KUALA LUMPUR – Bank Negara Malaysia (BNM) has projected that Malaysia’s full-year GDP growth will fall at the upper end of its forecast range of 4.0% to 4.8%, according to governor Datuk Seri Abdul Rasheed Ghaffour.
He noted that the economy expanded by 4.7% in the first nine months of 2025, remaining well within the central bank’s expectations, Bernama reported.
“We are now at the upper end of the range,” he said during a joint press conference with the Department of Statistics Malaysia, following the release of the third-quarter GDP data. Malaysia’s GDP growth for the third quarter of 2025 was 5.2%, driven by sustained domestic demand and an increase in net exports.
The economy had grown by 4.4% in both the first and second quarters of the year.
However, Abdul Rasheed warned that overall growth faces both upside and downside risks.
These include a potential slowdown in trade due to higher US tariffs, weaker sentiment affecting consumer spending and investment, and lower-than-expected commodity production.
“On the other hand, growth could be higher with more pro-growth policies in major economies, favourable outcomes from remaining US trade negotiations, higher demand for electrical and electronics goods, as well as more robust tourism activity,” he added. – November 14, 2025