Homepage |
首页 新闻动态 法律服务 数据服务 项目服务 投资环境 投资服务机构 经济开发区
Macro-Economy | Business Economy | Industrial Economy | Regional Economy

Home >News >Full article
Search
Malaysia's economy grows 4.4 pct in Q3
2018/11/19 15:52:07 Source:Xinhua

KUALA LUMPUR, Nov. 16 (Xinhua) -- Malaysia's economy rose 4.4 percent in the third quarter, as private consumption expanded strongly following the rolling-back of Goods and Services Tax (GST) during the quarter, central bank said Friday.
Malaysian Central Bank's governor Nor Shamsiah Mohd Yunus said in a statement Friday that the country is on track to register a growth of 4.8 percent this year as it grew by 4.7 percent in the first three quarters.
Strong consumer spending, business and consumer sentiments, expansion in manufacturing production capacity will continue to support the growth this year, but prolonged disruptions in commodity production will weigh on the growth, she added.
Private sector activity continued to be the primary driver of growth in the third quarter, with household spending surged 9 percent year-on-year, private investment increased by 6.9 percent.
On the supply side, services and manufacturing grew 7.2 percent and 5 percent respectively; the construction sector also expanded by 4.6 percent.
The mining and agriculture sectors, however, contracted 4.6 percent and 1.4 percent respectively, dragged by production disruption.
Meanwhile, gross exports grew 5.2 percent, as higher electrical and electronics (E&E) exports mitigated the decline in commodity exports.
Going forward, export growth will remain supported by continued demand from major trade partners, higher production capacity especially for E&E, recovery of commodity output, said Nor Shamsiah.
She expects the country's current account to remain in surplus going forward, supported by global demand and commodity exports.
In the first three quarters, Malaysia's current account registered a cumulative surplus of 22.7 billion ringgit (5.41 billion U.S. dollars).

Print Collection Close
 Related News More>>
 Site Map | About Us | Services | Links | Statement

Ministry of Commerce of the People's Republic of China Department of Foreign Investment Administration

Operated by Investment Promotion Agency of MOFCOM

Tel:  (86-10) 64404554

Copyright by Invest in China

Fax: (86-10) 64515317

ICP Record No.: Beijing ICP 06041048-4 E-mail: service@fdi.gov.cn