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MALAYSIA'S HIGHER GDP GROWTH IN 2000 DUE TO STRONG DOMESTIC/EXTERNAL DEMAND.
KUALA LUMPUR, March 1 Asia Pulse - The stronger-than-expected growth in Malaysia's economy or Gross Domestic Product (GDP) of 8.5 percent for last year against an earlier forecast of 7.5 percent was the result of strong demand from both domestic and external sectors, Bank Negara Malaysia said Wednesday.
It said in a statement that domestic demand emanated from the recovery in private sector activity as well as the government's fiscal stimulus package.
On the other hand, external demand originated from strong global demand for electronics, electrical apparatus and chemicals and chemical products, it added.
Despite this strong growth, the central bank said that inflation remained low at just 1.6 percent during 2000.
Bank Negara also said its net international reserves amounted to RM113.5 billion (US$29.9 billion) or US$29.9 billion as at end-December, compared with RM122.8 billion or US$32.3 billion as at end-September.
During the final quarter of 2000, there were substantial inflows from the strong trade surplus and long-term capital inflows as well as proceeds from the issuance of the Malaysian Euro 650 million Notes due 2005.
The inflows, said the central bank, were able to cushion, to some extent, the outflows during the quarter.
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Source: HighBeam Research, MALAYSIA'S HIGHER GDP GROWTH IN 2000 DUE TO STRONG DOMESTIC/EXTERNAL...