Statistics Dept: Malaysia’s economy grew 4.7pc in 2018, GDP value RM1.23t

According to the Statistics Department, Malaysia recorded a better performance in the fourth quarter (Q4) with a growth of 4.7 per cent after the moderation of two consecutive quarters in 2018. ― Picture by Choo Choy May
According to the Statistics Department, Malaysia recorded a better performance in the fourth quarter (Q4) with a growth of 4.7 per cent after the moderation of two consecutive quarters in 2018. ― Picture by Choo Choy May

KUALA LUMPUR, Feb 14 ― Malaysia’s economy grew at 4.7 per cent in 2018 with a gross domestic product (GDP) value of RM1.23 trillion at constant prices and RM1.43 trillion at current prices, according to the Statistics Department.

Chief Statistician of Malaysia, Datuk Seri Dr Mohd Uzir Mahidin said the country recorded a better performance in the fourth quarter (Q4) with a growth of 4.7 per cent after the moderation of two consecutive quarters in 2018.

“All key sectors recorded positive growth except for agriculture with favourable performance mainly contributed by services and manufacturing sectors whereas mining and quarrying rebounded in this quarter,” he said in a statement today.

He also said that growth of demand was led by private final consumption expenditure and net exports.

Mohd Uzir informed that the private final consumption expenditure (PFCE) expanded 8.5 per cent, driven by consumptions on food and non-alcoholic beverages, communications, restaurants & hotels and transport. ― Bernama

Related Articles