The cut-off date for data and information used in the Economic Survey is 25 June 2019. Since gaining independence in 1957, Malaysia has successfully diversified its economy from one that was initially agriculture and commodity-based, to one that now plays host to robust manufacturing and service sectors, which have propelled the country to become a leading exporter of electrical appliances, electronic parts and components. growth. Last updated: April 2020. The government estimated the growth of the construction sector will moderate to 4.5% in 2018 from 6.7% in 2017. Online tool for visualization and analysis. authorities. Reforms to public service will help enable future growth and shared prosperity. Gross Domestic Product by state. The following table is the list of the GDP of Malaysian states released by the Department of Statistics Malaysia. “In 2019, the sector is expected to improve marginally following an increase in new planned supply in the affordable homes and industrial segments,” said the report. Support from the governments of Japan and Malaysia is gratefully acknowledged. 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. Malaysia has the highest debt levels in the region (56.3% of GDP in 2019, IMF), with spending increasing faster than GDP. DataBank. The forecast growth of the sector in 2019 … CSV XML EXCEL. Disruption to global The Economic Survey is published under the responsibility of the Secretary-General of the OECD. Moreover, Q3’s reading beat market analysts’ expectations of a 3.2% contraction. Malaysia remains the world's fourth-largest producer of cocoa. The role of the mining sector, which once played a very important role in Malaysian exports, is also declining. PUTRAJAYA, July 1, 2019 – Malaysia’s economy is expected to grow at 4.6 percent in 2019, according to the 20 th edition of the World Bank’s Malaysia Economic Monitor, launched today. WDI Tables. Nevertheless, the share of agriculture in the GDP declined from 29 percent in 1970 to 12 percent in 1998. KUALA LUMPUR: Malaysia’s economic growth in the fourth quarter of 2018 (4Q18) has surpassed expectations, as the country’s gross domestic product (GDP) grew 4.7% year-on-year (y-o-y). Notwithstanding the steady economic performance, the balance of risks to outlook remains on the downside as Malaysia has a high degree of openness. Malaysia - GDP GDP drops at a less pronounced pace in Q3. GDP slid 2.7% year-on-year in Q3, falling at a significantly softer pace than Q2’s pandemic-induced plunge of 17.1%, amid the easing of Covid-19-associated restrictions and firming foreign demand. Thematic data tables from WDI. The previous Economic Assessment of Malaysia was issued in November 2016. State or Federal Territory 2019 GDP (RM Million) 2018 GDP (RM Million) 2017 GDP (RM Million) 2016 GDP (RM Million) 2015 GDP (RM Million) The GDP expansion of 4.7% (y-o-y) in the first half of 2019 is expected to continue for the rest of the year while improving marginally to 4.8% in 2020. In 2014 the service sector contributed 56.2% while the industry and agriculture sectors contributed 36.8% and 7.1% respectively. ... 1961 - 2019 GDP (constant 2010 US$) ... GDP per capita growth (annual %) Download. Selected Countries and Economies. GDP growth (annual %) - Malaysia from The World Bank: Data. 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