AEIR 2021

GDP contracted by 5.6% in 2020 due to the COVID-19 pandemic and as falling oil prices hurt exports. Mobility restrictions, rising unemployment, and falling wages dented domestic demand, with private consumption contracting by 2.5%. Similarly, investment shrank by 12.2% and exports by 8.8%. Consumer prices fell by 1.1% despite a cut in the overnight policy rate to 1.75% in July. The fiscal deficit widened to 6.2% of GDP from 3.4% in 2019 as government revenue declined by 14.9% in. GDP growth was forecast to rebound to 6.0% in 2021 before the mid-2021 surge in COVID-19 cases. GDP is forecast to grow by 5.7% in 2022.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 1.0 (Jul21)1.0 1.0
Broad Money Growth 2 3.8 (Jul21)3.8 3.4
Headline Inflation Rate 3 2.2 (Jul21)3.4 -1.3
Industrial/ Manufacturing Production Growth Rate 3 1.4 (Jun21)26.1 -0.4
Merchandise Export Growth 3 6.5 (Jul21)6.5 31.5
Exchange Rate Index 4 112.4 (Aug21)112.0 111.6
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.

Initiatives / FTAs

News