Page 20 - KLSCCCI Nov 2021 - eBulletin 401

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Economic Outlook 2022:

GDP to expand 5.5%-6.5%

The country's economic growth is expected
to accelerate to 5.5%-6.5% in 2022 from 3%-4% in
2021, boosted by the continuation of the various
stimulus and assistance packages to combat
Covid-19.
The growth trajectory in 2022 will also be
based on expectations of further expansion in
global and domestic activities, fuelled by broader
vaccine coverage and a further improvement in Borrowing and Usage of
goods trade amid a slower recovery in services trade. Government’s Property
The Malaysian economy expanded by 7.1% 26.5％
in the first half of 2021, growth is expected to
continue in the second half of the year, particularly
in the fourth quarter, as more economic and
social sectors operate at full swing. Year 2021
Top 10 Trading Partners Taxes

January–August 2021 (% share) RM322.5 40.9％
billion

Exports
RM778.5 15.2%
billion
29.0%
Indirect taxes
14.0% 13.2％ Non-tax Revenue
19.4％
3.0%
3.3% 11.6%
3.4% Sources of Revenue
3.7%
4.4% 6.1% 6.3% Borrowing and Usage of
Government’s Property
CHINA HONG KONG TAIWAN 29.5％
SINGAPORE THAILAND REPUBLIC OF KOREA
US VIET NAM REST OF THE WORLD Indirect taxes 13.3％
JAPAN INDIA Other taxes 2.6％

Imports
RM628.3 23.4%
billion 24.5% Year 2022
RM332.1
2.7%
2.7% 9.1% billion Taxes
4.6% 35.7％
4.9% 7.7%
5.5% 7.6%
7.5%

CHINA TAIWAN INDIA Non-tax Revenue
SINGAPORE INDONESIA GERMANY 18.9％
JAPAN REPUBLIC OF KOREA REST OF THE WORLD
US THAILAND

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