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Malaysia's growth is likely to moderate in 2023 amid weak external demand, predicted experts.

Despite difficulties caused by COVID-19, international trade was considered Malaysia’s economic leverage in 2022, expanding by close to 30% to 2.613 trillion MYR (593.5 billion USD) for the period of January to November 2022, according to the latest figure published by the Department of Statistics of Malaysia.

Employers’ optimism is up following the stronger growth of 14.2% in the Malaysian economy in the third quarter of 2022and next year’s hiring activities would be higher, according to online employment platform JobStreet Malaysia.

A total of 39 billion USD have been invested by US companies into the Malaysian economy despite challenges posed by the COVID-19 pandemic, the American Malaysian Chamber of Commerce (Amcham) has said.

Malaysia's Industrial Production Index (IPI) increased 5.8 percent in December 2021 compared to the same month of the previous year, according to the country's Department of Statistics Malaysia (DoSM).

Malaysia’s economy is likely to expand at a slower rate this year as the country gradually recovers from the policies and measures implemented during the lockdowns, said Prof. Geoffrey Williams from the Malaysia University of Science and Technology (MUST).

The current health and economic crisis caused by the COVID-19 pandemic has caused 580,000 households in the M40 group (middle income) to drop in rank to B40 group (low income), according to Malaysian Prime Minister Ismail Sabri Yaakob.

Malaysia has launched its MalaysiaBiz portal, which serves as a one stop centre to facilitate online business registrations and licensing applications, aiming to create a trade-friendly environment to encourage competitiveness and spur local economic growth.

Vietnam surpasses Singapore, Malaysia to become the 4th largest economy in ASEAN

According to observers, Malaysia must cope with a sagging economy due to the impact of the global trade tension in 2019 and strive to find a foothold before the transfer of power scheduled next year.

Malaysia's new approved direct investments in the services, manufacturing and primary sectors rose 17.7 percent year-on-year to 80.2 billion ringgit (about 19.18 billion USD) in the first half of 2018, according to data released by the Malaysian Investment Development Authority (MIDA) on October 29.

The national flag carrier Vietnam Airlines on November 1 launched a special promotional programme for flights from Vietnam to three Southeast Asian countries, namely Thailand, Singapore and Malaysia.

Malaysia trade amounted to 1.163 trillion RM (275.3 billion USD) between January and August, up 22.6 percent from the same period last year, reported the local New Straits Times.

Malaysia’s economy grew at 4.7 percent in the third quarter, mainly fueled by the private sector, services and manufacturing industries, according to Malaysia’s central bank (BNM).

Malaysia's economy grew at its slowest pace in nearly two years in the second quarter amid its plummeting currency, the government said on August 13.