Malaysia » Introduction

Basic Economic Facts

GDP composition by Sector

Standard of living in Malaysia is considered the highest among the countries of South East Asia. Expanding industrialised infrastructure is contributing in elevating standard of living in the country. Some of the important Malaysia economic facts are given bellow.

Economy of Malaysia is considered as a part of economies of the East Asia and the pacific regions. The economy structure of Malaysia is open. People in the business can trade their goods and services with the international communities. Due to this openness in utilisation of business resources, the economy of Malaysia is in full bloom. 

According to the data collected by Malaysia economic indicators in 2007, economy of the country is ranked 29th in the overall economies of the world. Economy growth rate remained 5% to 7% in the financial year of 2007. That is the reason why Malaysia is also considered as a successful newly industrialised country. 

Malaysia is one of the countries controlling the Strait of Malacca. Therefore Malaysia is also recognized as international trade player. Malaysia is one of the most prominent suppliers of tin, Palm oil, rubber, electric devices made up of semiconductors and various types of electrical appliances. 

Manufacturing of various products such as semiconductor devices also plays an important role in the growing economy of Malaysia. This vast industrialisation processes and great development in the services sectors is due to the mass scale privatisation of most of the state owned corporations and organisations. 

Some major factors contributing in the booming economy of Malaysia are

• Excellent momentary policies
• Affirmative policies for benefiting the poor community of the nation
• Subsidies and price controls of the important goods
• Sovereign Wealth Funds for helping the selected strategic industries in Malaysia

• Positive government influence

A short list of Malaysia major import is given bellow.   

• Electronics
• Machinery
• Petroleum products
• Plastics
• Vehicles
• Iron
• Steel products
• Chemicals

The important Malaysia exports are as follows. 

• Electronic equipment
• Petroleum
• Liquefied natural gas
• Wood
• Wood products
• Palm oil
• Rubber
• Textiles
• Chemicals

Our outlook on the Malaysia economic information can be accessed by visiting the Economic outlook portion of the Malaysia country profile.