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The economy of Malaysia is an emerging and developing, upper-middle income, highly industrialised, mixed economy.It ranks the 36th largest in the world in terms of nominal GDP, however, when measured by purchasing power parity, its GDP climbs to the 30th largest.
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])
Nominal GDP IMF 2024 [1]; World rank Country GDP (US$ millions) GDP per capita (nominal) 1 16 Indonesia: 1,475,690 5,509 2 26 Thailand: 548,890 7,557 3 31 Singapore
The COVID-19 pandemic in Malaysia has had a significant impact on the Malaysian economy, leading to the devaluation of the Malaysian ringgit (MYR) and the decline in the country's gross domestic product. The pandemic also adversely affected several key sectors including entertainment, markets, retail, hospitality, and tourism.
Malaysia's annual economic growth slowed to 5.4 percent in the first quarter of 2018, leaving the country's new government with the task of turning around an economy that has decelerated for two ...
The Department of Statistics Malaysia (DOSM; Malay: Jabatan Perangkaan Malaysia) is a government agency in Malaysia that operates under the Ministry of Economy.It is responsible for the collection and interpretation of reliable statistics related to the economy, population, society and environment of Malaysia which the government primarily uses to assess, review and implement national public ...
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
Manufacturing has a large influence in the country's economy, [221] although Malaysia's economic structure has been moving away from it. [222] Malaysia remains one of the world's largest producers of palm oil. [223] Tourism is the third-largest contributor to Malaysia's GDP, after the manufacturing and commodities sectors. [224]