Overview of Malaysia...
Malaysia is a relatively open state-oriented and newly industrialised market economy. The state plays a significant but declining role in guiding economic activity through macroeconomic plans. Malaysia has had one of the best economic records in Asia, with GDP growing an average 6.5 per cent annually from 1957 to 2005. In 2010 the GDP per capita (PPP) was $414.400; billion, the 3rd largest economy in ASEA and 29th largest economy in the world. Since the 1980s the industrial sector has led Malaysia's growth. High levels of investment played a significant role in this. The Malaysian economy recovered from the 1997 Asian Financial Crisis sooner than neighbouring countries, and has since recovered to the levels of the pre-crisis era with a GDP per capita of $14,800. International trade, facilitated by the adjacent Strait of Malacca shipping route, and manufacturing are key sectors of the country's economy. Manufacturing has a large influence in the country's economy, although Malaysia's economic structure has been moving away from it. In an effort to diversify the economy and make Malaysia's economy less dependent on exported goods, the government has pushed to increase tourism in Malaysia. As a result, tourism has become Malaysia's third largest source of income from foreign exchange, although it is threatened by the negative effects of the growing industrial economy, with large amounts of air and water pollution along with deforestation affecting tourism. The country has developed into a centre of Islamic banking, and is the country with the highest numbers of female workers in that industry. Knowledge-based services are also expanding.
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| Facts About Malaysia |
| Location: |
Southeastern Asia |
| Coordinates: |
2 30 N, 112 30 E |
| Int. Dialing Code: |
00 60 |
| Currency: |
ringgits (MYR) |
| Language: |
Bahasa Malaysia (official) |
| Area: |
329,847 sq km |
| Capital City: |
Kuala Lumpur |
| Population: |
28,728,607 (July 2011 est.) |
| Population Ranking: |
43 |
| Employment: |
96.5% |
| Inflation: |
1.7% (2010 est.) |
| GDP: |
$414.4 billion (2010 est.) |
| GDP Ranking: |
30 |
| GDP Growth: |
7.2% (2010 est.) |
| Internet Users: |
15.355 million (2009) |
| Television Stations: |
4 |
| Phone Lines: |
4.312 million (2009) |
| Mobile Phones: |
30.379 million (2009) |
| Major Industry: |
Peninsular Malaysia - rubber and oil palm processing and manufacturing, light manufacturing, pharmaceuticals, medical technology, electronics, tin mining and smelting, logging, timber processing; Sabah - logging, petroleum production; Sarawak - agriculture processing, petroleum production and refining, logging |
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