Chief statistician Datuk Seri Mohd Uzir Mahidin (pic) said the contraction was mainly due to the Covid-19 pandemic which affected the investment of fixed assets for all economic activities.
PETALING JAYA: Malaysia’s gross fixed capital formation (GFCF), the second-largest component of gross domestic product (GDP) with 20.9% share to the total economy, contracted 14.5% to RM281.1bil (constant prices) last year as compared to 2019, the Department of Statistics Malaysia said.
Chief statistician Datuk Seri Mohd Uzir Mahidin (pic) said the contraction was mainly due to the Covid-19 pandemic which affected the investment of fixed assets for all economic activities.
“The decline in 2020 was the biggest contraction recorded since the 1998 Asian Financial Crisis in which GFCF declined 43%,” he said in a statement yesterday.
