KUALA LUMPUR: Malaysia’s 2024 gross domestic product (GDP) is projected to grow by 5.1 per cent compared to the 3.6 per cent growth recorded in 2023, said the Department of Statistics Malaysia (DOSM).
The growth is expected to be driven by the 4.8 per cent growth in the fourth quarter of 2024 (4Q 2024) following a stronger 5.3 per cent growth in 3Q 2024, DOSM said in its 4Q 2024 advance GDP estimates released today.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said Malaysia’s economic growth is supported by strong domestic demand and a recovering external sector, alongside strategic investments in areas like renewable energy and digital infrastructure, including data centres.
"These efforts have attracted foreign investments and contributed to economic stability. Additionally, recent increases in tourist arrivals and civil servant pay are expected to boost household spending and retail activity further, contributing positively to overall economic momentum,” he said. - Bernama
