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. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.The NAJIB administration 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. Gross exports of goods and services constitute more than 80% of GDP. The oil and gas sector supplied about 29% of government revenue in 2014. As an oil and gas exporter, Malaysia has previously profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. Falling global oil prices in the second half of 2014 have strained government finances, shrunk Malaysia’s current account surplus and put downward pressure on the ringgit. The government is trying to lessen its dependence on state oil producer Petronas.Bank Negara Malaysia (the central bank) maintains healthy foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. In order to attract increased investment, NAJIB raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays.Malaysia is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.

GDP (purchasing power parity):
$813.5 billion (2015 est.) $777 billion (2014 est.) $733.1 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 29
[see also: GDP country ranks ]

GDP (official exchange rate):
$313.5 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.7% (2015 est.) 6% (2014 est.) 4.7% (2013 est.)
country comparison to the world: 50
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$26,600 (2015 est.) $25,400 (2014 est.) $24,000 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 68
[see also: GDP - per capita country ranks ]

Gross national saving:
28.8% of GDP (2015 est.) 29.3% of GDP (2014 est.) 29.4% of GDP (2013 est.)
country comparison to the world: 26
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 54%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 13.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.9%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 74.6%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -69.1% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 8.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 35%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 56.1% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
Peninsular Malaysia - palm oil, rubber, cocoa, rice; Sabah - palm oil, subsistence crops; rubber, timber; Sarawak - palm oil, rubber, timber; pepper

Industries:
Peninsular Malaysia - rubber and oil palm processing and manufacturing, petroleum and natural gas, light manufacturing, pharmaceuticals, medical technology, electronics and semiconductors, timber processing; Sabah - logging, petroleum and natural gas production; Sarawak - agriculture processing, petroleum and natural gas production, logging

Industrial production growth rate:
5.5% (2015 est.)
country comparison to the world: 25
[see also: Industrial production growth rate country ranks ]

Labor force:
14.3 million (2015 est.)
country comparison to the world: 41
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 11%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 36%
[see also: Labor force - by occupation - industry country ranks ]
services: 53% (2012 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
2.7% (2015 est.) 2.9% (2014 est.)
country comparison to the world: 20
[see also: Unemployment rate country ranks ]

Population below poverty line:
3.8% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 34.7% (2009 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
46.2 (2009) 49.2 (1997)
country comparison to the world: 33
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $52.97 billion
[see also: Budget revenues country ranks ]
expenditures: $64.25 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
16.9% of GDP (2015 est.)
country comparison to the world: 181
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.6% of GDP (2015 est.)
country comparison to the world: 136
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
53.5% of GDP (2015 est.) 52.7% of GDP (2014 est.)
note: this figure is based on the amount of federal government debt, RM501.6 billion ($167.2 billion) in 2012; this includes Malaysian Treasury bills and other government securities, as well as loans raised externally and bonds and notes issued overseas; this figure excludes debt issued by non-financial public enterprises and guaranteed by the federal government, which was an additional $47.7 billion in 2012
country comparison to the world: 70
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.1% (2015 est.) 3.1% (2014 est.)
note: approximately 30% of goods are price-controlled
country comparison to the world: 116
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
3% (31 December 2011) 2.83% (31 December 2010)
country comparison to the world: 106
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.8% (31 December 2015 est.) 4.67% (31 December 2014 est.)
country comparison to the world: 149
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$84.18 billion (31 December 2015 est.) $99.12 billion (31 December 2014 est.)
country comparison to the world: 40
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$478.7 billion (31 December 2014 est.) $440.3 billion (31 December 2013 est.)
country comparison to the world: 24
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$381.2 billion (31 December 2015 est.) $444.8 billion (31 December 2014 est.)
country comparison to the world: 31
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$476.3 billion (31 December 2012 est.) $395.1 billion (31 December 2011) $410.5 billion (31 December 2010 est.)
country comparison to the world: 24
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$6.935 billion (2015 est.) $14.46 billion (2014 est.)
country comparison to the world: 25
[see also: Current account balance country ranks ]

Exports:
$203.8 billion (2015 est.) $224.9 billion (2014 est.)
country comparison to the world: 24
[see also: Exports country ranks ]

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

Exports - partners:
Singapore 14.2%, China 12%, Japan 10.8%, US 8.4%, Thailand 5.3%, Hong Kong 4.8%, Australia 4.3%, India 4.2%, Indonesia 4.2% (2014)

Imports:
$174.7 billion (2015 est.) $189.8 billion (2014 est.)
country comparison to the world: 26
[see also: Imports country ranks ]

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

Imports - partners:
China 16.9%, Singapore 12.6%, Japan 8%, US 7.7%, Thailand 5.8%, South Korea 4.6%, Indonesia 4.1% (2014)

Reserves of foreign exchange and gold:
$89.86 billion (31 December 2015 est.) $115.9 billion (31 December 2014 est.)
country comparison to the world: 27
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$213.9 billion (31 December 2014 est.) $212.3 billion (31 December 2013 est.)
country comparison to the world: 34
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$166.8 billion (31 December 2015 est.) $155.8 billion (31 December 2014 est.)
country comparison to the world: 33
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$161.5 billion (31 December 2015 est.) $149.5 billion (31 December 2014 est.)
country comparison to the world: 28
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
ringgits (MYR) per US dollar - 3.9 (2015 est.) 3.27 (2014 est.) 3.27 (2013 est.) 3.09 (2012 est.) 3.06 (2011 est.)