Malaysia GDP Annual Growth Rate2000-2021 Data | 2022-2023 Forecast | Calendar

Malaysia's economy advanced by 16.1% yoy in Q2 of 2021, rebounding sharply from a 0.5% contraction in Q1 and higher than market expectations of a 14.3% gain. This was the fastest growth in the economy since the series began in 2000, due to the reopening of more economic activities and a low base effect last year. Both household consumption (11.6% vs -1.5% in Q1) and fixed investment 16.5% vs -3.3%) recovered sharply. In addition, net external demand contributed positively to the GDP as both exports and imports surged 37.4% and 37.6%, respectively. Also, government spending grew faster (9.0% vs 5.9%). On the production side, output recovered for mining (13.9% vs -5%), services (13.4% vs -2.3%), construction (40.3% vs -10.4%), while manufacturing sectors expanded more (26.6% vs 6.6%). By contrast, production of agriculture fell (-1.5% vs 0.2%). On a seasonally adjusted quarterly basis, the economy shrank by 2.0%, reversing from a 2.7% rise in Q1.

Malaysia's economy contracted by 0.5% yoy in Q1 of 2021, after a 3.4% decline in Q4 2020 and better than market expectations of a 2.0% fall, due to the reopening of more economic activities in the wake of the Movement Control Order and following massive various stimulus packages by the government and central bank to support the recovery. Both household consumption (-1.5% vs -3.5% in Q4) and fixed investment (-3.3% vs -11.8%) shrank less. In addition, net external demand contributed positively to the GDP as both exports and imports grew 11.9% and 13.0%, respectively. At the same time, government spending accelerated (5.9% vs 2.4%). On the production side, output contracted less for mining (-5% vs -10.4%), services (-2.3% vs -4.8%), and construction (-10.4% vs -13.9%), while agriculture rebounded (0.4% vs -1%) and manufacturing sectors expanded faster (6.6% vs 3.0%). On a seasonally adjusted quarterly basis, the economy shrank by 2.7%, after a revised 1.5% drop in Q4.

Malaysia's economy shrank by 3.4% yoy in Q4 of 2020, after a marginally revised 2.6% contraction in Q3 and worse than market expectations of a 3.1% fall, reflecting the negative impact of measures taken both globally and domestically to contain the spread of the COVID-19 pandemic. Both household consumption (-3.4% vs -2.1%) and fixed investment (-11.9% vs -11.6%) fell faster. In addition, net external demand contributed negatively to the GDP as both exports and imports dropped, while government spending growth eased (2.7% vs 6.9%). On the production side, output contracted more for mining, services, agriculture, and construction, while manufacturing sectors grew less. On a seasonally adjusted quarterly basis, the economy shrank by 0.3%, after a record 18.2% growth in Q3. For 2020 as a whole, the economy shrank by 5.6%, the steepest contraction since the 1998 Asian financial crisis, reversing from a 4.3% expansion in 2019.

Malaysia's economy shrank by 2.7% year-on-year in the third quarter of 2020, after a 17.1% contraction in the previous quarter and better than market expectations of a 3.2% contraction, reflecting the negative impact of measures taken both globally and domestically to contain the spread of the COVID-19 pandemic. Household consumption fell 2.1% (vs -18.5% in Q2), while fixed investment plunged 11.6% (vs -28.9% in Q2). In addition, net external demand contributed negatively to the GDP as both exports and imports dropped, while government spending growth accelerated (6.9% vs 5.0%). On the production side, output contracted less for mining and quarrying, services, and construction, while manufacturing sectors rebounded sharply. Conversely, production of agriculture shrank. On a seasonally adjusted quarterly basis, the economy grew sharply by 18.2 percent, the most expansion since the series began in the second quarter 2000, rebounding from a 16.5 percent contraction in Q2.