Malaysia Economy 2015

http://www.theodora.com/wfbcurrent/malaysia/malaysia_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES

Page last updated on June 20, 2014

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. NAJIB's Economic Transformation Program (ETP) is a series of
projects and policy measures intended to accelerate the country's economic growth. The
government has also taken steps to liberalize some services sub-sectors. 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 sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal
shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the
2015 implementation of a 6% goods and services tax. The government is also trying to lessen its
dependence on state oil producer Petronas. The oil and gas sector supplies about 32% of
government revenue in 2013. Bank Negara Malaysia (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 earlier
raised possible revisions to the special economic and social preferences accorded to ethnic
Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered
significant opposition from Malay nationalists and other vested interests. In September 2013
NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor
and advance the economic condition of ethnic Malays.
GDP (purchasing power parity):
$525 billion (2013 est.)
country comparison to the world: 30
$501.5 billion (2012 est.)
$474.7 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]
GDP (official exchange rate):
$312.4 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
4.7% (2013 est.)
country comparison to the world: 63
5.6% (2012 est.)
5.1% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:

$17,500 (2013 est.)
country comparison to the world: 79
$17,000 (2012 est.)
$16,400 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
Gross national saving:
32.3% of GDP (2013 est.)
country comparison to the world: 19
31.9% of GDP (2012 est.)
34.9% of GDP (2011 est.)
[see also: Gross national saving country ranks ]
GDP - composition, by end use:
household consumption: 50.1%
government consumption: 13.9%
investment in fixed capital: 26.2%
investment in inventories: 0.8%
exports of goods and services: 84.1%
imports of goods and services: -75.2%
(2013 est.)
GDP - composition, by sector of origin:
agriculture: 11.2%
industry: 40.6%
services: 48.1% (2013 est.)
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, petroleum and natural
gas, light manufacturing, pharmaceuticals, medical technology, electronics and semi-conductors,
timber processing; Sabah - logging, petroleum and natural gas production; Sarawak - agriculture
processing, petroleum and natural gas production, logging
Industrial production growth rate:
5% (2013 est.)
country comparison to the world: 57
[see also: Industrial production growth rate country ranks ]
Labor force:
13.19 million (2013 est.)
country comparison to the world: 41
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 11.1%

industry: 36%
services: 53.5% (2012 est.)
Unemployment rate:
3.1% (2013 est.)
country comparison to the world: 23
3% (2012 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%
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 ]
Budget:
revenues: $65.72 billion
expenditures: $79.4 billion (2013 est.)
Taxes and other revenues:
21% of GDP (2013 est.)
country comparison to the world: 155
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-4.4% of GDP (2013 est.)
country comparison to the world: 157
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
54.6% of GDP (2013 est.)
country comparison to the world: 58
53.3% of GDP (2012 est.)
note: this figure is based on the amount of federal government debt, RM501.6 billion ($167.2
billion) in 2012; this includes Malaysian Treasury bills and other government securities, as well as
loans raised externally and bonds and notes issued overseas; this figure excludes debt issued by
non-financial public enterprises and guaranteed by the federal government, which was an
additional $47.7 billion in 2012
[see also: Public debt country ranks ]
Fiscal year:
calendar year

Inflation rate (consumer prices):

2.2% (2013 est.)
country comparison to the world: 75
1.7% (2012 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:
4.5% (31 December 2013 est.)
country comparison to the world: 156
4.7% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$97.03 billion (31 December 2013 est.)
country comparison to the world: 35
$93.89 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
Stock of broad money:
$439.7 billion (31 December 2013 est.)
country comparison to the world: 24
$435.2 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
Stock of domestic credit:
$421 billion (31 December 2013 est.)
country comparison to the world: 30
$412.4 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$476.3 billion (31 December 2012 est.)
country comparison to the world: 23
$395.1 billion (31 December 2011)
$NA (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]
Current account balance:
$16.67 billion (2013 est.)
country comparison to the world: 18

$18.64 billion (2012 est.)

[see also: Current account balance country ranks ]
Exports:
$230.7 billion (2013 est.)
country comparison to the world: 24
$227.7 billion (2012 est.)
[see also: Exports country ranks ]
Exports - commodities:
semiconductors and electronic equipment, palm oil, petroleum and liquefied natural gas, wood and
wood products, palm oil, rubber, textiles, chemicals, solar panels
Exports - partners:
Singapore 13.6%, China 12.6%, Japan 11.8%, US 8.7%, Thailand 5.4%, Hong Kong 4.3%, India
4.2%, Australia 4.1% (2012)
Imports:
$192.9 billion (2013 est.)
country comparison to the world: 27
$186.9 billion (2012 est.)
[see also: Imports country ranks ]
Imports - commodities:
electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Imports - partners:
China 15.1%, Singapore 13.3%, Japan 10.3%, US 8.1%, Thailand 6%, Indonesia 5.1%, South
Korea 4.1% (2012)
Reserves of foreign exchange and gold:
$139.4 billion (31 December 2013 est.)
country comparison to the world: 20
$139.7 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
Debt - external:
$100.1 billion (31 December 2013 est.)
country comparison to the world: 48
$98.82 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]
Stock of direct foreign investment - at home:
$143.4 billion (31 December 2013 est.)
country comparison to the world: 33
$132.4 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:

$133.5 billion (31 December 2013 est.)
country comparison to the world: 27
$120.4 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
Exchange rates:
ringgits (MYR) per US dollar 3.174 (2013 est.)
3.09 (2012 est.)
3.22 (2010 est.)
3.52 (2009)
3.33 (2008)

NOTE: The information regarding Malaysia on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence
Agency. No claims are made regarding the accuracy of Malaysia Economy 2015 information contained here. All suggestions for corrections of any
errors about Malaysia Economy 2015 should be addressed to the CIA.