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Malaysia GDP growth in 2019 in line with neighbouring countries

Christian Fernsby ▼ | February 17, 2020
Malaysia’s modest gross domestic product (GDP) growth of 4.3 percent in 2019 is considered better than some of its neighbours, said Economic Affairs Minister Seri Azmin Ali.
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Economy in Malaysia   Malaysia street
Other ASEAN countries, while most of it registered higher growth, had missed their 2019’s projection.

Topics: Malaysia GDP

Last year, Singapore’s economy grew 0.7 percent, the slowest in a decade, while the Philippines missed its 6.0 to 6.5 percent target to register 5.9 percent GDP expansion, the lowest in eight years, he said, adding Indonesia’s GDP rose 5.02 percent, short of the government’s 5.3 percent target.

Azmin said the trend was also seen in parallel with the growth of other Asian countries.

The overall performance of the Malaysian economy was moderated by the slowdown in the global economy in line with the slowdown in global trade activity, he explained.

Azmin said domestic economic growth prospects for 2020 might be affected by the recent coronavirus disease (COVID-19) outbreak, which may cause global supply disruption.

The sectors that will be impacted include tourism, transportation and manufacturing industries.