Malaysia's economy grew 4.4% y/y in Q1, exports to US surge in March

Malaysia's economy grew 4.4 per cent in the first quarter of 2025 from a year earlier and the country's exports to the United States surged in March, state media agency Bernama reported, warning that US tariffs were creating uncertainty.

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Malaysia's economy grew 4.4 per cent in the first quarter of 2025 from a year earlier and the country's exports to the United States surged in March, data showed on Friday, as authorities warned that US tariffs were creating uncertainty.

The official advance GDP estimates showed the economy slowing from growth of 5 per cent in the final quarter of 2024, with the statistics department saying domestic activity and demand had underpinned growth. Final first-quarter data is due on May 16.

"Malaysia's GDP growth held firm amid persistent global headwinds, underpinned by resilient domestic fundamentals," Chief Statistician Mohd Uzir Mahidin said.

He said strength in retail and wholesale trade, a good jobs market and improved demand for key exports had helped buffer the economy against global challenges.

Separate data showed a stronger-thanexpected 6.8 per cent annual rise in exports in March, with shipments to the United States rising by 50.8 per cent to a record 22.66 billion ringgit ($5.14 billion).