2020. Malaysia GDP per capita - values, historical data and charts - was last updated on July of 2020. source: World Bank In line with the projected improvement in global growth, the Malaysian economy is expected to register a positive recovery in 2021,” BNM said.© All rights reserved. The World Bank Group works in every major area of development.

― Bernama No Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress.Global data and statistics, research and publications, and topics in poverty and development "The adverse impact on low-income households is particularly acute, imperilling the significant progress made in reducing extreme poverty in the world since the 1990s,” the IMF said.Bank Negara Malaysia (BNM) said in its Economic & Monetary Review 2019 report that against the highly challenging global economic outlook, it projected Malaysia’s GDP growth to be between -2% and 0.5% in 2020.According to the central bank, risks to global growth were tilted to the downside, mainly reflecting significant uncertainties surrounding the Covid-19 pandemic. While household expenditure and business investment spending are expected to improve gradually, they are likely to remain subdued throughout the year due to high levels of uncertainty. Malaysia's real gross domestic product (GDP) growth will decelerate to 4.3% in 2020, below the government's forecast of 4.8%, due to weaker external trade performance and softer domestic demand growth, according to Malaysian Rating Corp Bhd (MARC). MIDF Research lowers Malaysia 2020 GDP growth forecast to 1pc Monday, 13 Apr 2020 11:42 AM MYT Malaysia’s gross domestic product (GDP) has been lowered to one per cent from 2.7 per cent, anticipating the first half 2020 (1H 2020) data to be more precarious than before.

The sizeable fiscal, monetary and financial measures and progress in transport-related public infrastructure projects will provide further support to growth in 2H20. “Malaysia’s challenge is creating more space on the operating side to inject cash into the economy, while facing pressure on the revenue side. "When these containment measures are eased and the domestic MCO (movement control order) is lifted, economic activity is expected to gradually improve in 2H20. In 2020, Malaysia’s GDP is projected to decline by 3.1 percent this year from 4.3% in 2019, mainly reflecting a sharp slowdown in economic activity during the first half of 2020. For 2021, global growth is projected at 5.4%. However, economic growth is expected to rebound in 2020 with improvement in public corporations' capital outlays," read the report. These restrictions will adversely affect private consumption and investment along with external trade performances,” it said in a note today.Nevertheless, MIDF Research expected recovery in 2H 2020 as fears from Covid-19 subsides.Overall, the economic growth will be influenced by various internal and external factors, including disruption in global production and consumption following Covid-19, recession fears, global financial stability, oil price war, inflationary pressure and labour market performance, it said.“We remain cautious that if the pandemic lasts until year-end, the economy will contract,” it added.On private investment, the research house anticipated it to fall by six per cent year-on-year (y-o-y) for 2020 versus 1.5 per cent y-o-y in 2019,  weighed by weak demand and business sentiments.As Covid-19 and the US-China trade war continued to threaten external trade performance, the research house forecast both exports and imports growth of Malaysia to contract further in 2020.Exports growth is expected to contract -7.2 per cent year-on-year (y-o-y) from -1.7 per cent y-o-y in 2019, while imports growth to contract -6.7 per cent y-o-y in 2020 versus -3.5 per cent y-o-y in the previous year, it said.“Covid-19 is disrupting global supply chain resulting from lower Chinese and Asian factory output,” it said.On the mining sector, MIDF Research foresees it to contract further by 2.8 per cent y-o-y from 1.5 per cent y-o-y in a year earlier, as the sector had been influenced by the volatility in commodity prices.While agriculture sector’s growth is expected to experience a slight drop of 0.5 per cent y-o-y, despite higher average price estimated for crude palm oil (CPO) at RM2,450 per tonne (2019: RM2,079 per tonne).“Pressure will be more on the demand side, from India, China and the European Union,” it said.However, MIDF Research noted the government’s additional spending is anticipated to cushion the Malaysian economy from any adverse impacts, thanks to the (RM260 billion) Economic Stimulus Package comprise of one-off cash assistance, digital vouchers, energy discounts, special allowances to front-liners and wage subsidy would increase government consumption.“Therefore, we foresee public consumption to expand higher by six per cent y-o-y for 2020 from two per cent y-o-y in 2019.“Meanwhile, government investment is expected to recover marginally with softer negative growth of -9.7 per cent y-o-y (2019: -10.8 per cent y-o-y) due to mega-projects,” it said.However, the research house cautioned that the fiscal space is likely to be somehow limited by lower crude oil prices.“Furthermore, government’s priority in combating the spread of Covid-19 might delay other public investment activities,” it said.

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