Gross fixed capital formation shrank 14.5% to RM281.1b

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the contraction was mainly due to the COVID-19 pandemic which affected the investment of fixed assets for all economic activities.

KUALA LUMPUR: Malaysia’s Gross Fixed Capital Formation (GFCF), the second largest component of gross domestic product (GDP) with 20.9 per cent share to the total economy, contracted 14.5 per cent to RM281.1 billion (constant prices) last year as compared to 2019, the Department of Statistics Malaysia (DOSM) said.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the contraction was mainly due to the COVID-19 pandemic which affected the investment of fixed assets for all economic activities.