Current Account in Malaysia
Malaysia - Current AccountGDP growth accelerated in Q1 amid a broad-based improvement. Turning to this quarter, the government’s Endemic Phase strategy to live alongside the virus should be buttressing overall activity. In April, the unemployment rate reached its lowest level since the outbreak of the Covid-19 pandemic, which should have supported private spending. Similarly, the manufacturing PMI averaged higher in April–May compared to the previous quarter. On the external front, the country is expected to benefit from currently-elevated prices for its main exports: palm oil, rubber and natural gas. Meanwhile, on 1 June, Prime Minister Ismail Sabri Yaakob announced a ban on chicken exports in an effort to control rising price pressures. Although the ban has since eased to a selection of chicken products, the ongoing restrictions are likely to impact trade.
Malaysia - Current Account Data
|Current Account (% of GDP)||3.0||2.4||2.8||2.2||3.4|
5 years of economic forecasts for more than 30 economic indicators.
Malaysia Current Account Chart
Source: Department of Statistics Malaysia and FocusEconomics calculations.
|Bond Yield||3.32||0.15 %||Dec 31|
|Exchange Rate||4.09||0.0 %||Jan 01|
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September 20, 2022
Industrial production grew 12.5% year on year in July (June: +12.1% yoy).
September 8, 2022
At its meeting on 7–8 September, the Monetary Policy Committee of Bank Negara Malaysia (BNM) voted to raise the overnight policy rate for the third consecutive time by 25 basis points, bringing it to 2.50%.
September 1, 2022
The Manufacturing Purchasing Managers’ Index (PMI), produced by S&P Global, ticked down to 50.3 in August from 50.6 in the previous month.
August 26, 2022
Consumer prices rose a seasonally-adjusted 0.39% from the previous month in July, a smaller increase than the 0.63% increase recorded in June.
August 12, 2022
GDP growth picked up to 8.9% year on year in the second quarter, from 5.0% in the first quarter.