Economic overview: The Malaysian economy, a mixture of private enterprise and public management, has posted a remarkable record of 9% average annual growth in 1988-95. The official growth target for 1996 is 8.3%. This growth has resulted in a substantial reduction in poverty and a marked rise in real wages. Manufactured goods exports expanded rapidly, and foreign investors continued to commit large sums in the economy. The government is aware of the inflationary potential of this rapid development and is closely monitoring fiscal and monetary policies.
GDP: purchasing power parity - $193.6 billion (1995 est.)
GDP real growth rate: 9.5% (1995)
GDP per capita: $9,800 (1995 est.)
GDP composition by sector: agriculture: 8% industry: 25% services: 67%
Inflation rate (consumer prices): 5.3% (1995)
Labor force: 7.627 million (1993)
Unemployment rate: 2.8% (1995 est.)
Budget:
revenues: $20.2 billion
expenditures: $19.9 billion, including capital expenditures of $4.8
billion (1995 est.)
Industries:
Peninsular Malaysia: rubber and oil palm processing and
manufacturing, light manufacturing industry, electronics, tin mining
and smelting, logging and processing timber
Sabah: logging, petroleum production
Sarawak: agriculture processing, petroleum production and refining,
logging