Malaysia’s Gross Domestic Product (GDP) grew by 3.6 per cent in the fourth quarter of 2021 from a year earlier as economic activities resumed with the easing of the Covid-19 measures. The country’s central bank, Bank Negara Malaysia said that with the turnaround in growth, the economy grew by 3.1per cent in 2021 as a whole. Unemployment declined to 4.6 per cent.
The central bank added that the rebound in economic activities in 4Q21 was aided by a recovery in the labour market as well as continued policy support. In addition, strong external demand amid the continued up cycle of global technology provided a further lift to growth, according to BNM. Quarter-on-quarter, Malaysia’s economy registered an increase of 6.6% in 4Q21, the central bank said. Bank Negara Malaysia also noted that BNM Malaysia’s inflation, as measured by the Consumer Price Index, increased 3.2% in 4Q21 from a year earlier.
