Malaysia GDP Expands 6.4 Percent in Q4 of 2012


The Malaysian economy grew 6.4 percent year-over-year in the fourth quarter of 2012, compared to 5.3 percent in the preceding quarter.

On the supply side, all sectors registered positive growth except Mining and Quarrying sector. The main contributors were the Services, Manufacturing and Construction sectors.

Meanwhile, the Gross Fixed Capital Formation (GFCF) and Private Final Consumption Expenditure continued to be the main drivers on the demand side.
 
Final Consumption Expenditure posted 7.3 per cent of growth from 9.2 per cent in second quarter of 2012. Private Final Consumption Expenditure grew at a slower pace of 8.5 per cent due to moderation in spending on semi-durable and durable goods. However, the consumption on food & beverages and transport & communication services rose in line with the festive season. Besides, expenditure related to interest payment and insurance also increased.
 
Government Final Consumption Expenditure eased to 2.3 per cent from 10.9 per cent in the last quarter. A slower momentum in this quarter was due to the decline of expenditure particularly on supply and services.
 
The Gross Fixed Capital Formation continued to strengthen at 22.7 per cent boosted by the expenditure on Structure, Machinery & Equipment and Transport. Private sector with a share of 60 per cent drove the GFCF by registering a growth of 22.9 per cent. Meanwhile, the Public sector grew by 22.4 per cent.
 
Exports declined to 3.0 per cent attributed by lower growth for the products of Machinery & Transport Equipment, Animal & Vegetable Oils & Fats and Manufactured Goods.
 
Meanwhile, the increase in Imports of 4.4 per cent was driven by higher imports of Machinery & Transport Equipment, Mineral Fuel & Lubricants and Manufactured Goods.

Department of Statistics, Malaysia | Nuno Salva | nuno.salva@tradingeconomics.com
2/20/2013 10:29:20 AM