With an estimated 28.33 million inhabitants Malaysia is the world’s 42d-most-populous country and was ranked as the 29th largest economy in the world in 2013.
Since independence, Malaysia has had one of the best economic records in Asia, with GDP growing an average 6.5% for almost 50 years.
The economy has traditionally been fueled by its natural resources, but is expanding in the sectors of science, tourism, commerce and medical tourism. Malaysia industrial sector accounts for 48.1 percent of total GDP.
Agriculture: The main categories are in % of total exports Mineral Fuels & Oil (16%), Palm Oil and Coconut Oil (8%), Rubber (4%), Wood (2.5%)
Industry: The main categories are in % of total exports Electric & Electronic Equipment (28%), , Computer hardware (15%), Chemical products (3.5%), Plastic Products (3.2%), Optical & Medical Equipment (3.1%), Iron & Steel Products (2.5%), Furniture (1.5%)
Main export partners are Singapore (13.6%), China (12.6%), Japan (11.8%), United States (8.7%), Thailand (5.4%), Hong Kong (4.3%), India (4.2%) and Australia (4.1%).
The government is moving towards a more business friendly environment, such as easing restrictions and requirement to hire expatriates, shorten time to do land transfers. As a results in 2013, Malaysia ranks 12th in the world for ease of doing business, and. It has been ranked in 2014 world’s top location for manufacturing in the Cushman & Wakefield index.
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