The Department of Statistics Malaysia (DOSM) reports that Malaysia's economy has shown strong growth in the first three quarters of 2024, expanding by 5.2% from January to September. This marks a significant improvement from the 3.8% growth recorded during the same period in 2023.
Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth signifies a notable improvement from the 3.8 per cent growth recorded during the same period in 2023. — Picture by Choo Choy Mayas a first-time user . Exclusively for Malay Mail readers: Use codeKUALA LUMPUR, Dec 24 — Malaysia’s economy has sustained strong growth in the first three quarters of 2024, expanding by 5.2 per cent from January to September, said the Department of Statistics Malaysia .
“The robust performance reflects continued resilience despite global uncertainties and is seen as a positive sign for the country’s economic stability. He added that Malaysia’s Industrial Production Index posted 2.1 per cent year-on-year growth in October 2024, driven by manufacturing and electricity , while mining declined at 2.8 per cent.“Simultaneously, the manufacturing sector recorded an increase of 3.0 per cent y-o-y in sales, to RM161.3 billion in October 2024, primarily fuelled by food, beverages and tobacco sub-sector, surging at 11.2 per cent.
Meanwhile, the country’s trade performance remained steady in October 2024, with total trade growing by 2.1 per cent y-o-y to reach RM244.3 billion.
ECONOMY GROWTH MALAYSIA STATISTICS TRADE
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024Malaysia's digital economy is set to reach US$31 billion in Gross Merchandise Value in 2024, marking a 16% increase from 2023.
Read more »
Malaysia's Trade Surges to Record Highs in 2024Malaysia's trade performance for January to November 2024 reached record highs, with exports and imports contributing to a significant trade surplus.
Read more »
Malaysia's Business Confidence Surges in Q3 2024Malaysia's GDP growth rate for Q3 2024 is 5.3%, reflecting strong business confidence. The MIER report highlights a significant increase in the manufacturing sector's index and robust sales performance.
Read more »
Malaysia's Digital Economy Expected to Reach AS$31 Billion in 2024The digital economy in Malaysia is forecasted to reach approximately RM138.43 billion (US$31 billion) in Gross Merchandise Value (GMV) by 2024, marking a 16% increase compared to 2023. According to the e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company, the Malaysian digital economy continues to grow towards profitability while maintaining double-digit GMV growth. Additionally, e-commerce remains the largest contributor to the digital economy, with a 17% increase to about US$16 billion.
Read more »
MIHAS @ Dubai 2024 dan JFEX Winter 2024: Usahawan PKNS terokai pasaran antarabangsaPerbadanan Kemajuan Negeri Selangor (PKNS) terus mengukuhkan peranan dalam memperkasakan usahawan Bumiputera menerusi penyertaan dalam pameran antarabangsa Malaysia International Halal Showcase (MIHAS) Dubai 2024 dan Japan International Food Expo (JFEX) Winter 2024, yang menjadi platform penting untuk mempromosikan produk, menarik pelaburan...
Read more »
Malaysia's E-Commerce Revenue Reaches RM918.2 Billion in First Nine Months of 2024Malaysia's e-commerce revenue hit RM918.2 billion in the first nine months of 2024, showing a 4.0% year-on-year growth, according to the Department of Statistics Malaysia (DOSM). While the third quarter of 2024 saw a slight 0.6% decline compared to the second quarter, e-commerce remains a crucial pillar of Malaysia's economic landscape.
Read more »