ECONOMY. Malaysia is a middle-income economic system and has the third highest GDP per capita (US$four,625) among the many Southeast Asian international locations after Singapore and Brunei. The nation was primarily a producer of uncooked supplies however remodeled its economic system from the 1970s to the 1990s right into a multi-sector economic system. Malaysia’s financial progress is export pushed primarily from exports and digital merchandise.
Malaysia’s economic system is comparatively steady with wholesome international trade reserves and a GDP of US$118.three billion in 2004. From 2000 to 2004, Malaysia’s actual GDonline casino Malaysiae of 5.7% whereas inflation remained beneath 2.zero% and unemployment beneath four.zero%. The Asian financial disaster of 1997 adversely affected Malaysia’s economic system through the interval. It’s unlikely that the nation will expertise an financial disaster much like 1997 with present wholesome international trade reserves, low inflation and small international debt.
The manufacturing sector accounted for 48.5% of Malaysia’s GDP in 2004, companies accounted for 42.four% and the agriculture sector accounted for 9.1%. Main industries embody digital & electrical merchandise, textiles, clothes & footwear, chemical compounds, petroleum, wooden and steel merchandise. Main agriculture industries embody palm oil, rubber, cocoa, rice, poultry and timber.
DEMOGRAPHY. Malaysia includes of Peninsular Malaysia and East Malaysia (positioned on the northern half of the island of Borneo) with a inhabitants of 26 million. Malaysia is a multi-ethnic society comprising of the predominant indigenous Malays (50%) adopted by the Chinese language (24%) and Indians (7%). Different indigenous teams (11%) embody the Ibans, Kadazans, Melanaus and Kelabits. Main faith practiced is Islam adopted by Buddhism, Taoism, Hinduism and Christianity. Main languages used are Malay (nationwide language), English (generally utilized in enterprise), Chinese language (primarily Mandarin, Hokkien and Cantonese) and Tamil.
Malaysia’s inhabitants is changing into more and more city. The nation’s city inhabitants elevated from 54.7% to 62.eight% of Malaysia’s whole inhabitants from 1995 to 2004. Essential motive is rising employment alternatives within the main city areas. Main city areas embody the nation’s capital Kuala Lumpur and the encompassing areas (often known as the Klang Valley), Penang, Johor Bahru, Ipoh, Kuantan, Kuching and Kota Kinabalu.
Households within the city areas have a median earnings that’s twice than these within the rural areas. An estimated 5% of Malaysian households stay beneath the poverty degree whereas 50% are low-income households. The proportion of medium earnings households is 33% whereas high-income households are 10%.