Countries
Malaysia
Key Economic Indicators
$1.38 trillion
$38,779
5.11%
1.83%
3.76%
$421.972 billion (2024 est.)
64 % of GDP
$7.15 billion
Economic Overview
upper middle-income Southeast Asian economy; implementing key anticorruption policies; major electronics, oil, and chemicals exporter; trade sector employs over 40% of jobs; key economic equity initiative; high labor productivity
All Economic Data
Agricultural products
oil palm fruit, rice, chicken, eggs, tropical fruits, coconuts, vegetables, pineapples, rubber, bananas (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
1.6% of household expenditures (2023 est.)
On food:
26.4% of household expenditures (2023 est.)
Budget
Expenditures:
$89.046 billion (2023 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$69.055 billion (2023 est.)
Currency
code:
MYR
name:
Malaysian ringgit (MYR) [RM]
Current account balance
$7.15 billion
Current account balance 2022:
$12.738 billion (2022 est.)
Current account balance 2023:
$6.257 billion (2023 est.)
Current account balance 2024:
$7.15 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
ringgits (MYR) per US dollar -
Exchange rates 2020:
4.203 (2020 est.)
Exchange rates 2021:
4.143 (2021 est.)
Exchange rates 2022:
4.401 (2022 est.)
Exchange rates 2023:
4.561 (2023 est.)
Exchange rates 2024:
4.576 (2024 est.)
Exports
$301.22 billion
Exports 2022:
$312.88 billion (2022 est.)
Exports 2023:
$274.1 billion (2023 est.)
Exports 2024:
$301.789 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
integrated circuits, refined petroleum, crude petroleum, natural gas, palm oil (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
China 21%, Singapore 12%, USA 12%, Japan 5%, Hong Kong 5% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$15.59 billion
GDP - composition, by end use
Exports of goods and services:
71.4% (2024 est.)
Government consumption:
12% (2024 est.)
Household consumption:
60.8% (2024 est.)
Imports of goods and services:
-66% (2024 est.)
Investment in fixed capital:
20.6% (2024 est.)
Investment in inventories:
1.3% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
8.2% (2024 est.)
Industry:
37.1% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
53.6% (2024 est.)
GDP (official exchange rate)
$421.972 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$11,874
Gini Index coefficient - distribution of family income
41.1 (2015)
Gini Index coefficient - distribution of family income 2021:
40.7 (2021 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$407.78 billion
GNI per capita
$11,650
Gross domestic investment
22 % of GDP
Household income or consumption by percentage share
Highest 10%:
30.9% (2021 est.)
Lowest 10%:
2.3% (2021 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$278.76 billion
Imports 2022:
$283.758 billion (2022 est.)
Imports 2023:
$253.665 billion (2023 est.)
Imports 2024:
$279.09 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
integrated circuits, refined petroleum, crude petroleum, coal, broadcasting equipment (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 24%, Singapore 11%, USA 7%, Japan 5%, Taiwan 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
4.9% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
Peninsular Malaysia - rubber and oil palm processing and manufacturing, petroleum and natural gas, light manufacturing, pharmaceuticals, medical technology, electronics and semiconductors, timber processing; Sabah - logging, petroleum and natural gas production; Sarawak - agriculture processing, petroleum and natural gas production, logging
Inflation rate (consumer prices)
1.83%
Inflation rate (consumer prices) 2022:
3.4% (2022 est.)
Inflation rate (consumer prices) 2023:
2.5% (2023 est.)
Inflation rate (consumer prices) 2024:
1.8% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
18.264 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
18.72 million persons
Labor force - by occupation
agriculture:
9.18%
industry:
25.96%
services:
64.86%
Population below poverty line
6.2% (2021 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
64 % of GDP
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2023:
64.3% of GDP (2023 est.)
Real GDP (purchasing power parity)
$1.38 trillion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$1.113 trillion (2022 est.)
Real GDP (purchasing power parity) 2023:
$1.153 trillion (2023 est.)
Real GDP (purchasing power parity) 2024:
$1.212 trillion (2024 est.)
Real GDP growth rate
5.11%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
8.9% (2022 est.)
Real GDP growth rate 2023:
3.6% (2023 est.)
Real GDP growth rate 2024:
5.1% (2024 est.)
Real GDP per capita
$38,779
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$32,100 (2022 est.)
Real GDP per capita 2023:
$32,800 (2023 est.)
Real GDP per capita 2024:
$34,100 (2024 est.)
Remittances
$1.61 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0.4% of GDP (2022 est.)
Remittances 2023:
0.4% of GDP (2023 est.)
Remittances 2024:
0.4% of GDP (2024 est.)
Reserves of foreign exchange and gold
$116.23 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$114.659 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$113.463 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$116.229 billion (2024 est.)
Revenue (excl grants)
17 % of GDP
Tax revenue
13 % of GDP
Taxes and other revenues
12.6% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
3.76%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
4% (2022 est.)
Unemployment rate 2023:
3.9% (2023 est.)
Unemployment rate 2024:
3.9% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
13.8% (2024 est.)
Male:
11.3% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
12.3% (2024 est.)
World Bank Indicators
Currency
Malaysian ringgit (MYR) RM (2025)
Gini Index
41.10 (2015)
Languages
English, Malay (2025)
Economic Rankings
Reserves
#24
GDP Growth Rate
#28
GDP (PPP)
#29
Imports
#30
Exports
#30
GDP (Nominal)
#37
GDP per Capita
#57
Gini Index
#59
Unemployment Rate
#125
Inflation Rate
#181
Quick Facts
Industries
Peninsular Malaysia - rubber and oil palm processing and manufacturing, petroleum and natural gas, light manufacturing, pharmaceuticals, medical technology, electronics and semiconductors, timber proc
Agricultural products
oil palm fruit, rice, chicken, eggs, tropical fruits, coconuts, vegetables, pineapples, rubber, bananas (2023)
Labor force
18.264 million (2024 est.)
Exports - partners
China 21%, Singapore 12%, USA 12%, Japan 5%, Hong Kong 5% (2023)
Imports - partners
China 24%, Singapore 11%, USA 7%, Japan 5%, Taiwan 5% (2023)
Exchange rates
ringgits (MYR) per US dollar -
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