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Malaysia'S First Batch Of Textile Garments Has Two Digit Growth In The First Quarter Of This Year.

2011/5/20 11:39:00 56

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The information released by the Central Bank of Malaysia is that Malaysia's economic growth rate in the first quarter of this year (2011) is only 4.6%, which is much lower than that of the same period last year (10.1% growth), and is also 4.8% worse than that of the previous quarter (fourth). Among them, the 5.9% growth of the service industry is the best. Its growth rate is 5.4% for the manufacturing industry, 5.4% for the construction industry, 3.8% for growth, and 0.3% for agriculture, while the mining industry is shrinking by 3%.

Gerdie, President of the Central Bank of Malaysia, pointed out at the media briefing meeting in May 18th (2011) that external factors, including Japan's earthquake and tsunami disaster, the EU sovereign debt crisis, the soaring prices of raw products and the global

Inflation pressure

As a result, Malaysia's economy grew by only 4.6% in the first quarter of this year. The canal is convinced of Malaysia's original products.

Rise in price

Malaysia's economic growth rate is expected to reach 5.5% to 6% this year, driven by increased trade continuity in the region, improved external demand and increased exports of non electronic and electrical products.

Malaysia's economic growth in the first quarter of this year was mainly driven by private consumption (6.7% growth, 6.4% above the fourth quarter of last year) and fixed capital expenditure (growth 6.5%), leading to 6.6% growth in domestic demand, 5.9% above the fourth quarter of last year, and 6.1% growth in public expenditure (the fourth quarter of last year was 0.1%), and continued to be a pillar of Malaysia's economic growth.

The improvement of labour market and the increase of wages have led to an increase in supply and service expenditure.

Malaysia

Despite the slowdown in external demand, the export industry continued to achieve 3.7% growth in support of petroleum products and manufactured goods (1.5% in the fourth quarter last year), while imports grew 8.4% from the increase in manufacturing output and the improvement in domestic demand (3.3% in the fourth quarter last year).

If we look at departmental services, the service sector has risen again and become the locomotive of Malaysia's economic growth. The real estate and business services (8.7%), wholesale and retail (growth 6.8%), finance and insurance (growth 6.8%), communications (growth 6.5%), pportation and warehousing (growth 4.3%) and other fields have led to 5.9% growth (the fourth quarter of last year was 6.1%).

The manufacturing industry grew by 5.4% (6.2% in the fourth quarter last year), mainly due to the growth of crude oil, chemical, rubber and plastic products 15.6%. Other fields including non-metallic minerals, basic metals, metal casting products and textiles, garments and leather products also gained two digit growth.

The construction industry started with most of the civil engineering projects after the tenth Malaysia Plan, and grew 3.8% (5.6% in the fourth quarter last year).

Agriculture, which shrank by 3.9% in the fourth quarter of last year, still has a negative growth of 0.3% in the first quarter of this year, mainly attributing to 7.9% and 12.1% shrinkage of palm oil and timber industry, respectively. However, rubber and animal husbandry output are still rising. The first quarter of this year's mining industry has expanded to 3% (the fourth quarter of last year has shrunk 1.2%), mainly due to the continued decline of crude oil output by 7.6%.