Malaysia's economy grew 5.1 percent in the fourth quarter of 2013, whichwas above economists' expectations of 4.8 percent, supported by privatesector demand and higher exports.
In a statement issued on Feb.12, the Bank Negara Malaysia (BNM) said on a year-on-year basis, theeconomy grew at a slower pace when compared to the 6.5 percent growthrecorded in the same period previous year.
The economy in the first, second and third quarters expanded by 4.1 percent, 4.4 percent and 5.0 percent, respectively.
For the whole year of 2013, the Malaysian economy grew by 4.7 percent compared with 5.6 percent in 2012.
Accordingto the BNM, growth in fourth quarter was supported by the majoreconomic sectors. The services sector, which accounts for more than halfof the GDP, expanded by 6.4 percent.
The manufacturing sector,which accounts for nearly 25 percent of the economy, expanded at aslower pace of 5.1 percent, supported by higher growth in both export-and domestic-oriented industries.
The BNM said the constructionsector recorded slower growth of 9.7 percent, a decline from a year ago.Meanwhile, the commodities sector weakened, due to lower production ofrubber, palm oil and crude oil.
The agriculture sector recorded slower growth of 0.2 percent in the fourth quarter while mining shrank 1.5 percent.
Oninflation rate, the central bank said, the inflation rate in the fourthquarter increased to 3.0 percent, largely reflecting the upwardadjustments to prices of petroleum products and sugar, and the increasein excise duty on tobacco.
Also in the reviewed quarter, tradesurplus widened to 27.4 billion RM (8.4 billion USD) while the country'scurrent account surplus rose to 16.2 billion RM (4.95 billion USD),from 9.8 billion RM in the earlier three months.
For the whole of2013, the country's current account recorded a 37.3 billion RM (11.4billion USD) surplus, down from 57.3 billion RM in 2012.
Oninternational reserves, the central bank said the international reserveswith the Bank Negara amounted to 441.7 billion RM (equivalent to 134.9billion USD) and this reserves level took into account the quarterlyforeign exchange revaluation adjustments.
The central bank forecast that Malaysia's GDP growth would be between 5.0-5.5 percent for 2014.-VNA
In a statement issued on Feb.12, the Bank Negara Malaysia (BNM) said on a year-on-year basis, theeconomy grew at a slower pace when compared to the 6.5 percent growthrecorded in the same period previous year.
The economy in the first, second and third quarters expanded by 4.1 percent, 4.4 percent and 5.0 percent, respectively.
For the whole year of 2013, the Malaysian economy grew by 4.7 percent compared with 5.6 percent in 2012.
Accordingto the BNM, growth in fourth quarter was supported by the majoreconomic sectors. The services sector, which accounts for more than halfof the GDP, expanded by 6.4 percent.
The manufacturing sector,which accounts for nearly 25 percent of the economy, expanded at aslower pace of 5.1 percent, supported by higher growth in both export-and domestic-oriented industries.
The BNM said the constructionsector recorded slower growth of 9.7 percent, a decline from a year ago.Meanwhile, the commodities sector weakened, due to lower production ofrubber, palm oil and crude oil.
The agriculture sector recorded slower growth of 0.2 percent in the fourth quarter while mining shrank 1.5 percent.
Oninflation rate, the central bank said, the inflation rate in the fourthquarter increased to 3.0 percent, largely reflecting the upwardadjustments to prices of petroleum products and sugar, and the increasein excise duty on tobacco.
Also in the reviewed quarter, tradesurplus widened to 27.4 billion RM (8.4 billion USD) while the country'scurrent account surplus rose to 16.2 billion RM (4.95 billion USD),from 9.8 billion RM in the earlier three months.
For the whole of2013, the country's current account recorded a 37.3 billion RM (11.4billion USD) surplus, down from 57.3 billion RM in 2012.
Oninternational reserves, the central bank said the international reserveswith the Bank Negara amounted to 441.7 billion RM (equivalent to 134.9billion USD) and this reserves level took into account the quarterlyforeign exchange revaluation adjustments.
The central bank forecast that Malaysia's GDP growth would be between 5.0-5.5 percent for 2014.-VNA
