Economic Background: Malaysia benefits from one of the strongest economies in Southeast Asia. Economic growth is mainly driven by exports of raw materials and manufactured goods.  

Malaysia’s major export production is in the electronic goods sector, which accounted for 56% of total exports in 2002. Besides electronics Malaysia established itself as the largest producer and exporter of palm oil and rubber products. Other exports include wood and wood products, textiles, chemicals, petroleum and liquefied natural gas. Malaysia’s main export partners are the US followed by Singapore, Japan, Hong Kong, the Netherlands, China and Thailand.    

  Currency: Malaysia’s currency is the Malaysian Ringgit (MYR). Since September 1998, the Malaysian Ringgit has been pegged to the USD. The exchange rate is MYR 3.8 per one U.S. Dollar.

Industries:Major industries in Peninsular Malaysia include rubber and oil palm processing and manufacturing, light manufacturing, electronics, tin mining and smelting, logging and processing timber. On Sabah and Sarawak the petroleum production and refining and agriculture processing are the major industrial activities.

GDP Composition by Sector:The dominant sector in Malaysia are services with 48% followed by the industrial sector with 40%. The agricultural sector accounts for 12% of total GDP.

Export Products:Malaysia’s major export product is electronic equipment, which accounted for 56% of total exports in 2002. Other export products include palm oil, rubber, wood & wood products, textiles, chemicals, petroleum, liquefied natural gas and automotive equipment.  

Export Partners:Malaysia’s main export partners are the US (20%) followed by Singapore (17%), Japan (14%), Hong Kong (4,5%), the Netherlands (4,5%), China (4%) and Thailand (4%).