Economy of Malaysia

Economy - overview
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with strained government finances, has forced Kuala Lumpur to begin to reduce government subsidies. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies more than 40% of government revenue. The central bank maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia''s exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB has raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but he has encountered significant opposition, especially from Malay nationalists and other vested interests.
GDP (purchasing power parity)
$453 billion (2011 est.)
$402 billion (2009 est.)
data are in 2011 US dollars
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GDP (official exchange rate)
$278.7 billion (2011 est.)
GDP - real growth rate
5.1% (2011 est.)
-1.6% (2009 est.)
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GDP - per capita (PPP)
$15,800 (2011 est.)
$14,400 (2009 est.)
data are in 2011 US dollars
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GDP - composition by sector
agriculture:
12%
industry:
40%
services:
48% (2011 est.)
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Labor force
11.91 million (2011 est.)
rank:
45
Labor force - by occupation
agriculture:
13%
industry:
36%
services:
51% (2005 est.)
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Unemployment rate
3.1% (2011 est.)
3.4% (2010 est.)
Population below poverty line
3.8% (2009 est.)
Household income or consumption by percentage share
lowest 10%:
1.8%
highest 10%:
34.7% (2009 est.)
Distribution of family income - Gini index
46.2 (2009)
49.2 (1997)
Investment (gross fixed)
20.1% of GDP (2011 est.)
rank:
94
Budget
revenues:
$59.8 billion
expenditures:
$73.8 billion (2011 est.)
Taxes and other revenues
21.5% of GDP (2011 est.)
rank:
149
Budget surplus (+) or deficit (-)
-5% of GDP (2011 est.)
rank:
160
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Public debt
53.2% of GDP (2011 est.)
53.1% of GDP (2010 est.)
Inflation rate (consumer prices)
3.2% (2011 est.)
1.7% (2010 est.)
approximately 30% of goods are price-controlled
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Central bank discount rate
3% (31 December 2011)
2.83% (31 December 2010)
Commercial bank prime lending rate
4.92% (31 December 2011 est.)
5.05% (31 December 2010 est.)
Stock of narrow money
$85.91 billion (31 December 2011 est.)
$72.77 billion (31 December 2010 est.)
Stock of broad money
$384.2 billion (31 December 2011 est.)
$358.1 billion (31 December 2010 est.)
Stock of domestic credit
$362.1 billion (31 December 2011 est.)
$328.4 billion (31 December 2010 est.)
Market value of publicly traded shares
$414 billion (31 December 2011)
$256 billion (31 December 2009)
Agriculture - products
Peninsular Malaysia - palm oil, rubber, cocoa, rice; Sabah - palm oil, subsistence crops; rubber, timber; Sarawak - palm oil, rubber, timber; pepper
Industries
Peninsular Malaysia - rubber and oil palm processing and manufacturing, light manufacturing, pharmaceuticals, medical technology, electronics, tin mining and smelting, logging, timber processing; Sabah - logging, petroleum production; Sarawak - agriculture processing, petroleum production and refining, logging
Industrial production growth rate
1.4% (2011 est.)
rank:
134
Electricity - production
118.2 billion kWh (2011 est.)
rank:
29
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Electricity - consumption
93.8 billion kWh (2009 est.)
rank:
32
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Electricity - exports
91.7 million kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production
716,000 bbl/day (2010 est.)
rank:
28
Oil - consumption
556,000 bbl/day (2010 est.)
rank:
31
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Oil - exports
644,900 bbl/day (2009 est.)
rank:
26
Oil - imports
355,300 bbl/day (2009 est.)
rank:
29
Oil - proved reserves
5.8 billion bbl (1 January 2011 est.)
rank:
21
Natural gas - production
66.5 billion cu m (2010 est.)
rank:
13
Natural gas - consumption
35.7 billion cu m (2010 est.)
rank:
27
Natural gas - exports
30.79 billion cu m (2009 est.)
rank:
10
Natural gas - imports
1.269 billion cu m (2009 est.)
rank:
55
Natural gas - proved reserves
2.4 trillion cu m (1 January 2011 est.)
rank:
15
Current account balance
$30.99 billion (2011 est.)
$27.29 billion (2010 est.)
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Exports
$225.6 billion (2011 est.)
$199 billion (2010 est.)
Exports - commodities
electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals
Exports - partners
China 17.9%, Singapore 12.8%, Japan 10.6%, US 8.6%, Thailand 4.4%, Hong Kong 4.1% (2010 est.)
Imports
$177.1 billion (2011 est.)
$157.3 billion (2010 est.)
Imports - commodities
electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Imports - partners
Singapore 20.5%, China 13.7%, Japan 10%, US 7.9%, Thailand 6%, Indonesia 5.6% (2010 est.)
Reserves of foreign exchange and gold
$133.6 billion (31 December 2011 est.)
$106.5 billion (31 December 2010 est.)
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Debt - external
$87.81 billion (31 December 2011 est.)
$81.5 billion (31 December 2010 est.)
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Stock of direct foreign investment - at home
$112.1 billion (31 December 2011 est.)
$101.3 billion (31 December 2010 est.)
Stock of direct foreign investment - abroad
$109.3 billion (31 December 2011 est.)
$96.76 billion (31 December 2010 est.)
Exchange rates
3.46 (2007)
Fiscal year
calendar year
Data source 1: All Above textual data, maps and flags were extracted from The World Factbook which was prepared by the Central Intelligence Agency and made available on the following link: The World Factbook. Lebanese Economy Forum is not sponsered or affiliated, in any way, by the US Central Intelligence Agency
Data source 2: Plots and Charts are constructed using the world bank public data catalog which can be viewed by visiting the following link: World Bank Data Catalog. Lebanese Economy Forum is not sponsored or affiliated, in any way, by the worldbank

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