Wednesday, 27 April 2011

Everything you need to know about Malaysian Economy - Source - CIA

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.

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, decreasing worldwide demand for consumer goods
 hurt Malaysia's exports and economic growth in 2009, although both showed signs
of recovery in 2010.

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)
$416.7 billion (2010 est.)
country comparison to the world: 30
$388.8 billion (2009 est.)
$395.5 billion (2008 est.)
note: data are in 2010 US dollars

GDP (official exchange rate)
$219 billion (2010 est.)

GDP - real growth rate
7.2% (2010 est.)
country comparison to the world: 23
-1.7% (2009 est.)
4.7% (2008 est.)

GDP - per capita (PPP)
$14,700 (2010 est.)
country comparison to the world: 77
$14,000 (2009 est.)
$14,500 (2008 est.)
note: data are in 2010 US dollars

GDP - composition by sector
agriculture: 9.1%
industry: 41.6%
services: 49.3% (2010 est.)

Labor force
12.2 million (2010 est.)
country comparison to the world: 42

Labor force - by occupation
agriculture: 13%
industry: 36%
services: 51% (2005 est.)

Unemployment rate
3.5% (2010 est.)
country comparison to the world: 28
3.7% (2009 est.)

Population below poverty line
3.6% (2007 est.)

Household income or consumption by percentage share
lowest 10%: 2.6%
highest 10%: 28.5% (2005 est.)

Distribution of family income - Gini index
44.1 (2009)
country comparison to the world: 44
49.2 (1997)

Investment (gross fixed)
20.1% of GDP (2010 est.)
country comparison to the world: 87

Budget
revenues: $46.78 billion
expenditures: $46.34 billion (2010 est.)

Public debt
53.1% of GDP (2010 est.)
country comparison to the world: 49
53.3% of GDP (2009 est.)

Inflation rate (consumer prices)
1.7% (2010 est.)
country comparison to the world: 44
0.6% (2009 est.)
note: approximately 30% of goods are price-controlled

Central bank discount rate
2.83% (31 December 2010)
country comparison to the world: 134
1% (31 December 2009)

Commercial bank prime lending rate
6.27% (31 December 2010 est.)
country comparison to the world: 138
5.51% (31 December 2009 est.)

Stock of narrow money
$73.8 billion (31 December 2010 est.)
country comparison to the world: 37
$64.8 billion (31 December 2009 est.)

Stock of broad money
$358.1 billion (31 December 2010 est.)
country comparison to the world: 24
$319.2 billion (31 December 2009 est.)

Stock of domestic credit
$314.7 billion (31 December 2010 est.)
country comparison to the world: 33
$265.2 billion (31 December 2009 est.)

Market value of publicly traded shares
$256 billion (31 December 2009)
country comparison to the world: 25
$187.1 billion (31 December 2008)
$325.7 billion (31 December 2007)

Agriculture - products
Peninsular Malaysia - rubber, palm oil, cocoa, rice; Sabah - subsistence crops,
coconuts, rice; rubber, timber; Sarawak - 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
7.5% (2010 est.)
country comparison to the world: 36

Electricity - production
107.4 billion kWh (2009 est.)
country comparison to the world: 32

Electricity - consumption
93.8 billion kWh (2009 est.)
country comparison to the world: 31

Electricity - exports
91.7 million kWh (2009 est.)

Electricity - imports
0 kWh (2009 est.)

Oil - production
693,700 bbl/day (2009 est.)
country comparison to the world: 28

Oil - consumption
536,000 bbl/day (2009 est.)
country comparison to the world: 31

Oil - exports
511,900 bbl/day (2007 est.)
country comparison to the world: 30

Oil - imports
314,600 bbl/day (2007 est.)
country comparison to the world: 35

Oil - proved reserves
2.9 billion bbl (1 January 2010 est.)
country comparison to the world: 32

Natural gas - production
57.3 billion cu m (2008 est.)
country comparison to the world: 17

Natural gas - consumption
26.27 billion cu m (2008 est.)
country comparison to the world: 30

Natural gas - exports
31.03 billion cu m (2008 est.)
country comparison to the world: 8

Natural gas - imports
0 cu m (2008 est.)
country comparison to the world: 89  

Natural gas - proved reserves
2.35 trillion cu m (1 January 2010 est.)
country comparison to the world: 16

Current account balance
$34.14 billion (2010 est.)
country comparison to the world: 13
$33.24 billion (2009 est.)

Exports
$210.3 billion (2010 est.)
country comparison to the world: 22
$163.2 billion (2009 est.)

Exports - commodities
electronic equipment, petroleum and liquefied natural gas, wood and wood products,
palm oil, rubber, textiles, chemicals

Exports - partners
Singapore 13.4%, China 12.6%, Japan 10.4%, US 9.5%, Thailand 5.3%,
Hong Kong 5.1% (2010 est.)

Imports
$174.3 billion (2010 est.)
country comparison to the world: 23
$128.3 billion (2009 est.)

Imports - commodities
electronics, machinery, petroleum products, plastics, vehicles, iron and
steel products, chemicals

Imports - partners
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
$106.5 billion (31 December 2010 est.)
country comparison to the world: 15
$96.71 billion (31 December 2009 est.)

Debt - external
$72.6 billion (31 December 2010 est.)
country comparison to the world: 45
$67.4 billion (31 December 2009 est.)

Stock of direct foreign investment - at home
$77.44 billion (31 December 2010 est.)
country comparison to the world: 46
$74.64 billion (31 December 2009 est.)

Stock of direct foreign investment - abroad
$82.65 billion (31 December 2010 est.)
country comparison to the world: 27 
$75.62 billion (31 December 2009 est.)

Exchange rates:
ringgits (MYR) per US dollar -
3.04 (2010)
3.52 (2009)
3.33 (2008)
3.46 (2007)
3.6683 (2006)

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