The Malaysian economy is mainly dependent on the industrial sector of the nation comprising of the electronics, metallurgy (tin), light manufacturing, and smelting industries.
The industry related with the production and refining of petroleum comprises a major portion of the GDP of Malaysia.
Following the major economic slump which was termed as the Asian Financial Crisis at the close of the millennium, the economy of Malaysia has regained some of its lost ground. As of the present, the foreign exchange rate of the Ringgit (the national currency of Malaysia) which had lost almost 50 percent of its value, has appreciated substantially.
The national Gross Domestic Product or GDP of Malaysia, with an amount that is close to USD39 Billions, is ranked thirty fourth ( 34th )in the world, whereas the real growth rate of the GDP of Malaysia has increased almost to a 6 percent in the previous financial year.
The major trading partners of Malaysia being the U.S.A.,Japan, and Singapore; Malaysia exports manufactured electronics to these nations in addition to petroleum, palm oil, rubber and liquefied natural gas, and in turn imports machinery, plastics, vehicles, and iron and steel products.
|Year||GDP % Change||Inflation % Change||Year||GDP % Change||Inflation % Change|
Source: World Bank
|Last Updated on : 05th March 2015||Next Update : February 2016|