Malaysia has experienced economic growth during the past decade. Exports account for more than 65 percent of the country’s GDP and for a significant share of its labor market. Principal exports include consumer electronics, petroleum, chemicals, and palm oil.
Rich in natural resources such as timber and oil, Malaysia has developed a leading position in the production and refining of palm oil. Its large industrial production leading in electronics, pharmaceuticals and medical technologies, also make Malaysia a strong industrial country.
Services however have also developed exponentially in Malaysia: a notable leader in the region for digital technologies, e-commerce and mobile applications, Malaysia is also an important financial center, and more specifically in Islamic finance, where Malaysia has become a global leader.
Growth with Equity.
– Growth aimed at the global market
– Invest in human resources
– Economic governance
Key FDI’s Sectors in 2022
- Petroleum
- Chemicals
- E&E Products
Malaysia has seven bilateral Free Trade Agreements (FTAs) with the following countries: Australia, Chile, India, Japan, New Zealand, Pakistan, and Turkey. The Association of Southeast Asian Nations (ASEAN) members have established the ASEAN Free Trade Area.
Greater regulatory efficiency
has been implemented in recent years, and licensing requirements are now less time-consuming and bureaucratic. Labor regulations are now more modern and flexible, but the labor market remains fragmented. The most recent available inflation rate is 2.5 percent.
2022 MALAYSIA IN BRIEF
Total population = 33.9 million
GDP = USD 406.3 billion
GDP per Capita = USD 12,472
GDP Growth = 8.7%
Trade Balance = USD 28.2 billion
Minimum Wage = 328 THB/day
Top 10 Export
Total Value = USD 352.5 billion
COUNTRY/REGION
1. Singapore (14.9%)
2. China (13.5%)
3. United States of America (10.7%)
4. Japan (6.3%)
5. Hong Kong (6.2%)
6. Thailand (4.2%)
7. Indonesia (3.6%)
8. Korea (3.5%)
9. India (3.5%)
10. Vietnam (3.5%)
PRODUCT
1. Electronic Integrated circuits (22.0%)
2. Petroleum oils, other than crude (9.8%)
3. Petroleum gases (4.8%)
4. Palm oil (4.8%)
5. Semiconductor devices (2.6%)
6. Electrical apparatus (2.3%)
7. Petroleum oils, crude (2.3%)
8. Automatic data processing machines (2.2%)
9. Storage devices (2.1%)
10. Oscilloscopes, spectrum analyzers (1.7%)
Top 10 Import
Total Value = USD 294.3 billion
COUNTRY/REGION
- China (21.0%)
- Singapore (10.4%)
- Other Asia (8.2%)
- United States of America (7.8%)
- Japan (6.4%)
- Indonesia (5.7%)
- Korea (4.6%)
- Thailand (4.3%)
- Australia (3.1%)
- Saudi Arabia (2.9%)
PRODUCT
1. Electronic Integrated circuits (18.1%)
2. Petroleum oils, other than crude (10.7%)
3. Petroleum oils, crude (4.1%)
4. Coal (2.4%)
5. Semiconductor devices (1.5%)
6.Electrical apparatus (1.4%)
7. Gold (1.3%)
8. Parts and accessories of motor vehicles (1.3%)
9. Printed circuits (1.3%)
10. Automatic data processing machines (1.2%)