GDP

GDP of Malaysia in 2023 - Expenditure Approach, Sector Output, and Regional GDP

Last Updated: October 31, 2023
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GDP Summary

“Malaysia with a population of had a total GDP value of US dollars (calculated in current US dollars) for the whole of 2022. The GDP per capita is 12466, and the growth rate in 2022 is 8.7%.”

Population

31.95 million

Land Size

328550 km²

GDP

407.03 billion

GDP Per Capita

12466 USD

Real GDP Growth
Note: Real GDP Growth (%) | Forecast after 2023
GDP Per Capital (Nominal)
Note: Current USD | Forecast after 2023
GDP Per Capita (PPP)
Note: PPP | Forecast after 2023

GDP Structure (Expenditure Approach)

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption
57.6%
Government Expneidutre
11.7%
Capital Formation
18.2%
Export
77%
Import
69.7%
GDP Growth(By Type)
Note: Real GDP Growth (%) | Forecast after 2023

GDP Structure By Sector

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Agriculture
6.5%
Industry
35.7%
Manufacturing
23.9%
Service
57.8%
Economic Growth(By Sector)
Note: Real GDP Growth (%) | Forecast after 2023

Economic Development

The forecasted real GDP growth of Malaysia is projected to decelerate from 8.7% in 2022 to 4.5% in 2023 (IMF Forecast). This slowdown is anticipated due to the impact of a slowing global economy on external demand, despite an expected uptick in economic activity from China, which is Malaysia’s largest export partner. Domestically, demand is also predicted to decelerate, reflecting the negative impact of monetary policy tightening and a generalized downturn in investment spending by both local and foreign investors. The 2023 forecast takes into account a typical contraction in sequential growth in the first quarter due to the Lunar New Year holiday in both China and Malaysia, as well as a broad decline in overseas orders following the seasonal rush at the end of the previous year. In the second half of 2023, the anticipated influx of international tourists, including those from Chin...

Unemployment

3.8 %

Inflation

3.4 %

Urbanization

76.6 %

TFR

2 人

Unemployment Rate
Unit: %
Inflation Rate
Unit: %