The Malaysian economy advanced 4.5 percent year-on-year in the first quarter of 2019, following a 4.7 percent expansion in the previous three-month period but beating market expectations of 4.3 percent. Growth was mainly supported by private consumption, government spending and net external demand while fixed investment contracted. On the industry side, a recovery in the agricultural sector led the expansion, while growth in other major sectors slowed. From reference first quarter 2019, the index has been rebased from 2010 to base year 2015. GDP Annual Growth Rate in Malaysia averaged 4.79 percent from 2000 until 2019, 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.

GDP Annual Growth Rate in Malaysia is expected to be 3.80 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 4.20 in 12 months time. In the long-term, the Malaysia GDP Annual Growth Rate is projected to trend around 4.50 percent in 2020, according to our econometric models.

Malaysia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-17 04:00 AM GDP Growth Rate YoY Q2 4.5% 5.4% 5.2% 5.1%
2018-11-16 04:00 AM GDP Growth Rate YoY Q3 4.4% 4.5% 4.6% 5%
2019-02-14 04:00 AM GDP Growth Rate YoY Q4 4.7% 4.4% 4.7% 4.6%
2019-05-16 04:00 AM GDP Growth Rate YoY Q1 4.5% 4.7% 4.3% 4.5%
2019-08-16 04:00 AM GDP Growth Rate YoY Q2 4.5% 4.1%
2019-11-15 04:00 AM GDP Growth Rate YoY Q3 3.8%



Malaysia GDP Growth Above Expectations in Q1

The Malaysian economy advanced 4.5 percent year-on-year in the first quarter of 2019, following a 4.7 percent expansion in the previous three-month period but beating market expectations of 4.3 percent. Growth was mainly supported by private consumption, government spending and net external demand while fixed investment contracted. On the industry side, a recovery in the agricultural sector led the expansion, while growth in other major sectors slowed.

In the first quarter, private expenditure went up by 7.6 percent, following an 8.4 percent gain in the previous period, driven by consumption of food & non-alcoholic beverages, transport and restaurants & hotels. Meantime, government spending rose 6.3 percent, faster than a 4.0 percent increase in the prior three months. Also, exports increased by 0.1 percent, slowing from a 3.1 percent rise in the December quarter while imports fell 1.4 percent, reversing from a 1.8 percent rise in the previous three months. However, gross fixed capital formation dropped 3.5 percent, after a 0.6 percent advance in the preceding quarter, mainly due to a decline in machinery & equipment investment.  

On the production side, growth slowed for services (6.4 percent vs 6.9 percent in Q4); manufacturing (4.2 percent vs 4.7 percent), and construction (0.3 percent vs 2.6 percent) while output shrank faster for mining & quarrying (-2.1 percent vs -0.7 percent). In contrast, agricultural activity rebounded sharply (5.6 percent vs -0.1 percent), after posting declines for three consecutive quarters, mainly due to a recovery in production of palm oil (9.8 percent vs -2.7 percent). Additional gains came from marine fishing (9.4 percent); livestock (4.8 percent) and rubber (12 percent).

On a quarter-on-quarter seasonally-adjusted basis, the GDP grew by 1.1 percent in the first quarter, following a downwardly revised 1.3 percent expansion in the previous quarter.

For 2019, the economy is estimated to grow between 4.3 percent - 4.8 percent, driven mainly by domestic demand amid lower public sector spending while external sector is likely to soften with moderating global demand.

Headline inflation is expected to average between 0.7 percent - 1.7 percent. Core inflation is estimated to be stable, supported by the continued expansion in economic activity and in the absence of strong demand pressures.

From reference first quarter 2019, the index has been rebased from 2010 to base year 2015.
 


Department of Statistics, Malaysia l Chusnul Ch Manan | chusnul@tradingeconomics.com
5/16/2019 11:20:32 AM



Malaysia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 1.30 5.50 -5.90 percent [+]
GDP Annual Growth Rate 4.50 4.70 10.30 -6.20 percent [+]
GDP 354.35 314.71 354.35 1.90 USD Billion [+]
GDP Constant Prices 341710.00 357074.00 357074.00 130630.00 MYR Million [+]
Gross National Product 335.40 349.40 349.40 127.10 MYR Billion [+]
Gross Fixed Capital Formation 79618.00 80886.00 86850.00 27407.00 MYR Million [+]
GDP per capita 12109.50 11720.70 12109.50 1354.00 USD [+]
GDP per capita PPP 28176.40 27271.90 28176.40 10556.60 USD [+]
GDP From Agriculture 24593.00 25944.00 27685.00 19362.00 MYR Million [+]
GDP From Construction 16656.00 16418.00 17207.00 6464.00 MYR Million [+]
GDP From Manufacturing 75660.00 79327.00 79327.00 45868.00 MYR Million [+]
GDP From Mining 26111.00 27118.00 27542.00 20435.00 MYR Million [+]
GDP From Services 194836.00 204205.00 204205.00 99821.00 MYR Million [+]


Malaysia GDP Annual Growth Rate

Malaysia is a developing economy in Asia which, in recent years, has successfully transformed from an exporter of raw materials into a diversified economy. The largest sector of the economy is services, accounting for around 54 percent of GDP. Manufacturing sector has been growing in recent years and now accounts for 25 percent of GDP and more than 60 percent of total exports. Mining and quarrying constitutes 9 percent of GDP and agriculture 9 percent. This page provides - Malaysia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.70 10.30 -6.20 2000 - 2019 percent Quarterly
Constant 2015=100, NSA




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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