Gross domestic product (GDP) growth rate in Malaysia 2024

Gross domestic product (GDP) of Malaysia grew 4.74 percent in 2018 and was forecast to remain slightly below 5 percent for the medium term. This means that the Malaysian economy will double in size in approximately 15 years, according to the trend.

What affects GDP?

GDP is the sum of spending in a country by consumers, investors, and the government, plus net exports. High GDP growth is associated with low unemployment, because a growing economy demands a growing labor force. There are also inflationary pressures, but responsible monetary and fiscal policy can keep the inflation rate low.

GDP and development

Developmental economists focus more on GDP per capita than GDP. Looking at how much each member of the economy generates gives a general idea of the level of development, with strong correlations between this and other development indicators. If population growth is faster than GDP growth, residents in the country will be worse off, in spite of a growing economy.

Malaysia : Growth rate of the real gross domestic product (GDP) from 2014 to 2024

GDP growth compared to previous year
2024*4.9%
2023*4.84%
2022*4.84%
2021*4.9%
2020*4.4%
2019*4.5%
20184.74%
20175.74%
20164.45%
20155.01%
20146.01%
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Source

Release date

October 2019

Region

Malaysia

Survey time period

2014 to 2018

Supplementary notes

* Estimate.

Values have been rounded.

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Statistics on "Malaysia"

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