Economic and Financial Developments in Malaysia in the First Quarter of 2024

The performance of the Malaysian economy in the 1Q 2024 was released today.

The economy registered a higher growth of 4.2% in the first quarter driven by stronger private expenditure and positive turnaround in exports. On the supply side, most sectors registered higher growth.

Headline inflation remained moderate at 1.7% during the quarter (4Q 2023: 1.6%). The modest increase in headline inflation reflects the policy adjustments to water tariffs in February and services tax for high-usage electricity in March, which increased by 20.8% (4Q 2023: 2.1%) and 0.7% (4Q 2023: 0%) respectively.

For highlights and more, read our report at the links below:

📌 https://www.bnm.gov.my/documents/20124/14443389/qb24q1_slides.pdf

📌 https://www.bnm.gov.my/-/quarterly-bulletin-1q-2024

📌 https://www.bnm.gov.my/documents/20124/14443389/qb24q1_en_table1.pdf