Malaysia experienced higher than expected economic growth in the final quarter of 2013 with a 5.1 per cent year on-year increase. This came after a 5% increase in the third quarter and brought the annual GDP growth to a healthy 4.7%. In 2014, the economy is expected to grow by over 5%.
The economy is being fuelled by strong domestic consumption, which led to a rise in imports, as well as the beginnings of a global recovery, which helped exports.
Most expats currently living here likely consider themselves lucky when looking at the depressing economic data coming from many Western countries. Malaysia has also avoided the massive natural disasters which struck Japan and the Philippines, the serious civil disturbances happening in Thailand (and not so long ago in Indonesia), and the staggering pollution problems China is struggling to control, particularly in the capital city of Beijing.
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