Malaysia Led ASEAN Economic Growth in Q3 2022

Economics & Macro

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Viva Budy Kusnandar 14/11/2022 15:10 WIB

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Malaysia Led ASEAN Economic Growth in Q3 2022

Economic Growth of 10 ASEAN Countries in Q3 2022 (YoY)

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Malaysia Led ASEAN Economic Growth in Q3 2022

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Economic Growth of 10 ASEAN Countries in Q3 2022 (YoY)

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The Department of Statistics Malaysia (DSM) reported that Malaysia's economy grew by 14.2% in the third quarter of 2022 compared to the third quarter of 2021 (year-on-year/yoy). This growth is higher than the previous quarter's 8.9% (yoy) growth.

Malaysia's economy surged above 14% in the July-September 2022 period due to high export demand and domestic consumption. Furthermore, the high economic growth in Malaysia during the third quarter of 2022 year-on-year was also due to a low statistical base in the third quarter of 2021.

With this achievement, Malaysia led economic growth among other Southeast Asian (ASEAN) countries.

For information, Vietnam's economy grew by 13.67% (yoy) in the third quarter of 2022. This was followed by the Philippines' economy, which grew by 7.6% (yoy). Similarly, Indonesia's economy grew by 5.72% (yoy), and Singapore's economy grew by 4.4% (yoy).

Next, Thailand's economy grew by 2.5% (yoy) in the second quarter of 2022, while Brunei Darussalam's economy contracted by 4.4% (yoy).

Meanwhile, the economies of Laos and Cambodia grew by 3.5% and 3% respectively in 2021. Myanmar's economy, however, contracted by 18% in 2021.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Malaysia Led ASEAN Economic Growth in Q3 2022

Malaysia Led ASEAN Economic Growth in Q3 2022

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Malaysia Led ASEAN Economic Growth in Q3 2022

Malaysia Led ASEAN Economic Growth in Q3 2022

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