Connect with us


M’sia Named 14th Fastest-Growing Economy in Asia, Behind Indonesia, Vietnam, Philippines & Cambodia


Feat Image Malaysia 14Th
Source: The Malaysian Reserve & The Star

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Malaysia has just been named the country with the 14th fastest-growing economy in Asia for the year 2024 in a detailed analysis by Yahoo! Finance and Insider Monkey.

Relying on the Real GDP growth rates and GDP per capita growth rates from the International Monetary Fund (IMF), the ranking yielded some interesting results, especially regarding our country’s economic performance compared to other developing nations in Asia.


How Southeast Asian developing countries fare in the rankings

Kuala Lumpur Skyline Tall Buildings

For illustration purposes

In the rankings, Malaysia placed 14th with a Real DGP Growth Rate of 4.3% and a GDP Per Capita Growth Rate of 6.75% in 2024. 

Meanwhile, our neighbouring country north of the border, Thailand, was ranked 20th in the analysis, recording a 3.2% Real GDP Growth Rate and 5.94% GDP Per Capita growth rate.

Economy Recession

For illustration purposes

Other developing Southeast Asian countries that were ranked worse than our nation’s economy are Brunei and Laos.

Brunei ranked 19th with a 3.5% Real GDP Growth Rate of 3.5% and a GDP Per Capita Growth rate of 4.16%, followed by Laos in 18th place with a Real GDP Growth Rate of 4% and GDP Per Capita Growth Rate of -2.38%.

Meanwhile, Southeast Asian nations that placed higher than us in the analysis include:

  • Indonesia in 10th place (Real GDP Growth Rate of 5% and a GDP Per Capita Growth Rate of 7.83%)
  • Vietnam in 6th place (Real GDP Growth Rate of 5.8% and GDP Per Capita Growth Rate of 7.41%)
  • Philippines in 5th place (Real GDP Growth Rate of 5.9% and GDP Per Capita Growth Rate of 8.03%)
  • Cambodia in 3rd place (Real GDP Per Capita Growth Rate of 6.1% and GDP Per Capita Growth Rate of 6.34%)
Image 59

For illustration purposes


The top 20 fastest growing economies in Asia in 2024

Here’s the full list of the top 20 rankings in the analysis:

  1. Macao
  2. India
  3. Cambodia
  4. Bangladesh
  5. Philippines
  6. Vietnam
  7. Uzbekistan
  8. Armenia
  9. Nepal
  10. Indonesia
  11. Tajikistan
  12. Maldives
  13. Mongolia
  14. Malaysia
  15. Kyrgyzstan
  16. Kazakhstan
  17. People’s Republic of China
  18. Laos
  19. Brunei
  20. Thailand
Skyscrapers 7

For illustration purposes

The methodology of the analysis

According to Yahoo! Finance and Insider Monkey, the rankings were made by referring to the Real GDP Growth Rates and GDP Per Capita Growth Rates of each country.

The Real GDP Growth Rates for 2024 were sourced from the IMF database, while the annual GDP Per Capita Growth for each nation between 2023 and 2024 were calculated using GDP Per Capita at current prices data from the IMF.

The Real GDP Growth Rates for 2024 were used as the primary metric of the rankings while the GDP Per Capita Growth Rates for 2024 were used as a secondary metric. The latter was used whenever a tie-break was required in the rankings.

Do note that Yahoo! Finance and Insider Monkey also decided to exclude Middle Eastern nations in the analysis.

Image 60

For illustration purposes

So, what do you guys think of the Malaysian economy’s placement in the rankings? Share your thoughts with us in the comments!


Also read: M’sians Waste Food More Than Any Other Country in SEA, a Whopping 91kg per Capita per Annum!

Collage 16

Source: time
Source: The Star
Source: 123RF
Source: Investopedia

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Just In

Feat Image Betul Feat Image Betul
News4 hours ago

Indonesia Overtakes Malaysia as 2nd Best ASEAN Nation in Global Tourism Development Ranking

The World Economic Forum, an international advocacy non-governmental organisation and think-thank, recently released its latest edition of the Travel &...

My Post 1 2024 05 24T162646.754 1 My Post 1 2024 05 24T162646.754 1
News5 hours ago

KL Eatery Defies DBKL by Setting New Up Tents a Week After DBKL Seized Their Old Ones

About a week ago, the Kuala Lumpur City Council (DBKL) showcased how they had raided multiple locations and seized tents,...

Collage 5 2 Collage 5 2
News6 hours ago

Starbucks Operator, Berjaya Food, Suffers Nearly RM30 MILLION Loss as Boycott Movements Continue

The ongoing boycott movements have no doubt brought a major loss to many organisations, and Starbucks is among the worst-hit...

My Post 1 2024 05 24T135830.776 My Post 1 2024 05 24T135830.776
News6 hours ago

M’sian Celebrity Chef Called Out Over Racial Thaipusam Comment on Aishwarya Rai’s Dress at Cannes

We often hold celebrities to higher standards due to them having a much bigger platform to spread their influence. So,...

Collage 56 Collage 56
News8 hours ago

M’sian Harvard Law Student Receives US Award for His Success in Winning Cases for Underprivileged Clients

Being a law student isn’t just about hitting the books. It’s about putting in the time and effort, staying sharp...

Feat Image Kb Feat Image Kb
News8 hours ago

Study: Kota Bharu is Southeast Asia’s 16th Best City, Above Chiang Mai, Surabaya, Cebu & More!

Malaysian cities feature prominently in the latest edition of the Oxford Economics Global Index, an index which ranks the top...

Collage 55 Collage 55
News11 hours ago

Study: Malaysia Ranks 8th Among the Most Unsafe Countries for Women in Southeast Asia

There’s nothing inherently wrong with living in Malaysia. Despite being blessed with good food and fine weather all year round,...

Collage 3 2 Collage 3 2
News1 day ago

“Keep boycotting” – Dr Akmal is NOT Happy About KK Mart’s Expanded Business in Uzbekistan

KK Mart once again made headlines but in a rather inspiring way. PMX’s recent visit to Uzbekistan was accompanied by...


Latest Videos