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  HOME | Business & Economy (Click here for more)

Malaysia's First Quarter GDP Growth Fastest in Two Years

BANGKOK - The Malaysian economy grew by 5.6 percent in the first quarter of 2017 as compared to the same period in 2016, the fastest rate of growth in two years, the Bank Negara Malaysia (Malaysia's Central Bank) said on Friday.

The growth is "powered by strong domestic demand, higher exports and a rise in manufacturing activity," the monetary authorities said in a statement.

The agricultural sector grew 5.8 percent, construction grew 6.5 percent, services 5.8 percent, manufacturing 5.6 percent and mining 1.6 percent.

Additionally, both imports and exports went up, by 9.8 and 12.9 percent respectively.

The country's Gross Domestic Product had recorded 4.2 percent growth in 2016, and it is estimated it will grow 4.4 percent in 2017 and 4.6 percent in 2018.

However, Friday's figures could lead to an increase in the estimated GDP growth rate.
 

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