Malaysia's economy advanced 5.6% yoy in Q1 of 2023, compared with market forecasts of 4.8% but slowing from an upwardly revised 7.1% growth in Q3, driven mainly by domestic demand. It was the sixth straight quarter of expansion but the softest pace since Q1 of 2022, amid easing in private consumption (5.9% vs 7.3% in Q4), and fixed investment (4.9% vs 8.8%). In addition, government spending dropped (-2.2% vs 3.0%), due to lower spending on supplies and services. Meanwhile, net trade contributed negatively to the GDP, with exports shrinking by 3.3% and imports falling by 6.5%. On the production side, activity eased for all sectors: services (7.3% vs 9.1% in Q4), manufacturing (3.2% vs 3.9%), agriculture (0.9% vs 1.1%), mining (2.4% vs 6.3%), and construction (7.4% vs 10.1%). On a seasonally adjusted quarterly basis, the economy grew 0.9%, rebounding from a downwardly revised 1.7% contraction in Q4. The GDP is projected to expand by 4.0% to 5.0% in 2023, driven by firm domestic demand. source: Department of Statistics, Malaysia
GDP Annual Growth Rate in Malaysia averaged 4.46 percent from 2000 until 2023, reaching an all time high of 15.90 percent in the second quarter of 2021 and a record low of -17.10 percent in the second quarter of 2020. 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 June of 2023.
GDP Annual Growth Rate in Malaysia is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Malaysia GDP Annual Growth Rate is projected to trend around 4.30 percent in 2024 and 4.50 percent in 2025, according to our econometric models.