on the road, should make driving test stricter. Maybe just treat driving license like a license to operate heavy machinery that could put peoples life in danger.

    Like or Dislike: Thumb up 21 Thumb down 0
  • quit talking, talking, talking and just enforce all the rules pertaining to traffic and ensure corruption by enforcement officials are curtailed and you will see a steep steep drop in all these traffic accidents.

    stop being a drama queen n virtual signal with all these useless speeches.

    do your job !!

    Like or Dislike: Thumb up 9 Thumb down 0
  • bring in Baidu’s 5-8 seater Robotaxi for our Rakyat’s investment.

    bring in China’s Autonomous Truck that range from 39,000 RMB to 80,000 RMB too.

    are you ready?

    Like or Dislike: Thumb up 1 Thumb down 1
  • anwar menang, DAP kencingkan rakyat on Jul 13, 2024 at 10:04 am

    Where is the data analysis of these accidents
    1. Got license or not
    2. Age of driver
    3. Time of accident
    4. Age of car
    5. Is drivers age fit to drive these powerful cars
    6. Speeding or not

    Like or Dislike: Thumb up 3 Thumb down 1
  • Pro-Palestine on Jul 13, 2024 at 10:05 am

    Most accident in Malaysia happen because many are poor but mau gaya. Tak ada duit beli tayar baru. Tayar botak tapi mau pandu laju to relieve stress.

    Like or Dislike: Thumb up 4 Thumb down 1
  • Pro-Palestine on Jul 13, 2024 at 10:07 am

    If menteri really cars about its people, they should make tire cheap in Malaysia. This will save thousands of lives every year. If people can afford to change tire regularly instead of pakai tayar botak, very less lethal accident will happen

    Like or Dislike: Thumb up 3 Thumb down 1
  • Close down Perodua, next year immediate drop 50% road accident cases.

    Like or Dislike: Thumb up 2 Thumb down 0
  • corrupt leaders corrupt society. guess you didn’t visit driving schools. how lousy they are. driving learner not properly taught and placed into sure pass test. i feel nervous when i saw so many car with P license on the road

    Like or Dislike: Thumb up 2 Thumb down 0
  • karpal_sinking on Jul 16, 2024 at 12:51 pm

    can we know how many road accidents caused by drunk driving / drug related?

    Like or Dislike: Thumb up 0 Thumb down 0
 

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