Malaysia: Navigating a challenging 2020

Lee Heng Guie Speaking at Quarterly Economy Tracker for the First Quarter Ong Soon Hin/The Star Reporter : Ganeshwaran

The Malaysian economy has withstood headwinds to grow by 4.6% in the first nine months of 2019 despite facing many disruptors and uncertainties, particularly a prolonged trade conflicts between the United States and China which had inflicted damage on global economy and trade since 2018.

Nevertheless, growth momentum had moderated from an annual rate of 4.9% in 2Q 2019 to 4.4% in 3Q as domestic demand cooled (to 3.5% in 3Q 2019 from 4.6% in 2Q 2019 and 6.8% in 3Q 2018). Adding to the growth pressure was the continued sluggishness in exports, which had contracted by 1.8% in January-October.