Malaysia's GDP grew by 5.9% in Q2 2024, supporting the year's projection of 4.0 to 5.0%. Minister Tengku Zafrul highlighted increased private investment and manufacturing growth, with private investment rising by 12% and manufacturing by 4.7%. The surge in exports, especially in the electrical and electronics sector, also contributed, with a 3.4% increase in net exports. The National Semiconductor Strategy aims to strengthen Malaysia's role in the global semiconductor industry, supporting further economic growth.
MALAYSIA ON TRACK TO ACHIEVE 4.0 TO 5.0 PCT GDP PROJECTION THIS YEAR
Malaysia's GDP grew by 5.9% in Q2 2024, supporting the year's projection of 4.0 to 5.0%. Minister Tengku Zafrul highlighted increased private investment and manufacturing growth, with private investment rising by 12% and manufacturing by 4.7%. The surge in exports, especially in the electrical and electronics sector, also contributed, with a 3.4% increase in net exports. The National Semiconductor Strategy aims to strengthen Malaysia's role in the global semiconductor industry, supporting further economic growth.
