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GDP constant prices are now expressed in 2015 prices
Malaysia’s economy contracted 5.6 per cent in 2020

Gross Domestic Product Second Quarter Of 2014

Release Date : Friday 15, August 2014 1201

Malaysia’s economy advanced significantly to 6.4 per cent in the second quarter of 2014. For the first half of 2014, GDP strengthened to 6.3 per cent (1H 2013: 4.4 per cent). On a quarter-on-quarter seasonally adjusted, the economy grew 1.8 per cent.

Table 1: GDP at Constant 2005 Prices

GDP in current prices amounted to RM262.8 billion in this quarter, an increase of RM25.3 billion as against the second quarter of 2013. In constant 2005 prices, GDP registered a value of RM205.6 billion.

Chart 1: GDP and Annual Percentage Change

 

Manufacturing and Services continued to drive the supply side coupled with a sturdy pace in Agriculture.

Chart 2: Services and Annual Percentage Change 
at Constant 2005 prices

 

Services sector grew 6.0 per cent propelled by the brisk pace in Wholesale & Retail Trade and steadfast momentum in Communication. Wholesale & Retail Trade advanced further to 9.1 per cent supported by solid performance in Retail (9.9 per cent), Wholesale (8.4 per cent) and Motor Vehicle (8.9 per cent). Communication remained strong by registering 9.8 per cent while Business Services increased 8.0 per cent backed by the engineering services.

Chart 3: Manufacturing and Annual Percentage Change
at Constant 2005 prices

 

The growth of Manufacturing sector escalated to 7.3 per cent. Electrical & Electronic products picked-up to 11.4 per cent following the higher demand for semiconductor and communication equipment products. The expansion of Manufacturing sector was also reinforced by Transport Equipment & Other Manufactures (18.1 per cent) and Food, Beverages & Tobacco (10.8 per cent). Non-metallic Mineral products, Basic Metal & Fabricated Metal products expanded further to 3.9 per cent.

 

Chart 4: Construction and Annual
Percentage Change

 

Agriculture sector surged to 7.1 per cent (Q1 2014: 2.3 per cent) spearheaded by the escalation of Oil Palm (14.9 per cent). Other Agriculture grew 6.8 per cent supported by vegetables, fruits and paddy. Livestock remained vital at 6.1 per cent following a higher demand for domestic consumption of poultry. Meanwhile, after eight consecutive quarters of negative growth, Forestry & Logging rebounded substantially to 5.9 per cent in this quarter.

 

The acceleration in Net Exports and steady growth in Private Final Consumption Expenditure has boosted the demand side.

Chart 5: Private Final Consumption Expenditure and Annual Percentage Change 

 

 

 

 

 

 

 Gross Domestic Product Second Quarter 2014 (Updated : 15/08/2014) pdf