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.

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Malaysia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-10 04:00 AM Q4 7% 14.2% 6.6% 6.1%
2023-05-12 04:00 AM Q1 5.6% 7.1% 4.8% 5.1%
2023-08-11 04:00 AM Q2 5.6% 4.7%


Related Last Previous Unit Reference
GDP Growth Rate 0.90 -1.70 percent Mar 2023
GDP Annual Growth Rate 5.60 7.10 percent Mar 2023
GDP Constant Prices 380860.00 397191.00 MYR Million Mar 2023
Gross National Product 370.30 392.90 MYR Billion Mar 2023
Gross Fixed Capital Formation 77324.00 74844.00 MYR Million Mar 2023
GDP from Services 225254.00 232808.00 MYR Million Mar 2023
GDP from Mining 24675.00 25498.00 MYR Million Mar 2023
GDP from Manufacturing 89996.00 95514.00 MYR Million Mar 2023
GDP from Construction 13906.00 13856.00 MYR Million Mar 2023
GDP from Agriculture 22816.00 25162.00 MYR Million Mar 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.60 7.10 15.90 -17.10 2000 - 2023 percent Quarterly
Constant 2015=100, NSA

News Stream
Malaysia Q1 GDP Growth Beats Forecasts
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.
2023-05-12
Malaysia Q4 GDP Growth Beats Estimates
Malaysia's economy expanded 7% yoy in Q4 of 2022, compared with market forecasts of 6.6% but slowing from a 14.2% growth in Q3, amid the ongoing stimulus measures and waning low base effect. Still, the GDP growth was above the long-term average of 5.1%. On the expenditure side, all the activities eased: private consumption (7.4% vs 15.1% in Q3), fixed investment (8.8% vs 13.1%), and government spending (2.4% vs 4.5%). Meantime, exports grew moderated (9.6% vs 23.9%) while imports rose 8.1% (24.4% in Q3). On the production side, activity slowed for all sectors: services (8.9% vs 16.7% in Q3), manufacturing (3.9% vs 13.2%), agriculture (1.1% vs 1.2%), mining (6.8% vs 9.2%), and construction (10.1% vs 15.3%). On a seasonally adjusted quarterly basis, the economy shrank 2.6%, the first decline since the third quarter of 2021, reversing from a 1.9% gain in Q3. Considering the 2022 full year, the GDP advanced by 8.7%, the strongest growth in 22 years, compared to a 3.1% rise in 2021.
2023-02-10
Malaysia Q3 GDP Growth Strongest in 5 Quarters
Malaysia's economy advanced 14.2% yoy in Q3 of 2022, exceeding market forecasts of 11.7% and picking up from an 8.9% growth in Q2. This was the fastest pace of expansion since Q2 of 2021, boosted by strong domestic demand due to further improvement in labor market as well as ongoing policy support. Private consumption stayed strong (15.1% vs 18.3% in Q2), amid a sharp jump in fixed investment (13.2% vs 6.3%) and robust government spending (4.5% vs 2.6%). Meantime, exports rose 23.9% while imports went up 24.4%. On the production side, activity rose for all sectors: services (16.7%), manufacturing (13.2%), agriculture (1.2%), mining (9.2%), and construction (15.3%). BNM predicted the economy will grow at a softer pace in Q4, on some global headwinds and the absence of base effects. For full 2022, the economy is expected to stay robust and grow by 4-5% in 2023. On a seasonally adjusted quarterly basis, the economy grew 1.9%, after a 3.5% rise in Q2.
2022-11-11