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Al Jazeera
Al Jazeera
Business

Malaysia’s economy grows 5.1% in 2024 on strong investment, domestic demand

Economy Malaysia Bank Negara Malaysia United States
A motorcyclist rides past the Bank Negara Malaysia building in Kuala Lumpur, Malaysia, on March 5, 2020 [Vincent Thian/AP]

Malaysia’s economy grew 5.1 percent in 2024, as strong domestic demand and investment offset a downturn in the commodities sector, according to the Southeast Asian country’s central bank.

Gross domestic product (GDP) expanded 5 percent in the October-December quarter, Bank Negara Malaysia said on Friday, down from 5.3 percent growth in the third quarter but ahead of an advance estimate of 4.8 percent.

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