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Malaysian economic growth eased further in the first quarter of 2025 amid a contraction in the mining and quarrying sector, an advance estimate from the Department of Statistics showed on Friday.
Separate official data showed that the trade surplus in the country rose notably to MYR 24.7 billion in March from MYR 12.7 billion a year ago as exports grew amid a fall in imports.
Gross domestic product advanced 4.4 percent year-on-year in the March quarter, slower than the 5.0 percent growth in the fourth quarter of 2024.
The overall growth in the first quarter was underpinned by growth in the services, manufacturing, and construction sectors.
The services sector expanded 5.2 percent annually compared to a 5.5 percent rise in the fourth quarter, and the growth in manufacturing eased slightly to 4.2 percent from 4.4 percent. There was a 0.7 percent increase in the agriculture sector.
On the other hand, the mining and quarrying sector contracted at a faster pace of 4.9 percent versus a 0.9 percent decrease in the previous quarter. The weaker performance was influenced by lower production in the crude oil and condensate and natural gas sub-sectors.
On a quarterly basis, Malaysia's economy contracted by 3.7 percent, from 2.7 percent growth in the fourth quarter of 2024, the agency said.
The trade surplus climbed to MYR 24.7 billion in March from MYR 12.7 billion in the corresponding month last year. The surplus also increased from MYR 12.6 billion in February.
Exports rose 6.8 percent annually in March, while imports showed a renewed decline of 2.8 percent.
