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One of the most significant events in the history of the Malaysian economy was the Asian financial crisis, which caused Malaysia's GDP to shrink from US$100.8 billion in 1996 to US$72.2 billion in 1998. The Malaysian economy's GDP did not recover to 1996 levels until 2003. [17] The year 1997 saw drastic changes in Malaysia.
The nominal U.S. dollar GDP of ASEAN fell by $9.2 billion in 1997 and $218.2 billion (31.7%) in 1998. In South Korea, the $170.9 billion fall in 1998 was equal to 33.1% of the 1997 GDP. [82] Many businesses collapsed, and as a consequence, millions of people fell below the poverty line in 1997–1998.
1 January – Visit Terengganu Year 1997 officially began. 1 January – Compulsory self-service at petrol stations in Klang Valley came into operation for the first time. 3 January – The Proton Putra, Malaysia's first coupé car was launched. 10 January – Universiti Teknologi Petronas (UTP) was established.
According to a HSBC report in 2012, Malaysia is expected to become the world's 21st largest economy by 2050, with a GDP of $1.2 trillion (Year 2000 dollars) and a GDP per capita of $29,247 (Year 2000 dollars). The report also says "The electronic equipment, petroleum, and liquefied natural gas producer will see a substantial increase in income ...
The Tiger Cub Economies are so named because they attempt to follow the same export-driven model of technology and economic development already achieved by the rich, high-tech, industrialized, and developed countries of South Korea, Singapore, and Taiwan, along with the wealthy financial center of Hong Kong, which are all collectively referred to as the Four Asian Tigers.
This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. Figures are based on official exchange rates, not on the purchasing power parity (PPP) methodology. Values are given in millions of United States dollars (USD) and have not been adjusted for inflation.
The total cost of the damage caused by the haze to Malaysia was estimated to be RM802 million or US$321 million, for the period between August and October 1997. The damage caused by the haze affected the GDP by an estimated 0.30 per cent. [2] The haze even affected the output of gas turbines at the Kuala Langat Power Plant (KLPP), Malaysia.
This is an alphabetical list of countries by past and projected Gross Domestic Product, based on the Purchasing Power Parity (PPP) methodology, not on market exchange rates. These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, October 2024 Edition. [ 1 ]