Full-Year Growth: Malaysia’s economy expanded by 5.1% in 2024, surpassing 2023’s 3.6% growth and meeting the government’s target of 4.8%–5.3%.
GDP
4QCY24 Performance: GDP growth moderated to 5.0% YoY, slightly above market expectations and the initial estimate of 4.8%.
Current Account Surplus: Improved to RM11.4 billion (3QCY24: RM2.2 billion) due to stronger trade in goods and services, despite larger income account deficits.
2025 Outlook
GDP growth is expected to normalize to 4.6%, driven by domestic spending and external trade, without the low base effect that boosted last year’s recovery. – MIDF
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