Malaysia’s GDP rises more than expected in Q4
The data showed that the country’s GDP increased by 4.5% year-on-year in Q4 after climbing by 4.3% in Q3 and slightly beat the economists’ estimates of a rise of 4.4%. This was the second month in a row that the country posted a quarterly growth.
The largest contribution to the growth came from the service sector which grew by 5.5%. This was followed by a growth in the mining and quarrying by 4.9%. However, the growth in agriculture was down by 2.4%. In terms of expenditure, private consumption was up by 6.2%.
The country’s GDP was also up by 1.4% quarter-on-quarter.
In addition, Malaysia’s trade surplus reached MYR12.2 billion in Q4 from MYR 6 billion in Q3, the data showed.
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