Essay On Malaysia Economy

INTRODUCTION

Malaysia is a federal constitutional monarchy situated in the south East Asia. Malaysia is an open state oriented and newly industrialised economy. Malaysia is one of the top economies of Asia with GDP growing 6.5 % annually. The GDP was $555 bn in 2014.The electronics equipment, petroleum and liquefied petroleum gas will see a substantial increase in the income per capita.On the supply side the growth is said to be supported by expansion in all economic sectors in tandem with the demand in the domestic market, the services and manufacturing sector is said to grow very rapidly. A strong domestic consumption is said to boost growth in services sector especially in wholesale and retail, infrastructure, tourism, accommodation and

It has been predicted that by 2050 Malaysia will be a developed the country. The following steps are taken to analyse the economy of Malaysia at a macroeconomic level

The Malaysian economy remained resilient despite facing a harsh external environment. With advance economies like US and japan showed signs of recovery new challenges emerged in the earlier stages of 2013.Emerging economies were particularly affected over whether china economic strength were able to support inter regional trade and commodity prices

Malaysia being an open economy was also affected with gross exports recording a negative growth of 3.8% during the first half of 2013.But the strong domestic demand was able to cushion the negative impact from the external sector. The economy made a 4.2% increase in the real GDP during the period. But during the course of time with moderate recovery of the china economy it gave a positive outlook to the Malaysians exports. This lead to increase in the GDP of Malaysia to 5% in 2013 supported by the domestic economy and the improving exports in the second half of 2013.

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