Malaysia’s 2023 GDP growth estimated at 3.8%, missing forecast due to weak exports

[KUALA LUMPUR] Malaysia’s economic growth in 2023 is estimated to have expanded at a slower-than-expected pace due to lower exports.

The country’s gross domestic product (GDP) is projected to have grown by 3.4 per cent in the fourth quarter last year, with full-year growth expected to be 3.8 per cent, according to advance estimates released by the Department of Statistics Malaysia (DOSM) on Friday (Jan 19).

The advance quarterly GDP figures by DOSM, which were compiled based on partial information and surveys, aimed to provide early indications of economic performance.