PETALING JAYA: Malaysia’s third quarter gross domestic product (GDP), which shrank 2.7% compared to a decline of 17.1% in the second quarter of the year, signals Malaysia’s path towards economic recovery, says Malaysian Rating Corp Bhd (MARC).MARC projected the full-year GDP forecast for 2020 to be between -4.5% and -5.5% before recovering to a growth of 6.3% to 6.7% in 2021, citing rebound by major trading partners that will aid recovery next year.
“Net exports played a critical role in improving third-quarter growth performance. Malaysia’s exports to China, Singapore and the US have improved after the resumption of economic activities since the second quarter, ” MARC said.
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