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Economic and Financial Developments in Malaysia in the First Quarter of 2021
Economic and Financial Developments in Malaysia in the First Quarter of 2021
Embargo : For immediate release Not for publication or broadcast before 1200 on Tuesday, 11 May 2021
11 May 2021
Better economic performance, with smaller GDP decline of 0.5% in the first quarter (4Q 2020: -3.4%)
The Malaysian economy registered a smaller decline of 0.5% in the first quarter (4Q 2020: -3.4%). The growth performance was supported mainly by the improvement in domestic demand and robust exports performance, particularly for E&E products. Growth was also supported by the continued policy measures. The imposition of the Second Movement Control Order (MCO 2.0) and the continued closure of international borders and restrictions on inter-state travel, however, weighed on economic activity. Nevertheless, as restrictions were eased in February and March, economic activity gradually picked up. Governor Datuk Nor Shamsiah