An Intro to Malaysian Economy

Malaysia is 329,613 square kilometers and the 66th largest in the world with 30.33 million inhabitants. Malaysia has a total of 13 states and three federal territories and is divided into Malaysia and East Malaysia. Sabah, Sarawak and Labuan are located in southeastern Malaysia, the remaining 11 countries and two federal zones, Kuala Lumpur and Putrajaya, in the Malaysian Peninsula.

Malaysia's gross domestic product in 2015 will amount to $ 296.22 billion, while Malaysia's gross domestic product accounts for 0.48 percent of the global economy. Malaysia's gross domestic product in the period from 1960 to 2015 amounted to $ 79.67 billion and reached $ 338.1 billion in 2014 and reached $ 2.42 billion in 1961.

According to the IMF and the World Bank, Malaysia is among the top 20 economies in terms of its competitiveness. Malaysia is also the seventh largest economy among Islamic countries in terms of gross domestic product. The Malaysian economic system is largely unproven, a liberal economy that regulates national interests by regaining control of the state and returning its national wealth to trade, investment, production and services.

The economic development of Malaysia is largely a consequence of the richness of natural resources in agriculture and forestry. Some of the country's main products are cocoa, rice, rubber, palm and yellow. In addition, Malaysia has natural resources, including, LNG, oil, minerals and tin. Oil production in October 2015 amounted to 619 thousand barrels.

Electronic components significantly contribute to production and exports in Malaysia. It is the world's largest exporter of semiconductor devices and electrical appliances and equipment. The Malaysian service sector mainly covers finance, telecommunications, Islamic banking, education and tourism.

Malaysia is at the heart of ASEAN and a region that is dynamically developing and promising growth prospects. The establishment of the ASEAN Economic Community (AEC) in 2015 will play an important role in the ASEAN regional economic integration program and will cost $ 2.6 trillion. Dollars and more than 622 million lives. In 2014, AES has become the third largest economy in Asia and the seventh largest economy in the world.