Malaysia’s economy picks up 5 percent in 2015
Malaysia’s economic growth was recorded at 5 percent in 2015 compared to 6 percent in 2014, according to Malaysian Department of Statistics.
A shopping mall in Malaysia (Photo: AFP/VNA)Kuala Lumpur (VNA) – Malaysia’s economic growth was recorded at 5 percent in 2015 compared to 6 percent in 2014, according to Malaysian Department of Statistics.
The country’s economy grew 5.6 percent in Quarter I, 4.9 percent in Quarter II, 4.7 percent in Quarter III and 4.5 percent in Quarter IV last year.
Bank Negara Malaysia, the country's central bank, said that the fourth quarter’s gross domestic product (GDP) growth was propped up by improving private consumption, which grew 4.9 percent in the period as against 4.1 percent in the quarter before.
In Quarter IV, private investment went up 5 percent while public investment rose 0.4 percent. Meanwhile, the service sector’s growth was consolidated by relevant consuming and trading activities and the construction sector was supported by civil building and residential area construction.
Chairman of Ambank Group Azman Hashim said that GDP growth of 5 percent for the full year 2015 is significant amid falling oil prices and an unstable global economy.-VNA
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