Gross domestic product (GDP) of Malaysia grew 3.56 percent in 2023 and was forecast to remain around 4 percent for the medium term. What affects GDP? GDP is the sum of spending in a country by consumers, investors, and the government, plus net exports. High GDP growth is associated with low unemployment, because a growing economy demands a growing labor force. There are also inflationary pressures, but responsible monetary and fiscal policy can keep the inflation rate low. GDP and development Developmental economists focus more on GDP per capita than GDP. Looking at how much each member of the economy generates gives a general idea of the level of development, with strong correlations between this and other development indicators. If population growth is faster than GDP growth, residents in the country will be worse off, in spite of a growing economy.

The gross domestic product (GDP) per capita in Malaysia was forecast to continuously increase between 2024 and 2029 by in total 4,449.3 U.S. dollars (+33.85 percent). After the sixth consecutive increasing year, the GDP per capita is estimated to reach 17,591.66 U.S. dollars and therefore a new peak in 2029. This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).Find more key insights for the gross domestic product (GDP) per capita in countries like Cambodia, Singapore, and Philippines.

Consumer Spending in Malaysia decreased to 253105 MYR Million in the fourth quarter of 2024 from 258519 MYR Million in the third quarter of 2024. This dataset provides - Malaysia Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows the average inflation rate in Malaysia from 1987 to 2023, with projections up to 2029. In 2023, the average inflation rate in Malaysia amounted to about 2.49 percent compared to the previous year.

Malaysia's economy is slowly recovering

The inflation rate is the annual rate of increase of a price index, normally the consumer price index over time. If the same item bought today for 1 U.S. dollar is bought again one year from now, but for 1.03 U.S. dollars, then the inflation rate is at 3 percent. Generally, a low inflation rate is sought by every country, and a rate of 3 percent, as is estimated for Malaysia in the next few years, is considered low. However, there was a slight rise in Malaysia’s inflation rate, from close to 2 percent in 2010 to a little over 3 percent in 2011. In 2012, it dropped back down to its normal rate, but future estimates predict a slight increase once again. Perhaps this increase has come from initial worries concerning the country’s slowing economy as the country’s GDP growth slowed from 7.43 percent in 2010 to 5.19 percent in 2011, or its negative budget balance in relation to GDP which was at its recent worst in 2010 at -4.66 percent. At the same time, the country’s national debt was also rising, but predictions show that this trend is reversing. Yet, the economic outlook and inflation rate still appear stable for the future of Malaysia, and the inflation rate is below the global inflation rate. Furthermore, the country’s GDP continues to rise and totaled 326.93 billion U.S. dollars in 2013.

In 2022, the estimated total GDP of all ASEAN states amounted to approximately 3.67 trillion U.S. dollars, a significant increase from the previous years. In fact, the GDP of the ASEAN region has been skyrocketing for a few years now, reflecting the region’s thriving economy. Power in the EastThe Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. It was established in 1967 among five of these countries (Indonesia, Malaysia, Thailand, Singapore, and the Philippines) to facilitate trade and economic growth, as well as promote cultural development and social structures in the region. To date, they have been joined by another five nations. The ASEAN marketThe founding of the ASEAN organization provides the collaborating nations with more autonomy and influence on the global economy than they would have had by themselves. Additionally, struggling participating countries, such as Laos, are given an opportunity to grow on an ASEAN single market.

Producer Prices in Malaysia increased 0.80 percent in January of 2025 over the same month in the previous year. This dataset provides - Malaysia Producer Prices Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The growth of the real gross domestic product (GDP) in the Philippines was forecast to increase between 2024 and 2029 by in total 0.6 percentage points. This overall increase does not happen continuously, notably not in 2029. The growth is estimated to amount to 6.31 percent in 2029. As described by the International Monetary Fund, this indicator describes the annual change in the gross domestic product at constant prices. This is expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Vietnam, Laos, and Malaysia.

Tourism is one of the most important sectors in a tropical country that offers a rich landscape and cultural heritage like Malaysia. In 2023, the tourism sector directly contributed more than 81 billion Malaysian ringgit to the country’s gross domestic product (GDP). Despite the severe impact of COVID-19 pandemic in 2020 and 2021, which resulted in major loss to the GDP, the tourism sector in Malaysia has shown great improvement in the past year. Increase in inbound tourism Although the number of international tourists who came to Malaysia significantly decreased when the pandemic hit, 2023 showed that the industry has almost fully recovered. In that year, Malaysia welcomed more than 20 million visitors, a number that was only slightly below the number of tourists in 2019. The Malaysian Ministry of Tourism, Arts and Culture forecasted that the number of inbound tourists could surpass 27 million people in 2024. Visit Malaysia 2026 With a promising outlook in the tourism sector, the Malaysian government announced the Visit Malaysia 2026 campaign to further boost the industry. Through branding and promotion on various media channels, including social media platforms, the campaign aimed to attract 35.6 million tourists and generate more than 147 billion Malaysian ringgit in tourism receipts in 2026. This is nearly twice the amount of the inbound tourism expenditure in Malaysia in 2023.

Malaysia Stationery Market size was valued at USD 9.05 Billion in 2023 and is projected to reach USD 15.3 Billion by 2030, growing at a CAGR of 5.2% during the forecast period 2024-2030.

Malaysia Stationery Market Drivers

The growth and development of the Malaysia Stationery Market is attributed to certain main market drivers. These factors have a big impact on how integrated gas systems are demanded and adopted in different sectors. Several of the major market forces are as follows:

Education Sector Growth: There is a constant need for stationery products including notebooks, pencils, pens, and other writing instruments as Malaysia’s education sector grows. This is a result of government attempts to upgrade educational infrastructure as well as rising rates of enrollment in colleges and universities.
Office Sector Expansion: Paper, files, folders, staplers, and other office necessities are always needed for administrative purposes due to the rise in enterprises and offices in Malaysia.
Economic Growth: Consumer spending power is strongly impacted by Malaysia’s overall economic growth. In times of economic expansion, people and companies typically spend more on stationery items for office supplies, personal use, and gift-giving.
Technological Integration: Stationery is still a necessary part of many industries, even with the advances in technology. Even though certain traditional stationery items have been influenced by digitalization, there is still a need for specialty stationery products that meet particular needs. Examples of these products include art supplies, premium paper products, and specialist writing instruments.
Shifting Consumer Preferences: As a result of the growing emphasis on product quality, sustainability, and environmental friendliness, consumer preferences are changing. The need for eco-friendly stationery products, like recycled paper, biodegradable pens, and sustainable packaging, is being driven by this trend.
Growth of E-commerce: The emergence of e-commerce platforms has increased the accessibility of stationery products for customers throughout Malaysia, even those residing in distant places. The market for stationery is expanding due in part to the ease of shopping online and the abundance of options available.
Government Initiatives: The stationery market may benefit from government policies and programs that support small and medium-sized businesses (SMEs), entrepreneurship, and education. Initiatives that offer grants or subsidies for office supplies or school supplies, for example, can increase demand for stationery products.
Trends and Cultural Considerations: The stationery market is influenced by both cultural trends and considerations. For instance, there is a growing market for specialty stationery items that appeal to the interests of calligraphy, art therapy, and bullet journaling.

In 2022, ethnic Chinese households had the highest mean monthly household income in Malaysia, at around 10.66 thousand Malaysian ringgit. This was more than three thousand ringgit higher than Bumiputera households. Despite the implementation of affirmative action through Article 153 of the Malaysian constitution, the economic position of the Bumiputera vis-à-vis other ethnicities still left much room for improvement.

Historical policies, ethnicity, and the urban-rural divide The Bumiputera make up the majority of the Malaysian population, yet have one of the lowest average monthly household incomes in Malaysia. This economic disparity could be explained by the effects of colonial policies that kept the Bumiputera largely in the countryside. This resulted in an urban-rural divide that was characterized by ethnicity, with the immigrant Chinese and Indian laborers concentrated in the urban centers, a demographic pattern that is still evident today.

There was a considerable difference in urban and rural household incomes in Malaysia, with urban household income being around 3.6 thousand ringgit more than rural households. This was largely due to the fact that wages in urban areas had to keep up with the higher cost of living there. This thus impacted the average monthly incomes of the largely rural-based Bumiputera and the largely urban-based ethnic Chinese. This visible wealth inequality has led to racial tensions in Malaysia, and it is still one of the problem in the country amidst a new government led by Prime Minister Anwar Ibrahim, who was elected in 2022.

In 2022, the gross domestic product from palm oil was estimated to be 36 billion Malaysian ringgit. Malaysia is one of the world’s leading producers of palm oil, and the palm oil industry is a significant contributor to the Malaysian agricultural sector.

The world’s most widely used edible oil

Palm oil is used in a variety of consumer goods, from cosmetics to confectionery. Certain properties of palm oil, such as its resistance to oxidation and stability at high temperatures, make it suitable to be used in shelf-stable consumer goods. Worldwide consumption of palm oil had continued to increase over the years, despite the growing awareness of the environmental costs of palm oil cultivation, especially in its leading producers globally, Indonesia and Malaysia.

Malaysian efforts for sustainable palm oil

Malaysia had undertaken efforts to assure consumers of the sustainability of their palm oil. The Malaysian Palm Oil Association is one of the founding members of the Roundtable on Sustainable Palm Oil, a non-profit that seeks to develop and implement environmentally friendly standards in the production of palm oil. These measures have led to an increase in certified sustainable palm oil production areas. However, it has yet to reduce the size of land cleared for palm oil plantations without proper assessment of the environmental impact, thus threatening Malaysia’s rainforests and wildlife.

In 2023, the private final consumption expenditure (FCE) on food and non-alcoholic beverages in Malaysia was estimated to amount to 16.2 percent in relation to the gross domestic product (GDP). The expenditure on such items as a share of Malaysia's GDP slightly increased compared to the previous year.

The health expenditure as a share of gross domestic product in Malaysia increased by 0.3 percentage points (+7.35 percent) compared to the previous year. Therefore, the share in Malaysia reached a peak in 2021 with 4.38 percent. This indicator estimates current health expenditures, including healthcare goods and services consumed during each year. This indicator does not include capital health expenditures such as buildings, machinery, IT, and stocks of vaccines for emergency or outbreaks. The level of current health expenditure is expressed as a share of GDP.Find more statistics on other topics about Malaysia with key insights such as female smoking rate, share of children aged 12-23 months immunized against diphtheria, pertussis and tetanus (DPT), and total fertility rate.

The statistic shows gross domestic product (GDP) per capita in the ASEAN countries from 2019 to 2022, with projections up until 2029. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. The ASEAN (Association of Southeast Asian Nations) region in Asia comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. In 2022, GDP per capita in Brunei amounted to around 37,452.92 U.S. dollars.

The population in Malaysia grew to 32.52 million people in 2019. This is in line with a steady positive trend that has been happening since at least 2016 and is forecast to continue until at least 2029, as well as with the growth rates in other ASEAN countries.

Malaysian demographics

As the fertility rate slowly declines, the population growth rate should slowly decline as well. However, since life expectancy is also slowly increasing, this can still fuel population growth, as we see in this statistic. In Malaysia, this is leading to a healthy age structure, with a large group of working-age people who are able to support a smaller number of old and young people.

Economic effects

A growing population should lead to an increasing gross domestic product (GDP), simply because more people means more consumers and workers. This is especially effective if the country is at full employment. Given the generally low level of unemployment in Malaysia, it is fairly safe to assume that this is true.

Malaysia Average Capacity Utilization Rate by Mills: Perak data was reported at 112.490 % in Oct 2018. This records an increase from the previous number of 109.710 % for Sep 2018. Malaysia Average Capacity Utilization Rate by Mills: Perak data is updated monthly, averaging 96.380 % from Dec 1994 (Median) to Oct 2018, with 287 observations. The data reached an all-time high of 132.460 % in Aug 2000 and a record low of 61.930 % in Dec 1994. Malaysia Average Capacity Utilization Rate by Mills: Perak data remains active status in CEIC and is reported by Malaysian Palm Oil Board. The data is categorized under Global Database’s Malaysia – Table MY.B022: Palm Oil Statistics.

The real interest rate in Malaysia increased by 9.7 percentage points compared to the previous year. Therefore, the real interest rate in Malaysia reached a peak in 2023 with 7.32 percent. Real interest rate is the adjusted lending interest rate to remove the effects of inflation, as measured by the GDP deflator (implicit price deflator).Find more statistics on other topics about Malaysia with key insights such as number of automated teller machines (ATMs), deposit interest rate, and broad money as a percentage of GDP.

According to a survey on consumers' sentiment in Malaysia, as of June 2023, 37 percent of respondents stated that their spending on household groceries and provisions have increased in the past year. Meanwhile, 27 percent of respondents said that their spending on food delivery or takeaway had increased.

In 2023, there were approximately 20 million tourist arrivals in Malaysia, an increase from around ten million in the previous year. The country finally reopened its border in April 2022, after two years of travel restrictions which severely impacted the number of tourists coming to the country.

The importance of tourism industry

Tourism is an important economic sector in Malaysia, contributing around 102 billion Malaysian ringgit to its GDP before the pandemic hit. This sector also provided employment to about 3.6 million Malaysian residents and earned Malaysia around 71 billion Malaysian ringgit in tourism receipts in 2023.

Tourism industry in recovery

The COVID-19 pandemic had adversely affected the global tourism industry. As part of their efforts to prevent the spread of the virus, countries around the world introduced restrictions on inbound as well as outbound travel. Malaysia had been especially hard hit, as it imposed travel restrictions for inbound visitors from China, its second-largest inbound tourism market, as early as the end of January. Now the borders have been reopened, the country can expect a surge of Chinese tourists to help the industry recover to its pre-pandemic state.

The personal remittances received in Malaysia increased by roughly 0.1 billion U.S. dollars (+5.4 percent) in 2023. With 1.7 billion U.S. dollars, the personal remittances received thereby reached their highest value in the observed period. Remittances are flows of money between immigrants and their relatives. They refer to personal transfers between resident and nonresident individuals, and the compensation of employees who are employed in an economy where they are not resident, and of residents employed by nonresident entities.Find more statistics on other topics about Malaysia with key insights such as total reserves, gross capital formation, and charges for the use of intellectual property.