Page 11 - KLSCCCI Oct 2021 - eBulletin 402

经济看点

Malaysia's Economy

Slumps in Q3

"The growth outlook remains subject
Period-on-period change(%) to COVID-19 risk factors globally
and domestically, stability in
Real GDP Growth global financial markets and
20 gradual easing of supply
16.1 chain disruptions,"

15 BNM Governor
Nor Shamsiah Mohd Yunus
10
Malaysia’s GDP in the third quarter of 2021 showed a decrease of
5 4.5 per cent while the quarter-on-quarter seasonally adjusted GDP
contracted 3.6 per cent (Q2 2021: -1.9%). Correspondingly, the nation
monthly economic performance gradually improved from a
0 contraction of 7.6 per cent in July to a decline of 4.7 per cent in August
-0.5 and further improved to negative 1.1 per cent in September 2021.
-5 -2.7 -3.4 -4.5 Approaching year end, Malaysia’s economy grew 3.0 per cent for the
sum of three quarters of 2021 (3Qs 2020: -6.4%).
The economic performance in the third quarter of 2021 on the
-10 supply side was attributed by the downturn in all major economic
sectors mainly Manufacturing and Services sectors. Meanwhile, on the
demand side, all expenditure components experienced negative
performance except for Government final consumption expenditure.
All economic sectors registered contraction during the quarter,
led by the construction sector due to operating capacity limits.
Concluding the overall economic situation, the short-term
economic indicator, Leading Index (LI) in August 2021 signals that the
Malaysia’s economy is most likely to pick up in the upcoming months.
This is in line with the transition of more states under the National
Recovery Plan (NRP) and more economic activities are allowed to
Year on Year resume operations with compliance to Standard Operating
Quarter-on-quarter(seasonally adj.)
Procedures (SOPs). Moving forward, the economic recovery will be
backed by the long term global and national agendas throughout
3Q20 4Q20 1Q21 2Q21 3Q21 2021 to 2025 as outlined in the 12th Malaysia Plan and ultimately able
Souce: Department of Statistics, Malaysia to restore the economic growth momentum.

Real GDP Growth
20 Period-on-period change(%) 16.1

15
10 4.7 5.4 4.5 3.7
5 0.7
0
-2.7 -0.5
-5
-3.4 -4.5
-10
-15
-17.2 2020:-5.6%
-20 Growth
2019:4.4%

1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21
2019 2020 2021

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