Malaysia's economy shrank by 17.1 percent year-on-year in the second quarter of 2020, the first contraction since the third quarter 2009, and the steepest fall since the fourth quarter of 1998 and worse than market expectations of a 10 percent contraction, reflecting the negative impact of measures taken both globally and domestically to contain the spread of the COVID-19 pandemic. Household consumption slumped 18.5% (vs 6.7% in Q1), while fixed investment plunged 28.9% (vs -4.6% in Q1). In addition, net external demand contributed negatively to the GDP as both exports and imports fell sharply, while government spending growth eased. On the production side, the services and manufacturing sectors contracted, while both mining & quarrying and construction dropped at a faster rate. By contrast, production of agriculture rebounded. On a seasonally adjusted quarterly basis, the economy shrank by 16.5 percent, the most contraction since the series began in the second quarter 2000.
GDP Annual Growth Rate in Malaysia averaged 4.46 percent from 2000 until 2020, reaching an all time high of 10.30 percent in the first quarter of 2010 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 September of 2020. source: Department of Statistics, Malaysia
GDP Annual Growth Rate in Malaysia is expected to be -5.00 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 8.50 in 12 months time. In the long-term, the Malaysia GDP Annual Growth Rate is projected to trend around 6.50 percent in 2021 and 4.50 percent in 2022, according to our econometric models.