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Malaysia is forecasted to have a nominal GDP of nearly half a trillion US$ by the end of 2024. [25] The labour productivity of Malaysian workers is the third highest in ASEAN and significantly higher than Indonesia, Vietnam, and the Philippines. [26] Malaysia excels above similar income group peers in terms of business competitiveness and ...
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$72.2 billion in 1998. The Malaysian economy's GDP did not recover to 1996 levels until 2003. [17] The year 1997 saw drastic changes in Malaysia.
The following table is the list of the GDP of Malaysian states released by the Department of Statistics Malaysia. [7] [8]Data for 2023 estimates (US$ 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])
The New Economic Policy (NEP) (Malay: Dasar Ekonomi Baru (DEB)) was a social re-engineering and affirmative action program formulated by the National Operations Council (NOC) in the aftermath of the 13 May Incident in Malaysia.
Launched on 21 September 2010, [1] it is a comprehensive economic transformation plan to propel Malaysia's economy into high income economy. The program will lift Malaysia's gross national income (GNI) to US$523 billion by 2020, and raise per capita income from US$6,700 to at least US$15,000, meeting the World Bank's threshold for high income nation. [2]
The East Coast Economic Region (ECER; Malay: Wilayah Ekonomi Pantai Timur) is an economic development region based on the east coast of Peninsular Malaysia, which covers the states of Kelantan, Terengganu, and Pahang, and the Johorean districts of Mersing and Segamat. [1]
On 2 May 2009, Prime Minister Najib Razak announced the government's plan to develop a new economic model that will speed Malaysia's transition to a high income country. . The plan will emphasise ways to increase the income and productivity of workers by encouraging knowledge industries and increasing investment from overs
www.ekonomi.gov.my The Ministry of Economy ( Malay : Kementerian Ekonomi ) is a ministry of the Government of Malaysia that is responsible for economy planning , statistics and socioeconomy planning .