Economic gap between Singapore, Malaysia shrinking

After trailing for three consecutive years, Malaysia is finally catching up with its neighbour to regain its lead over Singapore’s economy, reported Bloomberg.

Based on World Bank data, Malaysia’s gross domestic product stood at $314.5 billion last year, down $9.4 billion from Singapore’s $323.9 billion.

The deficit is, however, expected to shrink given the bright forecasts for Malaysia’s economy.

Median estimates of economists surveyed by Bloomberg showed that Malaysia’s economy will expand by around 5.5 percent this year compared to the 3.1 percent increase expected for Singapore.

 

Senior Content Producer, Christopher Chitty, edited this story