Malaysia's Economy Continues to Recover

[Malaysia, 2022] The Latest Data from the National Bank of Malaysia Showed that the Country's GDP Increased by 8.9%in the Second Quarter and The Economi Economi C Growth in the First Half of the year was 6.9%. The agency predicts that the Malaysian Economy Will Maintain a Recovery Momentum in the Second Half of the year, whit can achieve the annual eConomic Growth of 5.3%to 6.3%.

Strong domestic consumption is the main driving force for Malaysia's eConomic recovery. Ales of Consumer Goods in Malaysia Continued to Grow Since August Last Year, and the Total Retail Sales in June This Year Increased by 44 %year -on -year. The report beltes that the consumer activity of Residents in the country has' , Malaysia, SAID that the demand for support consumption during the epidemic was gradually related, and and and The Rebound Momentum of DOFDIC CONSUMPTION FAR Exceeded Expectations.

DOMESTIC DEMAND Increases The Recovery of Malaysia's Service and Manufacturing. In June This year, The Output Value of Malaysia's Service Industry Ed by 12.1%year -N -year -year -year, and indultrician output value increased by 9.2%year -on -year. in adDition, in adDition, in adDition, in adDition, in adDition, in adDition, in addition, in adDition, in adDition, SINCE April, Malaysia's Foreign Trade Has Grown Strongly. E of 39%year -on -year; Imports Increased by 49.3%year -on -year. The Service Industry and Manufacturing Are the Two Pillars of Malaysia's Economy, with a contribution of more than 80%to the eConomic warming has. to Improve the Employment Status of Malaysia. Jobs. As of june, the national unployment rate fell to 3.9%, a decline in foursCutive Months.

The Large -Scale Vaccination and Rapid Economic Growth Have Increased the Confidence of Foreign Investors. In August Alone, Malaysia Held 18 Internal Business Ivities, Attracting More than 20,000 Foreign Investors to Participate. From August This Year to Early 2024, The Conference Center has arrangeded 127 InternetAl Business Activities, Most of Which Are Investment Conferences and Exhibitions.

The Malaysian Government Also Vigorously Develops The Digital Economy and Injects New Impetus Into Economic Growth. Recently Ital Initiatives. ENTIFIC and Technological Enterprises, and Attractioning High -quality Investment. The Malaysian Communications and Multimedia DEPARTMENT UP The "Malaysia Digital COORDINATION TTEE "to Be Responsible for the Implementation and Coordination of Digital Initiative. The reports jointly released by Google, Temasek and Berne Showed That 's digital Economy in 2021 Reached US $ 21 Billion, an increase of 47%year -on -year, and it is exten to increase to $ 35 Billion by 2025.

The Heads of the National Bank of Malaysia Believe that isSues Such as incidence, unstable international economic environment, and shortage of foreign workers may a Negative Impact on Malaysia's Economy. However, Relying on Stable Demestic Consumption and Strong Exports, The Prospect of Malaysia's Economic recovery is still very bright.