Malaysia's Ministry of Finance stated in its Economic stance next year report that Malaysia's gross domestic product (GDP) is projected to shrink by 4.5 percent in 2020, before recovering between 6.5 percent to 7.5 percent in 2021.
The report stated "Although domestic demand is expected to remain soft throughout 2020, there are signs of recovery in the second half of the year, particularly in private consumption".
On the exterior front, the report stated the fall down in international demand and world trade led to a drop in exports throughout the year. On the supply side, all industries are projected to shrink, impacted by the coronavirus pandemic.
It stated "Nevertheless, the pace of improvement gathered momentum in the third quarter, especially in the services and manufacturing sectors, with the resumption of economic activities".
Source: MENAFN
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
