Malaysia records 8.7% GDP growth in 2022, highest in over 2 decades

MALAYSIA’S economic growth rose to a 22-year high of 8.7% in 2022, against 3.1% in the previous year, contributed by positive growth in all sectors, the Department of Statistics Malaysia (DOSM) said.

In a separate statement, Bank Negara Malaysia (BNM) said the nation’s GDP expanded by 7% in the fourth quarter of 2022 (Q4 2022) versus 14.2% in Q3 2022, as support from stimulus measures and the low base effect waned.