Malaysia’s domestic gross product (GDP) expanded by 6.4 percent in the second quarter of 2014, fuelled by stronger exports and robust domestic demand, announced the Central Bank of Malaysia.
The bank’s Governor Zeti Akhtar Aziz said GDP hit 262.8 billion RM (over 83 billion USD) over the period, picking up 4.5 percent from a year before.
Between April and June, the country’s exports picked up 8.8 percent while imports saw a 3.9 percent increase, resulting in a trade surplus of 18.4 billion RM, down 43 percent quarter on quarter.
Exports and private sector activity were said to remain the key drivers of growth during the second quarter with private investment, especially in the services and manufacturing sectors, surged by 12.1 percent.
The central bank forecast Malaysia’s annual GDP growth rate will top 5.5 percent, backed by a 6.3 percent pace in the first half.
Earlier, the bank projected GDP growth at 4.5 – 5.5 percent this year.-VNA
The bank’s Governor Zeti Akhtar Aziz said GDP hit 262.8 billion RM (over 83 billion USD) over the period, picking up 4.5 percent from a year before.
Between April and June, the country’s exports picked up 8.8 percent while imports saw a 3.9 percent increase, resulting in a trade surplus of 18.4 billion RM, down 43 percent quarter on quarter.
Exports and private sector activity were said to remain the key drivers of growth during the second quarter with private investment, especially in the services and manufacturing sectors, surged by 12.1 percent.
The central bank forecast Malaysia’s annual GDP growth rate will top 5.5 percent, backed by a 6.3 percent pace in the first half.
Earlier, the bank projected GDP growth at 4.5 – 5.5 percent this year.-VNA
