Malaysia's economy grew by 0.7 percent year-on-year in the first quarter of 2020, the weakest pace of expansion since the third quarter of 2009 and compared with market expectations of a 1.5 percent contraction, reflecting the negative impact of measures taken both globally and domestically to contain the spread of the COVID-19 pandemic. Household consumption rose at a softer 6.7 percent (vs 8.1 percent in Q4), while fixed investment tumbled 4.6 percent (vs -0.7 percent in Q4). In addition, net external demand contributed negatively to the GDP as both exports and imports fell sharply, while government spending growth accelerated. On the production side, the services and manufacturing sectors expanded at softer rates, while mining & quarrying, construction and agriculture all contracted. On a seasonally adjusted quarterly basis, the economy shrank by 2 percent, the first contraction since 2009.
GDP Annual Growth Rate in Malaysia averaged 4.72 percent from 2000 until 2020, reaching an all time high of 10.30 percent in the first quarter of 2010 and a record low of -6.20 percent in the first quarter of 2009. This page provides - Malaysia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Department of Statistics, Malaysia
GDP Annual Growth Rate in Malaysia is expected to be -6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Malaysia to stand at 8.50 in 12 months time. In the long-term, the Malaysia GDP Annual Growth Rate is projected to trend around 6.50 percent in 2021 and 4.50 percent in 2022, according to our econometric models.