Malaysia Gdp Growth 2016
Malaysia s economy as measured by gross domestic product gdp expanded 4 5 in 2016 s fourth quarter 4q from a year earlier on domestic private expenditure and export growth.
Malaysia gdp growth 2016. Gdp growth rate in malaysia averaged 0 94 percent from 2000 until 2020 reaching an all time high of 5 50 percent in the third quarter of 2002 and a record low of 16 50 percent. 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. Looking forward we estimate gdp annual growth rate in malaysia to stand at 4 50 in 12 months time.
In 2015 gdp grew 5 on year according to bank negara malaysia s statement today. Global trade growth moderated. Gdp growth annual malaysia.
The economy of malaysia is the sixth largest in southeast asia according to the international monetary fund it it also the 39th largest economy in the world. World bank national accounts data and oecd national accounts data files. Gdp plunged 17 1 year on year in the second quarter contrasting the 0 7 expansion recorded in the first quarter and marking an all time low as fallout from the pandemic hammered activity.
The growth was driven by the increase in manufacturing and services as well as rebound in the agriculture sector. This performance was supported by a better growth recorded by most states in malaysia. The 4 5 growth in the fourth quarter of 2016 and the 4 2 expansion in 2016 were within the range projected by treasury.
Malaysia has a newly industrialised market economy which is relatively open and state oriented. In 2016 4q private consumption and investment grew 6 2 and 4 9. Q2 s reading was far below market expectations and marked the worst result in the asean.
Malaysia s economy shrank by 16 5 percent quarter on quarter in the june quarter of 2020 the most contraction since the series began in the second quarter 2000 after a 2 percent contraction in the previous quarter. Bnm said going forward the global economy was expected to improve but. The malaysian economy is highly robust and diversified with the export value of high tech products in 2015 standing at us 57 258 billion.
Private consumption is expected to continue driving economic growth supported by low unemployment and government income support measures. Malaysia s economic growth has slowed down but remains resilient to external challenges. As a result the imf revised the global growth projection downwards from 3 4 in january 2016 to 3 1 in october 2016.
Kuala lumpur feb 16. Full year gdp grew 4 2 from a year earlier. Malaysia s economic performance expanded to 5 9 per cent in 2017 as compared to 4 2 per cent in 2016.
The performance of state s economy 2017.
