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Key economic indicators

A macroeconomic overview of Malaysia

Chart GDP

From 2014-2016, Malaysia experienced a modest slowdown in the economy with the real GDP growth rate falling from 6.0 pct. in 2014 to 4.2 pct. in 2016. In 2017, the real GDP growth rate was 5.9 pct., meaning Malaysia’s economy had returned to its previous level from 2014. The real GDP growth rate for 2017 exceeded the average growth rate for the period 2011-2017, which was 5.2 pct.

In 2017, the production increased 6.2 pct. in the service sector and 6.0 pct. in the manufacturing sector. With a share of 77.5 pct. of the total production in 2017, the service sector (54.5 pct.) and the manufacturing sector (23 pct.) were, and still are, the key contributors to the economy in Malaysia. Other sectors, which also contributed to the economy’s growth, were agriculture and construction where production increased with 7.2 pct. and 6.7 pct.

 

Selangor

WP KL

Sarawak

Johor

Sabah

Pulau Pinang

Share

23.0%

15.6%

9.7%

9.5%

6.8%

6.6%

Growth

7.1%

7.4%

4.7%

6.2%

8.2%

5.3%

In Malaysia, six states contributed 71.2 pct. to the national GDP in 2017. In four of the six states (Selangor, WP KL*, Johor and Sabah) were the state GDP growth rate higher than the national growth rate, with Sabah having the highest rate at 8.2 pct. The biggest contributors to the national GDP were Selangor and WP KL*, which contributed respectively 23 pct. and 15.6 pct. *(Including WP Putrajaya)

The private final consumption expenditure increased 7.0 pct. in 2017, which means that it amounted to 53.7 pct. of total GDP that year. The three biggest sectors in relation to private consumption were Food & non-alcoholic beverages, Communication and Housing & utilities.

The trade with foreign countries also improved in 2017, where import increased 10.9 pct. and export increased 9.4 pct.


 

LINKS

 

Contact

Joakim Larsen
Deputy Head of Mission, Head of Commercial Section
Phone: +60 3 2032 2001–19
E-mail: joalar@um.dk


Nina Hvid Talvela
Ministry Counsellor Food, Agriculture and Fisheries
Phone: +60 3 2032 2001-23
E-mail: nintal@um.dk


Shen Ho
Senior Commercial Advisor
Phone: +60 3 2032 2001–11
E-mail: shenho@um.dk

Joanne Looi
Commercial Advisor
Phone: +60 3 2032 2001–10
E-mail: joaloo@um.dk