Malaysian economy expanded by 4.6% in 2008

AMIDST the international financial turmoil and sharp deterioration in global economic environment, the Malaysian economy registered a growth of 4.6% in 2008. Robust domestic demand, in particular sustained private consumption and strong public spending, supported growth during the year.

While external demand was strong in the first half of 2008, the sharp and rapid deterioration in the global economic conditions as well as major correction in commodity prices in the second half, led to a contraction in Malaysia’s export performance in the latter part of the second half year.