Malaysia's GDP Grew 5.2 Percent in the Third Quarter of 2012


The Malaysia's economy grew by 5.2 per cent as compared to 5.6 per cent 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.
 
The Services sector expanded to 7.0 per cent supported by the strong performance of Finance & Insurance and Wholesale & Retail Trade sub-sectors. The growth of 11.8 per cent in Finance & Insurance was attributed by the financial intermediation services and premium income on insurance activity. Additionally, the fee based activities also registered double-digit growth supported by higher demand for financing from businesses and household.
 
Wholesale & Retail Trade grew by 4.4 per cent backed by the Retail activity in relation with the festive season. Meanwhile, Communication and Business Services remained stable by registering growth of 9.1 and 8.1 per cent respectively.
 
Manufacturing sector registered 3.3 per cent growth against 5.6 per cent in the last quarter. The main contributor was the Non-Metallic Mineral Products, Basic Metal and Fabricated Metal Products (9.3 per cent) and it was in line with the robust growth in construction activity.
 
Petroleum, Chemical, Rubber and Plastic Products increased to 2.8 per cent largely attributed by the double-digit growth in plastic products (11.4 per cent). Moreover, a strong performance in production of building and repairing of ships has bolstered the growth in Transport Equipment & Other Manufactures (4.8 per cent).
 
The Construction sector remained robust by registering a double-digit growth of 18.3 from 22.2 per cent in the previous quarter. Strong performance in this quarter was underpinned by the Civil Engineering and Residential.
 
Sturdy performance of Civil Engineering at 28.5 per cent was driven by major projects mainly in Klang Valley, Johor, Sabah and Perak. Residential sustained the strong growth of 16.4 per cent driven by the mixed development projects in Klang Valley, Sabah and Penang. In this quarter, Non-Residential improved further to 13.4 per cent attributed by significant momentum in industrialised projects.

 


Department of Statistics, Malaysia | Nuno Salva | nuno.salva@tradingeconomics.com
1/18/2013 5:01:37 PM