Industrial production in Malaysia dropped by 4.9 percent year-on-year in March 2020, compared with market consensus of a 5 percent fall and after an upwardly revised 5.8 percent rise in February. This was the first decline in industrial output since December 2015 and the steepest since May of 2011, as COVID-19 pandemic took a huge toll on the sector, with manufacturing output tumbling (-4.2 percent vs 6.2 percent in February), mainly due to non-metallic mineral products, basic metal & fabricated metal products (-9.8 percent), electrical and electronic products (-5 percent), transport equipment & other manufactures (-10.2 percent), and food, beverages & tobacco (-9.9 percent). In addition, mining activity shrank 6.5 percent, following a 6.1 percent rise in February, largely due to natural gas (-6 percent) and crude oil and condensate (-7.1 percent). At the same time, the electricity sector decreased by 7 percent, after a 6.8 percent rise in February.
Industrial Production in Malaysia averaged 2.37 percent from 2007 until 2020, reaching an all time high of 12.80 percent in March of 2010 and a record low of -17.60 percent in January of 2009. This page provides - Malaysia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Department of Statistics, Malaysia
Industrial Production in Malaysia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Malaysia to stand at 4.80 in 12 months time. In the long-term, the Malaysia Industrial Production is projected to trend around 4.80 percent in 2021, according to our econometric models.