KUALA LUMPUR, May 17 (Xinhua) -- Malaysia's foreign direct investment (FDI) increased by 12 billion ringgit (2.56 billion U.S. dollars) to 938 billion ringgit as at the end of the first quarter of 2024 from 926 billion ringgit in the fourth quarter of 2023, official data showed Friday.

The Department of Statistics Malaysia (DOSM) said in a statement that the services sector remained the largest recipient with a value of 476.6 billion ringgit, or 50.8 percent.

This was followed by manufacturing (390.4 billion ringgit, 41.6 percent) and mining and quarrying (46.1 billion ringgit, 4.9 percent).

Meanwhile, Malaysia's direct investment abroad (DIA) position increased to 683.6 billion ringgit in the first quarter of 2024 as compared to 664.4 billion ringgit at the end of the last quarter of 2023.

The services sector was the main contributor to DIA position (475.7 billion ringgit).

This was followed by mining and quarrying (82.6 billion ringgit) and manufacturing (60.8 billion ringgit).

The top three destinations were Singapore with a value of 160.9 billion ringgit, or 23.5 percent, followed by Indonesia (75.8 billion ringgit, 11.1 percent) and the Netherlands (39.9 billion ringgit, 5.8 percent). (1 ringgit equals 0.21 U.S. dollar) Enditem

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