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Gross Domestic Product Fourth Quarter Of 2014
Overview
Malaysia’s economy expanded 5.8 per cent in the fourth quarter of 2014. On the supply side, the growth was stimulated by Services, Manufacturing and Mining & Quarrying sectors. For year 2014, GDP rose to 6.0 per cent with a value added of RM835 billion at constant prices and RM1,070 billion at current prices.
On a quarter-on-quarter seasonally adjusted, the GDP in the fourth quarter grew 2.0 per cent.
| PERCENTAGE CHANGE FROM CORRESPONDING QUARTER OF PRECEDING YEAR | ||||||||
| 2013 | 2014 | Q313 | Q413 | Q114 | Q214 | Q314 | Q414 | |
| GDP | 4.7 | 6.0 | 5.0 | 5.1 | 6.2 | 6.5 | 5.6 | 5.8 |
| PERCENTAGE CHANGE FROM PRECEDING QUARTER | ||||||||
| Seasonally Adjusted GDP | 1.7 | 1.9 | 0.9 | 1.9 | 0.9 | 2.0 | ||
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Chart 2: Services and Annual Percentage Change
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Services sector picked-up to 6.4 per cent, following a 6.2 per cent increase in the preceding quarter. The momentum in this sector was largely contributed by the growth in Wholesale & Retail Trade which augmented to 9.3 per cent. Communication remained resilient by posting a growth of 9.8 per cent and Business Services rose to 9.1 per cent.
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Chart 3: Manufacturing and Annual Percentage Change
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Manufacturing sector continues to spur the economy growth by registering an expansion of 5.2 per cent during the quarter. The performance was spearheaded by Electrical & Electronic products (9.6%). Petroleum, Chemical, Rubber & Plastic products improved to 4.4 per cent boosted by chemicals and refined petroleum products. Food, Beverages & Tobacco increased to 5.4 per cent following an expansion in food processing and beverages.
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Chart 4: Mining & Quarrying and Annual Percentage Change
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Mining and Quarrying sector posted a robust growth of 9.6 per cent (Q3 2014: 1.4%). The strong performance was reflected by the double-digit growth in production of crude oil and a turnaround in natural gas to 2.8 per cent.
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Chart 5: Private Final Consumption Expenditure and Annual Percentage Change
On the demand side, Private Final Consumption Expenditure ascended to 7.8 per cent (Q3 2014: 6.7%) impelled by the higher consumption on food & beverages, communication and transport.
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Chart 6: GFCF and Percentage Share at Constant 2005 prices
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Gross Fixed Capital Formation (GFCF) expanded to 4.3 per cent supported by the brisk momentum in Structure at 10.8 per cent. The expansion in GFCF was induced by Private sector (share: 51.4%) which registered a double-digit growth of 11.2 per cent while Public sector slipped to 2.1 per cent in this quarter.
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Chart 7: Exports & Imports and Annual Percentage Change
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Exports eased to 1.5 per cent mainly due to the double-digit contraction in exports of services. Meanwhile, exports of goods remained positive by registering a growth of 3.7 per cent for this quarter. Imports increased to 2.6 per cent driven by the better demand particularly for goods. |
Released By:
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
12 February 2015
Contact person:
Norrita binti Amran
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : norrita.amran@stats.gov.my
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