2. Malaysia
Malaysia is a Southeast Asian country occupying
parts of the Malay Peninsula and the island of
Borneo
It's known for its beaches, rainforest and mix of
Malay, Chinese, Indian and European cultural
influences
3. Economic Growth Rate of Malaysia
There are rapid anual economic growth in 2022 shown in Malaysian
economy, at a pace of 8.7 % year on year compared to 3.1 percent in the
previous year which is the highest annual growth recorded within the
period of 22 years. Malaysia's economic growth rate is projected to
expand 4.0 percent in 2023. This follows a stronger-than-expected
recovery of 7.8 percent last year.
4. Income Distribution
Malaysia, an upper middle-income country, has transformed itself since
the 1970s from a producer of raw materials into a multi-sector economy.
Under current Prime Minister NAJIB, Malaysia is attempting
to achieve high-income status by 2020 and to move further up the value-
added production chain by attracting investments in high technology,
knowledge-based industries and services.
5. Gross National Product
Malaysia's GNP in year 2017 was 805.9 billion PPP dollars. The growth rate increased to
4.53%, it rises to 862.5 billion PPP dollars in year 2018, it rises from this to 921.4 billion PPP
dollars the growth rate increase to 7.07% in year 2019, due to some factors Malaysia's GNP
decreased from 921.4 billion PPP dollars to 886.4 billionPPP dollars the growth rate decline
to 4.73% and in year 2021 Malaysia's GNP increased to 945.2 billion PPP dollars 5.01 %
increased from 2020
GNI (formerly GNP) is the sum of value added by all resident producers plus any product
taxes (less subsidies) not included in the valuation of output plus net receiptsof primary
income (compensationof employees and property income) from abroad. Data are in current
U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at
official exchange rates for comparisons across economies, although an alternative rate is
used when the official exchange rate is judged to diverge by an exceptionally large margin
from the rate actually applied in international transactions.
6.
7. Gross Domestic Product
Annual percentage growth rate of GDP at market prices based on constant local
currency. GDP is the sum of gross value added by all resident producers
in the economy plus any product taxes and minus any subsidies not included in the
value of the products. It is calculated without making deductions for depreciation of
fabricated assets or for
depletion and degradation of natural resources.
Malaysia's GDP in year 2017 was 319.1 USD. The growth rate decline to 4.84%
when GDP increased to 358.8 USD in year 2018. In year 2019 the GDP of Malyasia
was 365.2 billion USD the growth rate decline to 4.41%. In year 2020 Malaysia's
GDP was337.34 USD the growth rate decline to -5.53%. From -5.53% the growth
rate increased to 3.09% and the GDP was 372.98 billion USD in year 2021.
10. Malaysia's population increase from 8.16 million to 33.57 million
people from 1960 to 2021The current population of Malaysia in
2023 is 34,308,525, a 1.09% increase from 2022.The population of
Malaysia in 2022 was 33,938,221, a 1.09% increase from 2021.The
population of Malaysia in 2021 was 33,573,874, a 1.13% increase
from 2020.The population of Malaysia in 2020 was 33,199,993, a
1.21% increase from 2019.
Population Growth Rate
11.
12. The impact of pandemic have been severe in Malaysia's economy. The economic
growth has been affected by COVID-19 Malaysian economy contracted 17.1
percent om year-on-yearin 2020. The mandated closure of businesses and
services and movement restrictions has devastated consumption and investment
and created wide ranging impact on both demand and supply. Country's GDP and
GNP growth rate decline during the outbreak of the pandemic, Malaysian labour
market and Malaysian workers are affected. The unemployment rate increased
and a lot of workers lost their job during the break.
Economic Situation during the
pandemic outbreak
13. Group Analyzation
Malaysia is a country that has an upper middle-income and
has a rapid annual economic growth. It is a country that is
populated by millions of people and the population growth
rate increases annually. Country's GNP and GDP decline
during pandemic outbreak and has severe effect in it's
economy, but despite of this, their economy recovered and it
is better-than-expected.
