Malaysia's economy shrank by 4.5% yoy in Q3 of 2021, reversing from a record high growth of 16.1% in Q2 and compared with market consensus of a 1.3% drop, dragged down by strict restrictions to contain rising cases of the Delta strain, particularly in July. Both household consumption (-4.2% vs 11.7% in Q2) and fixed investment -10.8% vs 16.5%) declined sharply, while net external demand contributed negatively to the GDP as exports rose 5.1% (vs 37.4% in Q2), while imports grew at a faster 11.7% (vs 37.6% in Q2). At the same time, government spending growth slowed (8.1% vs 9.0%). On the production side, output fell for mining (-3.6% vs 13.9%), services (-4.9.4% vs 13.5%), construction (-20.6% vs 40.3%), manufacturing (-0.8% vs 26.6%), and agriculture (-1.9% vs -1.5%). Still, the economy is projected to grow between 3% to 4% this year, amid a ramped-up in vaccination drive. On a seasonally adjusted quarterly basis, the GDP contracted 3.6%, after a downwardly revised 1.9% fall in Q2. source: Department of Statistics, Malaysia
GDP Annual Growth Rate in Malaysia averaged 4.26 percent from 2000 until 2021, reaching an all time high of 16.10 percent in the second quarter of 2021 and a record low of -17.20 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 January of 2022.
GDP Annual Growth Rate in Malaysia is expected to be 3.00 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 5.00 percent in 2022 and 4.00 percent in 2023, according to our econometric models.