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 (May21)1.0 1.0
Broad Money Growth 2 6.1 (Mar21)6.1 5.1
Headline Inflation Rate 3 4.7 (Apr21)1.7 -2.9
Industrial/ Manufacturing Production Growth Rate 3 9.3 (Mar21)1.5 -5.1
Merchandise Export Growth 3 72.1 (Apr21)72.1 37.0
Exchange Rate Index 4 110.0 (May21)109.9 115.7
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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