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Malaysia

  • Ease of doing business

    12th

    out of 190 countires (World Bank, 2019)

  • Currency

    Ringgit (RM)

  • Business Language

    English

  • GDP per Capita

    $11,414

    UK is $41,030 (IMF, 2019)

  • Economic Growth

    4.3%

    (IMF, 2018)

  • Time Zone

    GMT +8

Malaysia
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Economic and population growth

Since gaining independence in 1957, Malaysia has successfully diversified its economy from one that was initially agriculture and commodity-based, to one that now plays host to robust manufacturing and service sectors, which have propelled the country to become a leading exporter of electrical appliances, electronic parts and components.

Malaysia is one of the most open economies in the world with a trade to GDP ratio averaging over 130% since 2010. Openness to trade and investment has been instrumental in employment creation and income growth, with about 40% of jobs in Malaysia linked to export activities. After the Asian financial crisis of 1997-1998, Malaysia’s economy has been on an upward trajectory, averaging growth of 5.4% since 2010, and is expected to achieve its transition from an upper middle-income economy to a high-income economy by 2024.