AEIR 2019/2020

The economy grew by 4.3% in 2019, its slowest in a decade, down from 4.7% in 2018. Despite decelerating slightly, growth in private consumption remained robust at 7.6%, offsetting sluggish growth in exports and domestic investment. Inflation remained muted at 0.7% even with strong consumption and some monetary policy easing—the central bank cut its policy rate from 3.25% to 3.00% in May. Export earnings declined by 4.3% due to weaker global growth, the trade tensions between the United States and the People’s Republic of China, and lower commodity prices. With the COVID-19 outbreak disrupting supply chains and travel, exports of goods and services are expected to continue to contract. GDP growth is thus expected to drop to 0.5% in 2020 before recovering to 5.5% in 2021.
Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 1.0 (Jul20)1.0 1.0
Broad Money Growth 2 5.6 (Jun20)5.6 4.7
Headline Inflation Rate 3 -1.9 (Jun20)-2.9 1.5
Industrial/ Manufacturing Production Growth Rate 3 -22.1 (May20)-32.0 4.0
Merchandise Export Growth 3 6.0 (Jun20)6.0 -28.4
Exchange Rate Index 4 113.7 (Jul20)114.0 109.9
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Department of Statistics of Malaysia.

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