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Update Malaysia 1Q GDP grew 4.1%; exports fell 36.4%
by Cals Wed 15 May 2013, 22:15
Update Malaysia 1Q GDP grew 4.1%; exports fell 36.4%
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 15 May 2013 17:56
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KUALA LUMPUR (May 15): Malaysia's economy grew 4.1% in the first quarter of 2013 (1Q13) as domestic demand growth mitigated the impact of weaker exports.
Bank Negara Malaysia (BNM) governer Tan Sri Dr Zeti Akhtar Aziz said domestic demand grew 8.2% while net exports fell 36.4%.
"Malaysia's GDP growth will be influenced by external demand in the remaining months of 2013.
"Growth will continue to be driven by robust domestic demand," Zeti told reporters during the announcement of the country's 1Q13 GDP numbers.
On the supply side, the domestic services sector grew 5.9% in 1Q13 while the manufacturing and agriculture industries expanded 0.3% and 6% respectively.
The CONSTRUCTION [] sector was up 14.7% while the mining industry contracted 1.9%.
Looking ahead, Zeti said the country's GDP is expected to grow between 5% to 6% in 2013.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 15 May 2013 17:56
A + / A - / Reset
KUALA LUMPUR (May 15): Malaysia's economy grew 4.1% in the first quarter of 2013 (1Q13) as domestic demand growth mitigated the impact of weaker exports.
Bank Negara Malaysia (BNM) governer Tan Sri Dr Zeti Akhtar Aziz said domestic demand grew 8.2% while net exports fell 36.4%.
"Malaysia's GDP growth will be influenced by external demand in the remaining months of 2013.
"Growth will continue to be driven by robust domestic demand," Zeti told reporters during the announcement of the country's 1Q13 GDP numbers.
On the supply side, the domestic services sector grew 5.9% in 1Q13 while the manufacturing and agriculture industries expanded 0.3% and 6% respectively.
The CONSTRUCTION [] sector was up 14.7% while the mining industry contracted 1.9%.
Looking ahead, Zeti said the country's GDP is expected to grow between 5% to 6% in 2013.
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