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Economy

Malaysia's Q3 GDP grew 14.2%, highest in over a year

Growth beat forecasts with strong exports, accelerated from previous quarters

The third-quarter growth rate signals Malaysia's economic recovery from the two-year-long COVID-19 pandemic.   © Getty Images

KUALA LUMPUR -- Malaysia's gross domestic product grew 14.2% in the third quarter compared to the same period last year, its central bank announced on Friday, signaling economic recovery from the two-year-long COVID-19 pandemic, although fear of a global slowdown remains.

After Malaysia's economy expanded 5% and 8.9% in the first and second quarters, positioning it as one of the fastest-growing Southeast Asian economies post-pandemic, growth in the July-September period further accelerated, hitting the highest rate of growth since the second quarter of 2021, when the economy expanded 15.9%, according to the central bank's statistics.

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