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Malaysia’s GDP climbs 6.4 percent in second quarter

Malaysia’s domestic gross product (GDP) expanded by 6.4 percent in the second quarter of 2014, fuelled by stronger exports and robust domestic demand, announced the Central Bank of Malaysia.
Malaysia’s domestic gross product (GDP) expanded by 6.4 percent inthe second quarter of 2014, fuelled by stronger exports and robustdomestic demand, announced the Central Bank of Malaysia.

Thebank’s Governor Zeti Akhtar Aziz said GDP hit 262.8 billion RM (over 83billion USD) over the period, picking up 4.5 percent from a year before.

BetweenApril and June, the country’s exports picked up 8.8 percent whileimports saw a 3.9 percent increase, resulting in a trade surplus of 18.4billion RM, down 43 percent quarter on quarter.

Exports andprivate sector activity were said to remain the key drivers of growthduring the second quarter with private investment, especially in theservices and manufacturing sectors, surged by 12.1 percent.

Thecentral bank forecast Malaysia’s annual GDP growth rate will top 5.5percent, backed by a 6.3 percent pace in the first half.

Earlier, the bank projected GDP growth at 4.5 – 5.5 percent this year.-VNA
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