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Gross Domestic Product First Quarter 2012 (Updated : 23/05/2012)
ECONOMIC GROWTH
The Malaysia's economy grew by 4.7 per cent in this quarter as compared to 5.2 per cent in the previous quarter. On the supply side, all sectors of the economy recorded a positive growth with Services and Manufacturing sectors remained as the main catalyst.
On the demand side, the resilient Private Final Consumption and Gross Fixed Capital Formation has led the economic growth.
SERVICES
The Services sector recorded a growth of 5.0 per cent underpinned by Wholesale & Retail Trade and Communication. The growth of 6.4 per cent in Wholesale & Retail Trade was supported by the expansion in Retail segment particularly in household appliances & equipments, pharmaceutical products and personal care products. Meanwhile, Communication expanded to 9.4 per cent propelled by the higher consumption in mobile phone services and data communication. In this quarter, the robust construction and oil & gas exploration activities have stimulated the growth in Business Services.
MANUFACTURING
Manufacturing sector increased to 4.2 per cent in this quarter. Growth was mainly supported by the expansion of 5.6 per cent in Petroleum, Chemical, Rubber and Plastic Products due to the turnaround in the production of refined petroleum products. The Non-Metallic Mineral, Basic Metal & Fabricated Metal Products continued to register double-digit growth of 10.2 per cent led by the strong growth in fabricated metals and non-metallic mineral products.
CONSTRUCTION
A vibrant growth of 15.5 per cent was recorded in the Construction sector following 7.5 per cent growth in the last quarter. The growth was spearheaded by the strong performance in the Residential, Civil Engineering, Non-Residential and Special Trade. The Residential strengthened further to 24.1 per cent spurred by the high-end residential projects.
AGRICULTURE
The Agriculture sector expanded with a slower pace of 2.1 per cent as compared to 6.9 per cent in the previous quarter. The slower growth was attributed by the decline in the production of Rubber and Fishing. However, Livestock showed favourable growth of 11.0 per cent while Forestry turned around to 5.4 per cent as compared to negative 6.3 per cent in the last quarter. Oil Palm registered a growth of 3.5 per cent in this quarter.
MINING AND QUARRYING
The Mining and Quarrying sector recovered from negative 3.8 per cent to 0.3 per cent attributed by the rebound of production in crude oil to 1.3 per cent. Smaller decline was recorded in the production of natural gas (-0.2 per cent), while the production of condensate remain subdued by registering a negative growth of 4.2 per cent.
FINAL CONSUMPTION EXPENDITURE
Final Consumption Expenditure registered a growth of 7.1 per cent as compared to 11.1 per cent in the previous quarter.
The Private Final Consumption Expenditure sustained its growth at 7.4 per cent. This expansion was led primarily by the expenditure on Food & Non-alcoholic Beverages, Communication and Miscellaneous Good & Services. Meanwhile, the Government Final Consumption Expenditure grew by 5.9 per cent.
GROSS FIXED CAPITAL FORMATION
The Gross Fixed Capital Formation (GFCF) accelerated to 16.1 per cent in this quarter as compared to 8.4 per cent in the previous quarter. The stronger growth was fuelled by the expenditure on Structure and Machinery & Equipment which was in line with the rapid growth of Construction sector.
Private sector drove the GFCF growth by increasing to 19.8 per cent. Meanwhile, the Public sector rose to 10.3 per cent after registered 1.9 per cent growth in the preceding quarter. The share of GFCF in this quarter for Private sector is 63.9 per cent while the Public sector is 36.1 per cent.
EXPORTS AND IMPORTS
Exports registered a growth of 2.8 per cent in this quarter mainly supported by the products of Petroleum, Manufactured Goods and Chemicals.
Meanwhile, the increase in Imports of 6.8 percent was driven by higher imports of Machinery & Transport Equipment, Mineral Fuel & Lubricants and Chemicals.
REVISION
Data from first quarter 2005 to fourth quarter 2011 have been revised in line with the rebasing GDP to base year 2005.
| Download: | Table 1 : Gross Domestic Product At Current Prices - First Quarter 2012 |
| Table 2 : Gross Domestic Product At Constant Prices - First Quarter 2012 |
