Malaysia's Economy Plunged 17% in Q2 2020

(14 August 2020) Malaysia’s economy faltered in 2Q 2020 under the burden of COVID, with GDP growth falling by 17 percent, its worst dip since the Asian financial crisis in 1998. 

  • Malaysia is heavily dependent on trade, and both exports and imports took deep hits last quarter, falling by 21.7 percent and 19.7 percent YoY, respectively.
  • While private expenditures declined 18.4 percent (compared to growth of 6.7% in Q1), government expenditures grew 2.3 percent (compared to 4.9% in Q1) as the government sought to bolster the economy.

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