Flag description: 14 equal horizontal stripes of red (top) alternating with white (bottom); there is a blue rectangle in the upper hoist-side corner bearing a yellow crescent and a yellow fourteen-pointed star; the crescent and the star are traditional symbols of Islam; the design was based on the flag of the US
Malaysia Economy
Economy - overview: GDP grew at 8.6% in 2000, mainly on the strength of double-digit export growth and continued government fiscal stimulus. As an oil exporter, Malaysia also benefited from higher petroleum prices. Higher export revenues allowed the country to register a current account surplus, but foreign exchange reserves have been declining - from a peak of $34.5 billion in April 2000 to $29.7 billion by December - as foreign investors pulled money out of the country. Despite this development, Kuala Lumpur is unlikely to abandon its currency peg soon. An economic slowdown in key Western markets, especially the United States, and lower world demand for electronics products will slow GDP growth to 3%-6% in 2001, according to private forecasters. Over the longer term, Malaysia's failure to make substantial progress on key reforms of the corporate and financial sectors clouds prospects for sustained growth and the return of critical foreign investment.
GDP: purchasing power parity - $223.7 billion (2000 est.)
GDP - real growth rate: 8.6% (2000 est.)
GDP - per capita: purchasing power parity - $10,300 (2000 est.)
GDP - composition by sector: agriculture: 14%
industry: 44%
services: 42% (2000)
Population below poverty line: 6.8% (1997 est.)