| Economy | Malaysia |
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Economy - overview:
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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 begin to reduce government subsidies. The government is also trying to lessen its dependence on state oil producer Petronas, which supplies more than 40% of government revenue. The central bank maintains healthy foreign exchange reserves and its 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):
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$447 billion (2011 est.)
$424.8 billion (2010 est.)
$396.4 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$15,600 (2011 est.)
$15,000 (2010 est.)
$14,200 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$247.6 billion (2011 est.) |
GDP - real growth rate:
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5.2% (2011 est.)
7.2% (2010 est.)
-1.6% (2009 est.) |
GDP - composition by sector:
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agriculture: 10.2%
industry: 42.1%
services: 47.8% (2011 est.) |
Investment (gross fixed):
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20.3% of GDP (2011 est.) |
Population below poverty line:
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3.6% (2007 est.) |
Household income or consumption by percentage share:
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lowest 10%: 1.8%
highest 10%: 34.7% (2009 est.) |
Distribution of family income - Gini index:
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46.2 (2009)
49.2 (1997) |
Inflation rate (consumer prices):
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3.3% (2011 est.)
1.7% (2010 est.)
note: approximately 30% of goods are price-controlled |
Central bank discount rate:
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2.83% (31 December 2010)
2% (31 December 2009 est.) |
Commercial bank prime lending rate:
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5.1% (31 December 2011 est.)
5.05% (31 December 2010 est.) |
Stock of money:
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$51.51 billion (31 December 2008)
$49.41 billion (31 December 2007) |
Stock of money - per capita:
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1,793 USD per capita |
Stock of quasi money:
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$200.9 billion (31 December 2008)
$187.6 billion (31 December 2007) |
Stock of quasi money - per capita:
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6,994 USD per capita |
Stock of domestic credit:
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$362.1 billion (31 December 2011 est.)
$328.4 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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12,605 USD per capita |
Stock of narrow money:
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$82.72 billion (31 December 2011 est.)
$72.77 billion (31 December 2010 est.) |
Stock of broad money:
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$378.3 billion (31 December 2011 est.)
$358.1 billion (31 December 2010 est.) |
Labor force:
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11.9 million (2011 est.) |
Labor force participation rate:
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41.42 % of population |
Labor force - by occupation:
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agriculture: 13%
industry: 36%
services: 51% (2005 est.) |
Unemployment rate:
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3.1% (2011 est.)
3.4% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 10.9%
male: 10.3%
female: 11.8% (2008) |
Budget:
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revenues: $56.02 billion
expenditures: $75.45 billion (2011 est.) |
Budget revenues per capita:
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1,950 USD per capita |
Taxes and other revenues:
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22.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-7.8% of GDP (2011 est.) |
Public debt:
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57.9% of GDP (2011 est.)
53.1% of GDP (2010 est.)
note: |
Industries:
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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:
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2.4% (2011 est.) |
Electricity - production:
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101.1 billion kWh (2009 est.) |
Electricity - production per capita:
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3,520 kWh per capita |
Electricity - consumption:
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93.8 billion kWh (2009 est.) |
Electricity - consumption - per capita:
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3,266 kWh per capita |
Electricity - exports:
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91.7 million kWh (2009 est.) |
Electricity - imports:
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0 kWh (2009 est.) |
Oil - production:
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664,800 bbl/day (2010 est.) |
Oil - production per capita:
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23,141 bbl/day per capita |
Oil - consumption:
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561,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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7.13 bbl/year per capita |
Oil - exports:
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644,900 bbl/day (2009 est.) |
Oil - imports:
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355,300 bbl/day (2009 est.) |
Oil - proved reserves:
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4 billion bbl (1 January 2011 est.) |
Natural gas - production:
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58.6 billion cu m (2009 est.) |
Natural gas - production per capita:
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2,040 cu m per capita |
Natural gas - consumption:
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29.07 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
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1,012 cu m per capita |
Natural gas - exports:
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30.79 billion cu m (2009 est.) |
Natural gas - imports:
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1.269 billion cu m (2009 est.) |
Natural gas - proved reserves:
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2.35 trillion cu m (1 January 2011 est.) |
Agriculture - products:
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Peninsular Malaysia - rubber, palm oil, cocoa, rice; Sabah - subsistence crops, coconuts, rice; rubber, timber; Sarawak - rubber, timber; pepper |
Current account balance:
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$32.99 billion (2011 est.)
$32.19 billion (2010 est.) |
Current account balance - per capita:
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1,149 USD per capita |
Exports:
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$212.7 billion (2011 est.)
$197 billion (2010 est.) |
Exports per capita:
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7,404 USD per capita |
Exports - commodities:
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electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals |
Exports - partners:
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Singapore 13.4%, China 12.6%, Japan 10.4%, US 9.5%, Thailand 5.3%, Hong Kong 5.1% (2010 est.) |
Imports:
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$168 billion (2011 est.)
$152.6 billion (2010 est.) |
Imports per capita:
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5,848 USD per capita |
Imports - commodities:
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electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals |
Imports - partners:
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China 12.6%, Japan 12.6%, Singapore 11.4%, US 10.7%, Thailand 6.2%, Indonesia 5.6% (2010 est.) |
Reserves of foreign exchange and gold:
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$129.6 billion (31 December 2011 est.)
$106.5 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
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4,512 USD per capita |
Debt - external:
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$78.18 billion (31 December 2011 est.)
$70.18 billion (31 December 2010 est.) |
Debt - external - per capita:
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2,722 USD per capita |
Stock of direct foreign investment - at home:
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$82.99 billion (31 December 2011 est.)
$77.44 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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2,889 USD per capita |
Stock of direct foreign investment - abroad:
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$90.15 billion (31 December 2011 est.)
$82.65 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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3,138 USD per capita |
Market value of publicly traded shares:
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$410.5 billion (31 December 2010)
$256 billion (31 December 2009)
$187.1 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
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14,289 USD per capita |
Currency (code):
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ringgit (MYR) |
Exchange rates:
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ringgits (MYR) per US dollar -
3.006 (2011 est.)
3.22 (2010 est.)
3.52 (2009)
3.33 (2008)
3.46 (2007) |
Fiscal year:
|
calendar year |
|
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