Forecast: Telecommunications Services Contribution to GDP in Malaysia

The telecommunications services sector in Malaysia has shown a consistent increase in its contribution to GDP from 2013 to 2023. From 2013 to 2017, the sector had substantial growth, with year-on-year variations ranging between 9.66% and 10.55%. However, from 2018 onwards, the growth rate slowed, with year-on-year changes gradually declining from 1.13% in 2018 to 2.83% in 2023. The CAGR for the most recent five years (2018-2023) averaged at 3.14%.

In 2023, the telecommunications services contribution to GDP stood at 60.98 billion Malaysian Ringgits. The forecasted data indicate that growth will continue, albeit at a slower rate, with a 5-year forecasted CAGR of 1.92% from 2024 to 2028. The overall growth rate over these five years is expected to be 9.99%.

Future Trends to Watch For:

• Technological advancements such as 5G deployment and digital transformation across various sectors.
• Increased investments in infrastructure to support higher data consumption and connectivity needs.
• Possibility of regulatory changes impacting market dynamics and competition.
• Potential new revenue streams from digital services, IoT, and smart city developments.