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Economic and Financial Developments in Malaysia in the First Quarter of 2021 Embargo : Not for publication or broadcast before 1200 on Tuesday, 11 May 2021 11 May 2021 Better economic performance, with smaller GDP decline of 0.5% in the first quarter (4Q 2020: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 said “The better overall performance reflects the improvement in domestic demand and the strengt