Malaysia's 2016 GDP to Register Drop to 4-4.5% Compared to 2015

Malaysia's gross domestic product (GDP) growth for 2016 is projected at between four to 4.5% with the half year performance at 4.1%.

    Malaysia's Prime Minister Najib Razak said the GDP decline when compared to 2015, was due to the soft global economic growth momentum, according to Malaysia's (Benama) News Agency. "Malaysia's exports declined. The weakness on the international market also caused prices for commodities as oil, gas, palm oil and minerals to fall. 

    "The global economic situation also exacerbated by geopolitical developments as Brexit in Europe," he said. Najib said in 2015, Malaysia posted GDP growth of 5.0% when compared to countries as Indonesia (4.8%), Thailand (2.8%) and South Korea (2.6%).