Malaysia Current Account to GDP Ratio
Malaysia's current account to GDP ratio is expected to rise to 1.7% in 2024, up from 1.5% in 2023. This increase is driven by recovering goods exports and a smaller services deficit. In 2023, the services deficit narrowed to RM41.9 billion from RM58.2 billion in 2022, primarily due to a strong rebound in travel receipts which registered a RM17.0 billion surplus. Despite a 7.3% contraction in overall goods trade in 2023 with exports falling by 8.0% due to weaker global demand and lower commodity prices, the goods account still posted a RM132.9 billion surplus. Expected strengthening of goods exports in 2024 is supported by a global technological upcycle and improved demand for electrical and electronic products. Continued recovery in inbound tourism will also boost the services account and the current account balance. Malaysia's record low current account to GDP was 1.5% in 2023 and the record high was 4.2% in 2020.
Yearly Historical Data (2015-2024)
(in %)Malaysia's current account to GDP shows the current account balance as a percentage of gross domestic product. The current account, encompassing trade in goods, services, income and transfers, is divided by GDP. A positive value suggests a surplus while a negative value indicates a deficit.