Malaysia’s economy expanded by 5.3% year-on-year in the third quarter of 2024, in line with preliminary estimates but easing from 5.9% growth in the previous quarter. The slowdown was attributed to a softer production growth in the services sector (5.2% vs. 5.9% in Q2) and agriculture (3.9% vs. 7.3%), and a contraction in mining & quarrying (-3.9% vs. 2.7%). In contrast, manufacturing (5.6% vs. 4.7%) and construction (19.9% vs. 17.3%) saw accelerated growth. On the expenditure side, private consumption moderated (4.8% vs. 6%), while growth picked up for government spending (4.9% vs. 3.6%) and fixed investments (15.3% vs. 11.5%). Net external trade also contributed negatively to GDP, as imports advanced 13.5% (vs. 8.7%), while exports rose at a slower pace of 11.8% (vs. 8.4%). On a seasonally adjusted quarterly basis, GDP expanded 1.8%, down from 2.9% in the prior quarter. source: Department of Statistics, Malaysia

The Gross Domestic Product (GDP) in Malaysia expanded 5.30 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Malaysia averaged 4.46 percent from 2000 until 2024, reaching an all time high of 16.20 percent in the second quarter of 2021 and a record low of -16.90 percent in the second quarter of 2020. This page provides - Malaysia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

The Gross Domestic Product (GDP) in Malaysia expanded 5.30 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Malaysia is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Malaysia GDP Annual Growth Rate is projected to trend around 3.50 percent in 2025 and 3.80 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-21 04:00 AM YoY Prel Q3 5.3% 5.9% 4.9%
2024-11-15 04:00 AM YoY Final Q3 5.3% 5.9% 5.3% 5.3%
2025-01-17 04:00 AM YoY Prel Q4 5.3% 6%


Related Last Previous Unit Reference
Full Year GDP Growth 3.70 8.70 percent Dec 2023
GDP Growth Rate YoY 5.30 5.90 percent Sep 2024
GDP Constant Prices 419168.00 400736.00 MYR Million Sep 2024
GDP from Agriculture 29134.00 25222.00 MYR Million Sep 2024
GDP from Construction 17520.00 16143.00 MYR Million Sep 2024
GDP from Manufacturing 97432.00 93369.00 MYR Million Sep 2024
GDP from Mining 22253.00 23808.00 MYR Million Sep 2024
GDP from Services 247547.00 237551.00 MYR Million Sep 2024
GDP Growth Rate 1.80 2.90 percent Sep 2024
Gross Fixed Capital Formation 89336.00 89027.00 MYR Million Sep 2024
Gross National Product 409.00 393.70 MYR Billion Sep 2024

Malaysia GDP Annual Growth Rate
Malaysia is a developing economy in Asia which, in recent years, has successfully transformed from an exporter of raw materials into a diversified economy. The largest sector of the economy is services, accounting for around 54 percent of GDP. Manufacturing sector has been growing in recent years and now accounts for 25 percent of GDP and more than 60 percent of total exports. Mining and quarrying constitutes 9 percent of GDP and agriculture 9 percent.
Actual Previous Highest Lowest Dates Unit Frequency
5.30 5.90 16.20 -16.90 2000 - 2024 percent Quarterly
Constant 2015=100, NSA


News Stream
Malaysia Q3 GDP Growth Confirmed at 5.3%
Malaysia’s economy expanded by 5.3% year-on-year in the third quarter of 2024, in line with preliminary estimates but easing from 5.9% growth in the previous quarter. The slowdown was attributed to a softer production growth in the services sector (5.2% vs. 5.9% in Q2) and agriculture (3.9% vs. 7.3%), and a contraction in mining & quarrying (-3.9% vs. 2.7%). In contrast, manufacturing (5.6% vs. 4.7%) and construction (19.9% vs. 17.3%) saw accelerated growth. On the expenditure side, private consumption moderated (4.8% vs. 6%), while growth picked up for government spending (4.9% vs. 3.6%) and fixed investments (15.3% vs. 11.5%). Net external trade also contributed negatively to GDP, as imports advanced 13.5% (vs. 8.7%), while exports rose at a slower pace of 11.8% (vs. 8.4%). On a seasonally adjusted quarterly basis, GDP expanded 1.8%, down from 2.9% in the prior quarter.
2024-11-15
Malaysia Q3 GDP Growth Eases to 5.3%
Malaysia's economy advanced by 5.3% yoy in Q3 of 2024, slowing from the strongest rise in six quarters of 5.9% in Q2, flash data showed. Expansion in the services sector moderated (5.1% vs 5.9% in Q2) but all sub-groups rose positively. In addition, agricultural output notably slowed (4.0% vs 7.2%), mainly weighed by a contraction in the fishing sub-sector. Simultaneously, mining and quarrying activity shrank (-3.4% vs 2.7%), due to declines in natural gas and crude oil & condensate. In contrast, output accelerated for manufacturing (5.7% vs 4.7%), lifted by electrical, electronic, and optical products. Meanwhile, robust construction activity continued (19.5% vs 17.3%), buoyed by specialized construction activities and non-residential buildings. On a seasonally adjusted basis, GDP grew 4.6%, a strong pick-up from a downwardly revised 0.8% growth in Q2. During the first three quarters of 2024, the economy expanded 5.1%, much stronger than a 3.8% rise in the same period of 2023.
2024-10-21
Malaysia Q2 GDP Growth Revised Slightly Higher
Malaysia's economy expanded 5.9% yoy in Q2 of 2024, compared with flash data of a 5.8% growth and a 4.2% rise in Q1. It was the highest GDP growth since Q4 of 2022, amid solid output across all sectors. Services activity accelerated (5.9% vs 4.8% in Q1), boosted by wholesale & retail trade. Also, manufacturing output picked up (4.7% vs 1.9%), lifted by non-metallic minerals, basic metal & fabricated metals; and petroleum, chemical, and rubber & plastics. Moreover, agriculture output jumped considerably (7.2% vs 1.7%), led by palm oil and livestock. Meantime, construction output gained momentum (17.3% vs 11.9%), buoyed by civil engineering and specialized construction. That said, mining and quarrying activity eased (2.7% vs 5.7%), due to moderation in natural gas. On a seasonally adjusted basis, the GDP advanced 2.9% qoq, accelerating from an upwardly revised 1.5% growth in Q1. During H1, the economy grew by 5.1%, stronger than a 4.1% rise in the same period of 2023.
2024-08-16