Location: Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and the South China Sea, south of Vietnam
Population: 30,638,600 (2015 est.)
Land Area: 330257 km2
Capital: Kuala Lumpur
Main cities: Kelang, Johor Bharu
Languages: Bahasa Malaysia (official), English, Chinese
GDP: $340.002 billion (2013 est.)
Monetary unit: Ringgit
Exports: $160.8 billion f.o.b. (2006 est.)
Exports – commodities: electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals
Exports – partners: US 18.8%, Singapore 15.4%, Japan 8.9%, China 7.2%, Thailand 5.3%, Hong Kong 4.9% (2006)
Imports: $124 billion f.o.b. (2006 est.)
Imports – commodities: electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Imports – partners: Japan 13.3%, US 12.6%, China 12.2%, Singapore 11.7%, Thailand 5.5%, Taiwan 5.5%, South Korea 5.4%, Germany 4.4% (2006)
Land use:
arable land: 5.46%
permanent crops: 17.54%
other: 77% (2005)
Natural resources: tin, petroleum, timber, copper, iron ore, natural gas, bauxite
Economy Overview
Malaysia is a growing and relatively open economy. Malaysia has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. The Government of Malaysia is continuing efforts to boost domestic demand to wean the economy off of its dependence on exports. Nevertheless, exports - particularly of electronics - 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 forced Kuala Lumpur to reduce government subsidies.
The government presented its five-year national development agenda in April 2006 through the Ninth Malaysia Plan, a comprehensive blueprint for the allocation of the national budget from 2006-10. Malaysia has unveiled a series of ambitious development schemes for several regions that have had trouble attracting business investment. Real GDP growth has averaged about 6% per year under, but regions outside of Kuala Lumpur and the manufacturing hub Penang have not fared as well. The central bank maintains healthy foreign exchange reserves and the regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crises. Decreasing worldwide demand for consumer goods is expected to hurt economic growth, however.
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