Malaysia's construction sector up 6.8 pct in Q4 2023-Xinhua

Malaysia's construction sector up 6.8 pct in Q4 2023

Source: Xinhua

Editor: huaxia

2024-02-13 16:59:45

KUALA LUMPUR, Feb. 13 (Xinhua) -- Malaysia's construction work done value reached 34.1 billion ringgit (7.15 billion U.S. dollars) in the fourth quarter of 2023, registering an increase of 6.8 percent over a year ago, official data showed Tuesday.

Growth in this quarter was reinforced by stronger expansion in the civil engineering sub-sector, which surged by 18 percent, while residential buildings and special trade activities expanded at a slower pace of 2.3 percent and 0.3 percent, respectively, the statistics department said in a statement.

In contrast, the non-residential buildings sub-sector experienced a decline of 1.9 percent.

Out of 34.1 billion ringgit work done value in the fourth quarter of 2023, 41.9 percent was in civil engineering, primarily in the construction of roads and railways and the construction of utility projects activities.

The private sector continued to be the main contributor, with the value of work done encompassing 59.5 percent of the overall value in the quarter.

The construction work done in 2023 reached a value of 132.2 billion ringgit, demonstrating continuous positive momentum at 8.4 percent after turning around in 2022 with 8.8 percent growth. (1 ringgit equals 0.21 U.S. dollar)