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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])
In addition, the Malaysian economy contracted 5.6% for all of 2020, its worst performance since the 1998 Asian Financial Crisis. [ 6 ] The travel, hospitality and entertainment sectors were particularly hit hard by the COVID-19 pandemic but the ecommerce, technology and healthcare sectors thrived despite facing supply chain disruptions.
Malaysia's full-year economic performance fell 5.6% in 2020, the worst annual performance since the 7.4% decline in 1998 during the Asian Financial Crisis, according to data from the department of ...
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.
This is a list of Malaysian states, federal territories and municipalities sorted by their export value. As of 30 October 2021, 1 Malaysian ringgit (symbol: RM, currency code: MYR) is equivalent to 0.24 US dollar [1] or 0.21 Euros. [2]
This list is based on the Forbes Global 2000, which ranks the world's 2,000 largest publicly traded companies. The Forbes list takes into account a multitude of factors, including the revenue, net profit, total assets and market value of each company; each factor is given a weighted rank in terms of importance when considering the overall ranking.
The New Economic Policy in Malaysia presented strategies meant to address economic growth. [12] As a result, the poverty rate fell from 52.4% in 1970 to 3.8% in 2009. [12] Malaysia seeks to address poverty at the micro-level and has produced a New Economic Model and framework in the Tenth Malaysia and Eleventh Malaysia Plans to address this ...