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Malaysia's construction sector grows 22.9 pct in Q3

0 Comment(s)Print E-mail Xinhua, November 11, 2024
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KUALA LUMPUR, Nov. 11 (Xinhua) -- Malaysia's construction sector continues to sustain its momentum with a positive growth of 22.9 percent, reaching 41.1 billion ringgit (9.32 billion U.S. dollars) of work done value in the third quarter of 2024, official data showed Monday.

The growth was primarily driven by a 42.6 percent expansion in the special trade activities sub-sector, which continued to demonstrate accelerated growth, the Department of Statistics Malaysia (DOSM) said in a statement.

Additionally, the residential buildings and non-residential buildings sub-sectors both gained momentum by expanding 27.8 percent and 27.7 percent, respectively.

Meanwhile, the civil engineering sub-sector expanded at a more moderate pace with a 12 percent growth.

Of the total work done value in the third quarter, 36.9 percent was attributed to the civil engineering sub-sector, primarily in the construction of roads and railways and utility projects.

The private sector remained as the main impetus to the growth in this quarter, contributing 63.5 percent of the total value.

The private sector soared with a 33.3 percent growth, propelled by strong performance in the civil engineering and the special trade activities sub-sectors.

In contrast, the public sector, with a 36.5 percent share, recorded a moderate growth of 8.1 percent. The growth was fueled by special trade activities and non-residential buildings sub-sectors.

As for the first three quarters of 2024, the construction sector registered a total value of 116.8 billion ringgit (26.49 billion dollars), reflecting a 19.1 percent increase compared to the same period in 2023.

This positive growth was largely driven by a strong contribution from civil engineering activities, which expanded by 20.3 percent. Enditem

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