Malaysia's GDP growth slows to 2.9% in Q2 on weak exports

Southeast Asia's manufacturing hub faces 'weaker-than-expected' global economy

20230818 port Butterworth Malaysia

A port in Butterworth, Malaysia. The country's economy slowed in the second quarter of 2023 as weaker exports weighed on its latest gross domestic product figures. © AP

NORMAN GOH, Nikkei staff writer

KUALA LUMPUR -- Malaysia's economy expanded 2.9% in the April to June period from a year earlier, growing at its slowest pace in seven quarters due to weaker exports, the country's central bank announced Friday.

Malaysia's gross domestic product grew 5.6% in the January to March quarter, outperforming most of its Southeast Asian peers as the country recovered from the COVID-19 pandemic. But the momentum has slowed in recent months.

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