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2025/03/17 13:52:56

Economy of Malaysia

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Content

The main articles are:

GDP

2022

Malaysia's share of global PPP GDP reaches 0.67%

Main article: World Economy

Source: Spydell Finance

GDP size forecast - $0.44 trillion

Countries by GDP size in 2022, according to the IMF midyear forecast

2021: GDP size - $0.37 trillion

GDP countries in the world in 2021 according to the estimates of the International Monetary Fund (IMF)

Financial system

Sovereign Wealth Fund

As of 2022

Non-financial debt

2022: Aggregate non-financial debt

Source: Spydell Finance, November 2022
Comparison of the 1 quarter of 2022 and the second quarter of 2008
Non-financial debt from September 2004 to March 2022

National debt

2023: State debt - 66% of GDP

Data for September 2023

Inflation

2024:2% in May

SEZ

Johor-Singapore Special Economic Zone

In January 2025, Malaysia introduced a number of tax breaks to attract investors to a special economic zone with Singapore, which by 2030 should bring the Malaysian economy $26 billion a year.

The package of measures came a day after Singapore and Malaysian leaders officially opened a zone linking border regions. The Johor-Singapore Special Economic Zone is nearly twice the size of China's Shenzhen - a city bordering Hong Kong whose success Malaysia hopes to replicate with the SEZ.

Minerals

2022

Second place in the world in the processing of rare earth metals

LNG exports

Export and import of liquefied natural gas in 2022

2021: Oil Production

Oil production in thousands of barrels per day by country in 2021

Power

2020: Average energy consumption per capita

and
Energy consumption per capita, including electricity, transport heating in 2019-2020

Agriculture

2019: Average use of pesticides in agriculture

As of 2019

Food industry

Palm oil

2022: Malaysia produces 25% of palm oil from global volume

Main article: Palm oil (global market)

The largest suppliers of vegetable oil in the world, season 2021-2022

2019

Leading countries in palm oil production in 2019

Foreign trade

2023: Trade turnover with Russia reaches $3.11 billion in a year

In September 2024, it became known that the trade turnover between Russia and Malaysia in 2023 increased to $3.11 billion, despite the difficult global economic situation. Bilateral trade has seen steady growth, underscoring the importance of trade ties between the two countries, according to the trade department of the Malaysian Embassy in Moscow.

According to Prime, at the end of 2023, Malaysia's exports to Russia increased by 13% and amounted to $619.3 million, while Russian exports to Malaysia increased by 10.8%, reaching $2.49 billion. The main goods supplied by Malaysia to Russia remain industrial products, which confirms a steady interest in high-tech and industrial products of Malaysian production. In turn, Russian supplies to Malaysia include traditional items such as petroleum products, chemical products and other manufactured goods.

Kuala Lumpur, Malaysia

According to Malaysian trade attaché Haifil Elmi Jamil, despite the positive growth dynamics, both countries still have the potential to further increase the volume of trade. The President, at Russia Vladimir Putin a meeting with Malaysian Prime Minister Anwar Ibrahim, expressed hope for deepening trade partnership between the countries. Putin noted that the volume of trade in $3.5 billion does not correspond to the opportunities that Russia and Malaysia have, and stressed the need to further develop cooperation.

During the conversation, Anwar Ibrahim confirmed Malaysia's readiness to expand interaction with Russia, especially in light of the upcoming Malaysian presidency of the Association of Southeast Asian Nations (ASEAN) in 2025. He expressed hope for Russia's active participation in the organization's activities and stressed the importance of further deepening economic ties.[1]

2022

China is the largest export destination

According to data available for August 2023.

Among the leaders in LNG exports

Dynamics of liquefied natural gas exports by leading countries

2021

China's seventh largest trading partner

The fifth exporter of liquefied natural gas in the world

Main Article: Liquefied Natural Gas (LNG)

The largest exporters of liquefied natural gas (LNG) in 2021

R&D

2020: R&D spending - $9.7 billion

R&D expenses as of 2020

Unemployment

2020: Unemployment rate - 4.9%

Countries around the world in terms of unemployment in 2020

Incomes of the population

2023: Minimum wage - $289

Minimum wage in countries of the world for January 2023

Consumption

2023: Fish consumption is higher than meat consumption

The most consumed type of meat (including fish and seafood) according to data available for June 2023.

2019: Poultry meat is the most consumed type of meat

Data for 2019

See also