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Malaysian country overview
Before we start with Malaysian GDP, first we talk about the Malaysian general overview. So, It is officially called Malaysia. It is located in Southeast Asia and the South China sea. It shares its maritime border with Thailand, Singapore, Vietnam, and Indonesia. Its largest and Capital city name is Kuala Lumpur.
Its official and national language is Malaysian. Its recognized language is English. When we talk about its Ethnic groups, 68% Bumiputera, 22% Chinese, 6.7% Indians and others live in Malaysia. In religions, 61% Islam, 20% Buddhism, 9% Christianity, 6% Hinduism and others.
When we talk about its government system, its government system is the Federal parliamentary elective constitutional monarchy. Its prime minister’s name is Ismail Sabri Yaakov. Its King name is Yang di-Pertuan Agong. Its total area is 330,805 km2.
Its Area rank is 67th in the world. Its total population is 32,730,100 in the year 2020. Its population rank is 43rd in the world. Malaysian population density is 92 / km2. Its population density rank is 116th in the world.
Malaysian Economy overview
The Malaysian currency is called Ringgit. It is generally called the Developing or Emerging Country and the Upper-middle income economy. The inflation rate in Malaysia is -1.0% in the year 2020.
When we talk about poverty in Malaysia, 5.5% of the Malaysian population will live below the poverty line in the year 2020. When we talk about Human Development in Malaysia, the Malaysian Human Development Index is 0.810 in the year 2019.
This GDP is considered very high in the world. Its HDI rate is 62nd in the world. The total Labour force of Malaysia is 15,788,500 in the year 2019. When we talk about its Labour force by occupation, so agriculture: 11%, industry: 35%, and services are 54% in the year 2012.
The unemployment rate in Malaysia is 3.5% in 2017. Malaysian gross external debt is $218 billion in the year 2017. Its Foreign reserves are $103 billion in the year 2019.
Malaysian GDP
Malaysia’s total GDP is $387 billion (nominal) and $980 billion (PPP) in the year 2021. Its GDP rank is 36th (nominal) and 30th (PPP) in the year 2021. Its GDP growth rate is 6.8% in the year 2021.
Malaysian GDP per capita is $11,610 (nominal) and $29,350 (PPP) in the year 2021. When we talk about its GDP by sector, so agriculture: was 7%, industry: had 37%, and services are 56% in the year 2016.
Exports
Malaysian total exports are $264 billion in the year 2017. Its main export goods are Palm oil, natural gas, chemicals, wood products, optical, metal, rubber, etc. Its main export partners are China, Singapore, the United States, Japan, India, Thailand, etc.
Imports
Its total imports are $198 billion in the year 2017. Its main import goods are Electrical and electronics products, chemicals, petroleum, iron, metal, etc. Malaysian Main import partners are China, Singapore, the United States, Japan, South Korea, etc.
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