MALAYSIA

 

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Malaysia, a middle-income country, has transformed itself from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth.

Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In September 2013, NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favour and advance the economic condition of ethnic Malays.

Malaysia assumed the Chairmanship of ASEAN in January 2015. As a result, India-ASEAN Summit as well as East Asia Summit meeting will be held in Malaysia in 2015
.
 

 

 

At a Glance:

 

 

Country Name

 

 

Malaysia

 

 

Area

 

 

330,434 sq.km

 

 

Capital

 

 

Kuala Lumpur

 

 

Government type

 

 

Constitutional monarchy and parliamentary democracy

 

Administrative divisions

 

 

13 states ( negeri-negeri, singular- negeri) Johor, Kedah, Kelantan, Melaka, Negeri Sembilan, Pahang, Perak, Perlis, Pulau Pinang, Sabah, Sarawak, Selangor, Terengganu; and 1 federal territory ( Wilayah Persekutuan) with three components, city of Kuala Lumpur, Labuan and Putrajaya.

 

 

National Holidays

 

 

Independence Day 31 August; Malaysia Day 16 September

 

 

Fiscal year

 

 

Calendar Year

 

 

Currency

 

 

Ringgit (MYR)

 

 

King

 

 

Tuanku ABDUL HALIM Mu’adzam Shah (since 13 December 2011)

 

 

Prime Minister

 

 

Mohamed NAJIB bin Abdul Razak (since 3 April 2009)

 

 

Population

 

 

30,513,848 (July 2015 est.)

 

 

Net migration rate

 

 

-0.33 migrant(s)/1,000 population

 

 

GDP (purchasing power parity)

 

 

$746.1 billion (2014 est.)

 

 

GDP- composition by sector

 

 

agriculture: 9.3%

industry: 34.7%

services: 56% (2014 est.)

 

 

Agriculture- Products

 

 

Peninsular Malaysia - palm oil, rubber, cocoa, rice; Sabah - palm oil, subsistence crops; rubber, timber; Sarawak - palm oil, rubber, timber, pepper

 

 

Industries

 

 

Peninsular Malaysia-rubber and oil palm processing and manufacturing, light manufacturing, pharmaceuticals, medical technology, electronics, tin mining and smelting, logging, timber processing; Sabah- logging, petroleum production; Sarawak-  agriculture processing,  petroleum production and  refining, logging.

 

 

Major Exports

 

 

Semiconductors and electronic equipment, palm oil, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals, solar panels

 

 

Major Exports- Partners

 

 

China 14.2%, Singapore 13.9%, Japan 10.9%, US 8.2%, Thailand 5.4%, Indonesia 4.5%, Hong Kong 4.2% (2013)

 

 

Major Exports- Partners

 

 

Electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals.

 

 

Major Import- Partners

 

 

China 17%, Singapore 13.2%, Japan 8.5%, US 7.6%, Thailand 5.9%, South Korea 4.6%, Indonesia 4.3% (2013)

 

 

Natural resources

 

 

Tin, petroleum, timber, copper, iron ore, natural gas,  bauxite

 

 

 

Languages

 

 

Bahasa Malaysia (Official), English, Chinese  Cantonese, Mandarin, Hokkien, Hakka, Hainan, (Foochow), Tamil, Telegu, Malayalam, Punjabi, Thai

 

note: in East Malaysia there are several indigenous

 languages; most  widely spoken are Iban and Kadazan

 

 

Ethnic groups

 

 

Malay 50.1%, Chinese 22.6%, indigenous 11.8%, Indian 6.7%, other 0.7%, non-citizens 8.2% (2010 est.)

 

 

Climate

 

 

Tropical; annual southwest (April to October) and northeast (October to February) monsoons

 

 

Location

 

 

Southeastern Asia, peninsula bordering Thailand and northern one- third of the island of Borneo, bordering’  Indonesia, Brunei and the South China Sea, south of Vietnam