Malaysia Economy 1997

Economy - overview The Malaysian economy, a mixture of private enterprise and public management,has posted a remarkable record of 9% average annual growth in 1988-96. Thisgrowth has resulted in a substantial reduction in poverty and a marked risein real wages. In 1996 manufactured goods exports expanded less rapidly thanin previous years because of the global slump in electronics; nonetheless,foreign investors continue to commit large sums in the economy. The governmentis aware of the inflationary potential of this rapid development and is closelymonitoring fiscal and monetary policies.

GDP purchasing power parity - $214.7 billion (1996 est.)

GDP - real growth rate 8.2% (1996 est.)

GDP - per capita purchasing power parity - $10,750 (1996 est.)

GDP - composition by sector
agriculture: 14%
industry: 45%
services: 41% (1995 est.)

Inflation rate - consumer price index 3.5% (1996)

Labor force
total: 8.398 million (1996 est.)
by occupation: manufacturing 25%, agriculture, forestry, and fisheries 21%, local tradeand tourism 17%, services 12%, government 11%, construction 8% (1996)

Unemployment rate 2.6% (1996 est.)

Budget
revenues: $22.6 billion
expenditures: $22 billion, including capital expenditures of $5.3 billion (1996 est.)

Industries Peninsular Malaysia - rubber and oil palm processing and manufacturing,light manufacturing industry, electronics, tin mining and smelting, loggingand processing timber; Sabah - logging, petroleum production; Sarawak - agricultureprocessing, petroleum production and refining, logging

Industrial production growth rate 12% (1994)

Electricity - capacity 7.83 million kW (1994)

Electricity - production 37.85 billion kWh (1994)

Electricity - consumption per capita 1,983 kWh (1995 est.)

Agriculture - products Peninsular Malaysia - natural rubber, palm oil, rice; Sabah - subsistencecrops, rubber, timber, coconut, rice; Sarawak - rubber, pepper; timber

Exports
total value: $84.6 billion (1996)
commodities: electronic equipment, petroleum and petroleum products, palm oil, woodand wood products, rubber, textiles
partners : US 21%, Singapore 20%, Japan 12%, Hong Kong 5%, UK 4%, Thailand 4%,Germany 3% (1995)

Imports
total value: $83.2 billion (1996)
commodities: machinery and equipment, chemicals, food
partners: Japan 27%, US 16%, Singapore 12%, Taiwan 5%, Germany 4%, South Korea4% (1995)

Debt - external $27.5 billion (1995 est.)

Economic aid
recipient: ODA, $45 million (1993)

Currency 1 ringgit (M$) = 100 sen

Exchange rates ringgits (M$) per US$1 - 2.4914 (January 1997), 2.5158 (1996), 2.5044(1995), 2.6243 (1994), 2.5741 (1993), 2.5474 (1992)

Fiscal year calendar year

NOTE: The information regarding Malaysia on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malaysia Economy 1997 information contained here. All suggestions for corrections of any errors about Malaysia Economy 1997 should be addressed to the CIA.