Page last updated on February 5, 2013
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):
$492 billion (2012 est.)
country comparison to the world: 30
$471.2 billion (2011 est.)
$448.4 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$307.2 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
4.4% (2012 est.)
country comparison to the world: 73
5.1% (2011 est.)
7.2% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$16,900 (2012 est.)
country comparison to the world: 74
$16,500 (2011 est.)
$15,900 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 11.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
41.2%
services:
46.8% (2012 est.)
Labor force:
12.84 million (2012 est.)
country comparison to the world: 42
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 13%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
36%
services:
51% (2005 est.)
Unemployment rate:
3% (2012 est.)
country comparison to the world: 25
3.1% (2011 est.)
[see also:
Unemployment rate country ranks ]
Population below poverty line:
3.8% (2009 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 1.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
34.7% (2009 est.)
Distribution of family income - Gini index:
46.2 (2009)
country comparison to the world: 33
49.2 (1997)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
25.2% of GDP (2012 est.)
country comparison to the world: 47
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $59.22 billion
[see also: Budget revenues country ranks ]
expenditures:
$75.31 billion (2012 est.)
Taxes and other revenues:
19.3% of GDP (2012 est.)
country comparison to the world: 165
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-5.2% of GDP (2012 est.)
country comparison to the world: 161
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
55.8% of GDP (2012 est.)
country comparison to the world: 53
51.8% of GDP (2011 est.)
note:
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
1.9% (2012 est.)
country comparison to the world: 27
3.2% (2011 est.)
note:
approximately 30% of goods are price-controlled
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
3% (31 December 2011)
country comparison to the world: 107
2.83% (31 December 2010)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
4.9% (31 December 2012 est.)
country comparison to the world: 159
4.83% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$96.68 billion (31 December 2012 est.)
country comparison to the world: 36
$81.28 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$458.5 billion (31 December 2012 est.)
country comparison to the world: 24
$382.2 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$403.7 billion (31 December 2012 est.)
country comparison to the world: 29
$354.6 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$414 billion (31 December 2011)
country comparison to the world: 23
$410.5 billion (31 December 2010)
$256 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
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.)
country comparison to the world: 135
[see also: Industrial production growth rate country ranks ]
Current account balance:
$24.18 billion (2012 est.)
country comparison to the world: 16
$32.03 billion (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$239.8 billion (2012 est.)
country comparison to the world: 25
$227.5 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals
Exports - partners:
China 13.1%, Singapore 12.7%, Japan 11.5%, US 8.3%, Thailand 5.1%, Hong Kong 4.5%, India 4.1% (2011)
Imports:
$197.2 billion (2012 est.)
country comparison to the world: 27
$178.6 billion (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Imports - partners:
China 13.2%, Singapore 12.8%, Japan 11.4%, US 9.7%, Indonesia 6.1%, Thailand 6%, South Korea 4% (2011)
Reserves of foreign exchange and gold:
$140.4 billion (31 December 2012 est.)
country comparison to the world: 19
