Malaysia GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

Units In

5.3

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
16.1 Jun 2021	-17.2 Jun 2020	4.44 %	2000-2024	N/A

Malaysia is a developing economy in Asia which, in recent years, has successfully transformed from an exporter of raw materials into a diversified economy. The largest sector of the economy is services, accounting for around 54 percent of GDP. Manufacturing sector has been growing in recent years and now accounts for 25 percent of GDP and more than 60 percent of total exports. Mining and quarrying constitutes 9 percent of GDP and agriculture 9 percent.

Latest Updates

Malaysia’s economy grew 5% year-on-year in Q4 2024, surpassing initial estimates of 4.8% but slowing from an upwardly revised 5.4% in the previous quarter. This marks the slowest growth in three quarters, driven by weaker manufacturing output (4.4% vs. 5.6% in Q3) and contractions in agriculture (-0.5% vs. 4%) and mining (-0.9% vs. -3.9%). Meanwhile, construction growth accelerated (20.7% vs. 19.9%). On the expenditure side, growth moderated for government spending (3.3% vs. 4.9%) and fixed investment (11.7% vs. 15.3%) but edged higher for private consumption (4.9% vs. 4.8%). Net trade contributed positively to GDP, as exports rose 8.5% (vs. 11.8%) while imports grew at a softer 5.7% (vs. 13.5%). On a seasonally adjusted quarterly basis, the economy contracted 1.1%, its first decline since Q4 2023, following a revised 1.8% expansion in Q3. For the full year, Malaysia’s GDP grew 5.1%.