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. source: Department of Statistics, Malaysia
GDP Annual Growth Rate in Malaysia averaged 4.37 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 December of 2020.
GDP Annual Growth Rate in Malaysia is expected to be 1.50 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 4.50 in 12 months time. In the long-term, the Malaysia GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021, according to our econometric models.