Economy expected to grow 6.4% this year

Both the manufacturing sector and exports’ growth were bolstered further, mainly driven by the electrical and electronics (E&E) products upswing and surging palm oil prices also helped support the local economy.

THE economic path since the Covid-19 pandemic started in Malaysia is anything but a smooth one. Our economy suffered as the country went through three lockdowns (albeit with different levels of severity) in 2020, early 2021 and mid-June 2021.

As a result, Malaysia’s economic growth posted a deep contraction of 5.5% year-on-year (y-o-y) in 2020, and a slight recovery of 3.1% y-o-y in 2021.