Economy of Malaysia
Malaysia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Malaysia may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Malaysia exports around $230.7 billion and imports roughly $192.9 billion. 3.4% of population in the country are unemployed. The total number of unemployed people in Malaysia is 1,089,444. In Malaysia, 0.6% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Malaysia is low, indicating that it has a stable economy. Investors should consider Malaysia to be a safe location for investments and other financial ventures. Government expenditure on education is 4.1% of GDP. The Gini Index of the country is 46.2. Malaysia is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Malaysia has a Human Development Index (HDI) of 0.773. Malaysia has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Malaysia is 1.561. Due to strong law enforcement presence and high social responsibility, Malaysia is very safe by international standards. The strength of legal rights index for Malaysia is 7. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.
The currency of Malaysia is Malaysian ringgit. There are several plural forms of the name 'Malaysian ringgit'. These are ringgit, ringgits. The symbol used for this currency is RM, and it is abbreviated as MYR. The Malaysian ringgit is divided into Sen; there are 100 in one ringgit.
The depth of credit information index for Malaysia is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Malaysia has a credit rating score of A-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Malaysia has a credit rating score of A-, and the prospects of this rating are negative. According to the Moody's credit-rating agency, Malaysia has a credit rating score of A3, and the prospects of this rating are stable.
In Malaysia, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Malaysia. Locally, the central bank of Malaysia is called Bank Negara Malaysia. The average deposit interest rate offered by local banks in Malaysia is 3%.
Malaysia has a government debt of 50% of the country's Gross Domestic Product (GDP), as assessed in 2014.
The corporate tax in Malaysia is set at 25%. Personal income tax ranges from 0% to 26%, depending on your specific situation and income level. VAT in Malaysia is 6%, and it is known as GST.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Malaysia is $769448 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Malaysia was last recorded at $24 million. PPP in Malaysia is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Malaysia is 312,434 billion. Based on this statistic, Malaysia is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Malaysia. The Gross Domestic Product (GDP) per capita in Malaysia was last recorded at $10 million. The average citizen in Malaysia has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Malaysia averaged 5.9% in 2014. According to this percentage, Malaysia is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Malaysia.
Major industries in the country are 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. The total labor force of Malaysia is 15,441,190 people, wherein 3.4% of population in the country are unemployed. The total number of unemployed people in Malaysia is 1,089,444. The Industrial Production growth rate of Malaysia is 8.5%.To read more about industrial information within Malaysia click on industry of Malaysia.
There are 17939 km2 of arable land in Malaysia, and it comprises 5% of the country's total territory. There are 75567 km2 of cultivated land in Malaysia. The country's major agricultural crops and products are rubber, palm oil, cocoa, rice, subsistence crops, coconuts, rice, rubber, timber, rubber, timber, pepper.To read more about agriculture click on agriculture of Malaysia.