Page 52 - Malaysian Dietary Supplement Industry Status and Outlook Report 2019-2020 Preview
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Figure 3.1: Real Gross Domestic Product Overall Market Size
and Gross Domestic Product Growth Rate,
Malaysia, 2010-2018.
The national economy has grown
Source: Department of Statistics Malaysia. significantly since the 2010s, albeit at a
slower pace in recent years. As GDP
per capita increases, the average
household income of the Malaysian
middle class looks to rise in tandem.
In recent years, South East Asia’s economic growth has been
a bright spot in the global economic landscape. With a
population of nearly 640 million people and hunger for
transformative economic development, the region’s upsides
are vast.
Malaysia, as one of the region’s key economic contributors,
has been a consistent performer over the past 10 years. GDP
grew from RMnnn billion in 2010 to RMn,nnn billion in 2018
at a CAGR of n.n%, significantly better than the global CAGR
of n.n% (average economic growth has slowed down in the
recent past, but still outperforming the global average).
The Malaysian middle class is becoming more affluent. Mean
household income has increased from ~RMn,nnn in 2010 to
~RMn,nnn in 2016, growing at a CAGR of ~n.n%, which is
outpacing the growth of the national economy. Given stable
inflation, spending power of the average Malaysia will
continue to increase over the next 2 years.
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