Malaysia recorded an economic growth rate of 4.7 percent in 2018 (Photo: propertyhunter.com.my) KualaLumpur (VNA) – Malaysia posteda gross domestic product (GDP) growth of 4.7 percent in the fourth quarter (Q4)of last year, leading to an overall economic growth of 4.7 percent in 2018, Bernamanews agency reported, citing Bank Negara Malaysia (BNM)’s announcement.
According to thenews agency, the growth was slower than the 5.9 percent recorded in 2017.
In 2018, theeconomy grew 5.4 percent in the Q1, 4.5 percent in Q2 and 4.4 percent in Q3.
BNM Governor DatukNor Shamsiah Mohd Yunus wasquoted as saying at a press conference that the 4.7 percent growth in theeconomy last year was supported by resilient private sector activities amidtemporary supply disruptions.
In the Q4, privatesector activity remained the main driver of growth, while a rebound in exportsof goods and services contributed towards the positive growth of net exports.
On the supply side,major sectors continued to expand.
Bernama also citeda statement by BNM which said the services sector was supported by continuedstrength in consumer spending, particularly in the retail segment, while growthin the manufacturing sector remained driven by the electronics and electrical(E&E) and consumer-related clusters.
Commodities-relatedsectors continued to recover from production disruptions experienced since theQ2, with higher growth in the mining and agricultural sectors.-VNA
VNA
