Impact of COVID-19 on Malaysia Economy Market Size, Growth & Forecast To 2025

Malaysia, an ASEAN country had witnessed its first case related to COVID-19 in the last week of January 2020. The cases related to COVID-19 increased in March 2020 and now registered most cases of COVID-19 in ASEAN. By the first week of April 2020, the country has registered more than 4,100 cases related to coronavirus.

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As per the International Monetary Fund, the GDP of the country was 5 billion in 2019. As per the Central Bank of Malaysia, the growth of the GDP of the country was 4.3% in 2019 as compared to 4.7% in 2018. However, in April 2020, it is estimated that the growth of the GDP in 2020 will be in the range of -2% to 0.5% mainly due to the COVID-19 pandemic. In the wake of increased cases due to COVID-19 pandemic, the government has announced a nationwide Movement Control Order from 18th March to 31st March, which later extended to 14th April. Under this, the citizens of the country are not allowed to leave the country.

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Key companies operating in Malaysia whose business operations are affected due to COVID-19 include AirAsia Berhad, Genting Malaysia Berhad, Malaysia Airlines Berhad, Malaysia Airports Holdings Berhad, PROTON Holdings Berhad, the Perusahaan Otomobil Kedua Sendirian Berhad, and others. Numerous manufacturing companies have shut down their operations due to the coronavirus. Proton announced that during the Movement Control Order, the company will shut its production, sales, and after-sales operation throughout the country.

Industry Overview

Historical market growth estimation of Malaysia economy pre-COVID-19 pandemic
Deviations in Malaysia economy growth rate due to COVID-19 pandemic

Verticals Affected Most

Automotive
Energy
Healthcare
Retail & E-commerce
Aviation
Manufacturing
Travel and Tourism
Others (Construction, Electronics)

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