Despite a difficult external environment, Malaysia managed to register GDP growth of 4.7% in 2013, down somewhat from its compound annual growth rate (CAGR) of 6% from 2009 to 2012. Nevertheless, the GDP contribution from private consumption climbed to 52% in 2013, up from 49% in 2011, suggesting Malaysia’s growth is becoming more driven by domestic-demand. With the developed markets showing signs of improvement, both the International Monetary Fund (IMF) and the Asian Development Bank (ADB) expect export-reliant Malaysia to see GDP growth of about 5% in the coming years.