{"id":30067,"date":"2022-07-22T12:00:54","date_gmt":"2022-07-22T05:00:54","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=30067"},"modified":"2022-07-25T00:01:20","modified_gmt":"2022-07-24T17:01:20","slug":"malaysia-sees-steady-economic-recovery-e-commerce-and-5g-part-of-key-drivers","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/malaysia-sees-steady-economic-recovery-e-commerce-and-5g-part-of-key-drivers\/","title":{"rendered":"Malaysia sees steady economic recovery; e-commerce and 5G part of key drivers"},"content":{"rendered":"

Continued economic recovery and the restart of corporate operations will lead to an improvement in domestic economic activity<\/span><\/p>\n

\"\"
Malaysia\u2019s economy continues to expand despite rising inflation, according to Free Malaysia Today. Luciano Mortula – LGM\/Shutterstock<\/figcaption><\/figure>\n

Minister of Finance Datuk Seri Tengku Zafrul Abdul Aziz said Malaysia\u2019s economy is far stronger than Sri Lanka\u2019s, reports <\/span>Malay Mail<\/span><\/a>. Malaysia has never been declared bankrupt by the International Monetary Fund (IMF); rather, it consistently expresses confidence in the country’s economic prospects.<\/span><\/p>\n

\u201cIn April this year, the IMF has expressed confidence that the country\u2019s gross domestic product (GDP) for 2022 will grow at a rate of 5.75 percent,\u201d he said.<\/span><\/p>\n

Malaysia\u2019s economy continues to expand despite rising inflation, according to <\/span>Free Malaysia Today<\/span><\/a>. Research suggested that the country\u2019s growth projection remains at six percent, which is led by the reopening of the economy and the lack of strict COVID-19 regulations.<\/span><\/p>\n

The data revealed that the coincident index was at 5.3 percent YoY in April, which was the fastest growth in almost a year. Continued economic recovery and the restart of corporate operations will lead to an improvement in domestic economic activity.<\/span><\/p>\n

More: Malaysia turns to Middle Eastern millennial and Gen Z tourists for tourism revival<\/strong><\/a><\/p>\n

Exports surged by 30.5 percent YoY in May 2022, which can be attributed to higher re-exports and more shipments to nearby nations.<\/span><\/p>\n

Due to accelerating domestic economic development and high commodity prices, import growth accelerated even further to 37.3 percent in May 2022.<\/span><\/p>\n

Apart from these, digital transformation and e-commerce are also key drivers of Malaysia\u2019s economy.\u00a0<\/span><\/p>\n

The Malaysian Reserve<\/span><\/a> reported that, compared to 46 percent before the COVID-19 pandemic, more than 88 percent of Malaysians now shop online.<\/span><\/p>\n

Malaysia had 29.6 million internet users as of January 2022. Due to the advantages that e-commerce has to offer, currently, more than 65 percent of Malaysian customers use online shopping as their major purchasing method.<\/span><\/p>\n

In light of this, Malaysia’s Prime Minister Datuk Seri Ismail Sabri Yaakob, according to <\/span>The Borneo Post<\/span><\/a>, expressed optimism that the rollout of 5G will increase the country’s economic competitiveness as well as levels of industry productivity and value creation.<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email: propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Continued economic recovery and the restart of corporate operations will lead to an improvement in domestic economic activity<\/p>\n","protected":false},"author":12,"featured_media":30068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[596,2990,464,2601,2693],"class_list":["post-30067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-5g","tag-e-commerce","tag-economy","tag-exports","tag-imports","news_country-malaysia","news_author-property-report"],"acf":[],"yoast_head":"\nMalaysia sees steady economic recovery; e-commerce and 5G part of key drivers | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/malaysia-sees-steady-economic-recovery-e-commerce-and-5g-part-of-key-drivers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malaysia sees steady economic recovery; 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