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Malaysia
| Economy Overview |
| Malaysia, a middle-income country, transformed itself from 1971 through the late 1990's from a producer of raw materials into an emerging multi-sector economy. Growth was almost exclusively driven by exports - particularly of electronics. As a result, Malaysia was hard hit by the global economic downturn and the slump in the information technology (IT) sector in 2001 and 2002. GDP in 2001 grew only 0.5% due to an estimated 11% contraction in exports, but a substantial fiscal stimulus package equal to US $1.9 billion mitigated the worst of the recession and the economy rebounded in 2002 with a 4.1% increase. The economy grew 4.9% in 2003, notwithstanding a difficult first half, when external pressures from SARS and the Iraq War led to caution in the business community. Growth topped 7% in 2004. Healthy foreign exchange reserves, low inflation, and a small external debt are all strengths that make it unlikely that Malaysia will experience a financial crisis similar to the one in 1997. The economy remains dependent on continued growth in the US, China, and Japan, top export destinations and key sources of foreign investment. |
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| Economy Statistics |
| Exports: |
$123.5 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 18.8%, Singapore 15%, Japan 10.1%, China 6.7%, Hong Kong 6%, Thailand 4.8% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$99.3 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Japan 16.1%, US 14.6%, Singapore 11.2%, China 9.9%, Thailand 5.6%, Taiwan 5.5%, South Korea 5%, Germany 4.5%, Indonesia 4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Malaysian International Chamber Of Commerce & Industry |
| Address: |
C-8-8, 8th Floor, Block C
Plaza Mont’ Kiara
2 Jalan Kiara, Mont’ Kiara
50480 Kuala Lumpur |
| Phone: |
+603 6201-7708 |
| Fax: |
+603 6201-7705 / 06 |
| Website: |
http://www.micci.com/ |
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