Economic Economy In Malaysia
One of the most vibrant economies in south-east Asia, Malaysia is one of the worlds top exporters of semiconductors and electronic equipment, palm oil, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals, solar panels. Since they are at the bottom of the equator, Malaysia produces a lot of agricultural products from palm oil, rubber, cocoa, rice, subsistence crops, timber, and pepper. Malaysia is divided into three lands by sea: Peninsular Malaysia, Sarawak, and Sabah. These three lands which are divided by sea have different kinds of resource. Malaysia is also one of the booming economies in the 20th and 21st century. They exponentially grew in agriculture, tourism, etc.
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Since they are at the bottom of the equator, Malaysia produces a lot of agricultural products from palm oil, rubber, cocoa, rice, subsistence crops, timber, and pepper. Despite that Malaysias economy was driven before mostly by the agricultural and export sectors, through the years, it had become one of the most vibrant economies in South-East Asia. This started when the tin market collapsed during the early 1980s, the Malaysian government was forced to diversify and modernize the economy. Since then, the government has played an active role in industrialization and economic development. This continues as of the present and now that Malaysia has a developing economy which, in recent years, has successfully transformed from an exporter of raw materials into a diversified …show more content…
Because of its large size and sustained high growth in recent years, the services sector is expected to play a bigger role in generating income and employment as well as in leading economic growth ahead. In line with the pro-active measures to strengthen the services sector and also with the increasing domestic demand, the contribution of the services industry to the Malaysian economy will further increase, consistent with the developments seen in the services industry in the major developed economies such as the US, Europe and Japan. Also, with the consistent emphasis to develop a broader range of services - including Islamic banking and finance, ICT and shared services and outsourcing - the services sector will be further diversified and developed into a more vibrant
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