PETALING JAYA: The impact of the global supply crisis is expected to become more significant in the third quarter of this year, particularly on price stability, industrial operating costs and the labour market, says Economy Minister Akmal Nasrullah Mohd Nasir.
This, he said, was because the impact of the global crisis in the previous quarter had remained limited, supported by strong gross domestic product (GDP) growth and overall resilient domestic economic performance.
Malaysia’s GDP expanded by 5.4% in the first quarter of 2026, exceeding advance estimates of 5.3%.
“The country’s economy remains on a strong footing and continues to demonstrate resilience in facing an increasingly challenging global environment.
“The global supply pressures are being closely monitored as their impact does not necessarily occur immediately but may be transmitted gradually to goods prices, industrial operating costs, employment and household spending,” he told a press conference on the global energy crisis on Tuesday (May 19).
Akmal Nasrullah added that Malaysia’s GDP growth is also better than that of several other major global economies.
“From the labour market perspective, employment performance remains strong, with the unemployment rate maintained at the full employment level of 2.9%.
“This shows that domestic economic fundamentals remain stable despite the increasingly challenging global environment, and these figures will serve as a basis for earlier, more structured, proactive and responsive action,” he said.
He also said the government would continue to implement targeted interventions to ensure people are not left affected without appropriate support, particularly in ensuring sufficient basic supply, price stability and assistance reaching those who truly need it.
Meanwhile, he said Malaysia’s financial markets remained stable despite ongoing developments in global energy markets, with only slight movements recorded in the Bursa Malaysia index.
“This indicates that investor sentiment remains cautious, but there has been no sudden market disruption,” he said.
Global energy conditions also remained relatively stable, with gas prices rising only slightly while coal prices eased.
“The average price of liquefied natural gas (LNG) increased slightly by 1.7%, from US$17.41 per million BTU to US$17.71 per million BTU.
“This increase indicates that the global gas market remains under control, with sufficient inventories available across major markets worldwide.
“In the energy sector, coal prices recorded a decline of 1.3%, from US$133.19 per metric tonne to US$131.50 per metric tonne, indicating that global coal supply and demand remain balanced, particularly for the electricity generation sector in Asia,” he said.
He added that the average price of Brent crude increased moderately by 3.5%, from US$106.16 per barrel for the period May 5 to 8, 2026, to US$109.85 per barrel.
“During the same period, Brent crude prices were also observed to be trading within a relatively high range, between US$105.62 per barrel and US$112.15 per barrel.
“This movement reflects a market that remains sensitive to geopolitical risks and expectations of global energy demand, particularly from major Asian economies,” he said.
