Malaysian economy

Economy of Malaysia
Statistics
Kuala Lumpur, financial centre of Malaysia and its cultural hub.
Currency	Ringgit
Fiscal year	Calendar year
Trade organisations	APEC, ASEAN, IOR-ARC, WTO, TPP
GDP	$815.645 billion (PPP 2016 est.) $296.359 billion (Nominal 2016 est.)
GDP growth	5.8% (Q2,2017)
GDP per capita	$28,281 (PPP, 2017 est.) $10,503 (nominal, 2017 est.)
GDP by sector	(2016) Agriculture: 7.1% Industry: 36.8% Services: 56.2%
Inflation (CPI)	3.6% (June 2017)
Population below poverty line	0.6% (2016)
Gini coefficient	43.1 (2016 est.)
Labour force	15.03 million (June 2017)
Labour force by occupation	(2012) Agriculture: 11.1% Industry: 36% Services: 53.5%
Unemployment	3.4% (June 2017)
Main industries	List Electronics, Semiconductor, Microchips, Integrated circuit, Rubber, Oleochemicals, Automobile, Optical devices, Pharmaceuticals, Medical equipment, Smelting, Timber, Wood pulp, Islamic finance, Petroleum, Liquified natural gas, Petrochemicals
Ease-of-doing-business rank	23rd (2017)
External
Exports	$175.7 billion (2015 est.)
Export goods	semiconductor & electronic products, palm oil, liquefied natural gas, petroleum, chemicals, machinery, vehicles, optical & scientific equipment, manufactures of metal, rubber, wood and wood products
Main export partners	Singapore 13.6% China 12.6% Japan 11.8% United States 8.7% Thailand 5.4% Hong Kong 4.3% India 4.2% Australia 4.1% (2012 est.)
Imports	147.7 billion (2015 est.)
Import goods	electrical & electronic products, machinery, chemicals, petroleum, plastics, vehicles, manufactures of metal, iron and steel products
Main import partners	China 15.1% Singapore 13.3% Japan 10.3% United States 8.1% Thailand 6.0% Indonesia 5.1% South Korea 4.1% (2012 est.)
FDI stock	$77.4 billion (31 December 2010 est.)
Gross external debt	$213.9 billion (est. 2014)
Public finances
Revenues	$65.72 billion (2013 est.)
Expenses	$79.4 billion (2013 est.)
Economic aid	$31.6 million (2005 est.)
Credit rating	Standard & Poor's: A+ (Domestic) A- (Foreign) A+ (T&C Assessment) Outlook: Stable Moody's: A3 Outlook: Positive Fitch: A- Outlook: Stable
Foreign reserves	US$94.5 billion (August 2015)
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars.

The economy of Malaysia is the third largest in Southeast Asia, despite ranking seventh in terms of population size amongst all ASEAN countries. By extension, Malaysian quality of live is therefore significantly much higher than Indonesia and Thailand. Malaysia also featured the 35th largest economy in the world. Its economy is the sixth most competitive national economy on the Asian continent after Singapore, Qatar, Israel, United Arab Emirates and Japan based on Global Competitiveness Report 2017 . Its economy is more competitive than Iceland, China, Spain, Mexico and South Korea.

Due to more equal wealth distribution through government effort such as generous pension scheme, cash transfer, elderly benefits, free primary and secondary education, free public healthcare, grants for businesses and subsidized university education, Malaysian citizens on average have a very affluent lifestyle relative to their peers in upper-middle income countries like Mexico, Turkey or Brazil with income per capita of 27,681 PPP Dollar or 9,560 nominal US Dollar in year 2016. This makes it the third wealthiest in Southeast Asia after the smaller city-states of Singapore and Brunei. It shy just 2200 US Dollar from World Bank high income country definition. Malaysia has a newly industrialised market economy, which is relatively open and state-oriented. The Malaysian economy is highly robust and diversified with the export value of high-tech products in 2015 standing at 57.258 billion USD, the second highest after Singapore in ASEAN . Malaysia exports the second largest volume and value of palm oil products globally after Indonesia.

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