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. source: Department of Statistics, Malaysia

GDP Annual Growth Rate in Malaysia averaged 4.43 percent from 2000 until 2022, 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 November of 2022.

GDP Annual Growth Rate in Malaysia is expected to be 5.80 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 4.00 percent in 2023 and 4.30 percent in 2024, according to our econometric models.

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Malaysia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-12 04:00 AM Q2 8.9% 5% 6.7% 7%
2022-11-11 04:00 AM Q3 14.2% 8.9% 11.7% 11%


Related Last Previous Unit Reference
GDP Growth Rate 1.90 3.50 percent Sep 2022
GDP Annual Growth Rate 14.20 8.90 percent Sep 2022
GDP Constant Prices 383756.00 366180.00 MYR Million Sep 2022
Gross National Product 374.70 358.70 MYR Billion Sep 2022
Gross Fixed Capital Formation 73534.00 75511.00 MYR Million Sep 2022
GDP from Services 222307.00 212812.00 MYR Million Sep 2022
GDP from Mining 23255.00 23531.00 MYR Million Sep 2022
GDP from Manufacturing 92664.00 89153.00 MYR Million Sep 2022
GDP from Construction 13621.00 12929.00 MYR Million Sep 2022
GDP from Agriculture 27710.00 23472.00 MYR Million Sep 2022

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
14.20 8.90 15.90 -17.10 2000 - 2022 percent Quarterly
Constant 2015=100, NSA

News Stream
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
Malaysia Q2 GDP Growth Strongest in a Year
Malaysia's economy advanced by 8.9% yoy in Q2 of 2022, accelerating sharply from a 5.0% growth in Q1 and easily beating market consensus of a 6.7% rise. It was the strongest GDP growth since Q2 2021, mainly boosted by domestic demand as the economy re-emerged from COVID curbs. Household consumption picked up strongly (18.3% vs 5.5% in Q1), as did fixed investment (5.8% vs 0.2%). Meantime, government spending moderated notably (2.6% vs 6.7%, while net external trade contributed negatively as exports rose 10.4% while imports gained 14%. On the production side, output accelerated for both services (12.0% vs 6.5%) and manufacturing (9.2% vs 6.6%), while those of construction rebounded (2.4% vs -6.2%). Meantime, activity continued to fall for both mining (-0.5% vs -1.1%) and agriculture (-2.4% vs 0.1%). On a seasonally adjusted quarterly basis, the GDP expanded 3.5%, following a downwardly revised 3.8% gain in Q1. Considering H1 2022, the economy grew by 6.9% yoy.
2022-08-12
Malaysia GDP Growth Accelerates to 5% in Q1
Malaysia's economy expanded by 5.0% yoy in Q1 of 2022, accelerating from a 3.6% gain in Q4 and beating market consensus of a 4% rise, supported by improving domestic demand as economic activity continued to normalize with the easing of COVID-19 restrictions. Household consumption rose faster (5.5% vs 3.7% in Q4), amid a strong pickup in government spending (6.7% vs 1.6%), and an increase in fixed investment (0.2% vs -3.0%). Meanwhile, net external trade contributed negatively to the GDP, as exports rose 8% while imports grew 11.1%. On the production side, output grew further for services (6.5% vs 3.2%), manufacturing (6.6% vs 9.1%) and agriculture (0.2% vs 2.8%). By contrast, output fell for mining (-1.1% vs -0.6%); construction (-6.2% vs -12.2%). On a seasonally adjusted quarterly basis, the GDP grew 3.9%, slowing from a downwardly revised 4.6% rise in Q4. For 2022, the central bank maintained its GDP outlook at 5.3%-6.3% with inflation projected to average between 2.2% and 3.2%.
2022-05-13