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The economy of Penang is classified as a high-income economy and is the fifth largest in Malaysia by gross domestic product (GDP). In 2023, Penang contributed 7.6% of Malaysia’s GDP. The state had a GDP per capita of RM72,586 (US$15,918), the third highest in the country after Kuala Lumpur and Labuan , surpassing the World Bank ’s threshold ...
The Ministry of Domestic Trade and Costs of Living (Malay: Kementerian Perdagangan Dalam Negeri dan Kos Sara Hidup), abbreviated KPDN, is a ministry of the Government of Malaysia that is responsible for domestic trade, living costs, co-operatives, consumerism, franchise and others.
The following table is the list of the GDP of Malaysian states released by the Department of Statistics Malaysia. [7] [8]Data for 2023 estimates (US$ 1 = MYR 4.56 at 2023 average market exchange rate, [9] international $ (I$) using 2023 PPP conversion factor from World Bank (I$ 1 = MYR1.43) [10])
As Malaysia exits an era of political turmoil, its fifth prime minister in the last seven years is pushing to transform the country into a tech hub. Malaysia wants to become Asia's Silicon Valley.
The Global price level, as reported by the World Bank, is a way to compare the cost of living between different countries. It's measured using Purchasing Power Parities (PPPs), which help us understand how much money is needed to buy the same things in different places. Price level indexes (PLIs), with the world average set at 100, are ...
Penang [a] is a Malaysian state located on the northwest coast of Peninsular Malaysia along the Strait of Malacca. It has two parts: Penang Island , where the capital city, George Town , is located, and Seberang Perai on the Malay Peninsula .
The Greater Penang Conurbation, also known as the George Town Conurbation, [1] [2] is the urban area within and surrounding the Malaysian state of Penang, including parts of neighbouring Kedah and Perak. It is the second largest conurbation in Malaysia, with a population of over 2.84 million as of 2020.
Visualisation of Numbeo's 2023 cost of living index by country. The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain ...