Enterprising Malaysia Economy
As far as the readers are concerned, it would be just enough to say that Malaysia is one of the better developed nations in Southern Asia.
This country is currently ranked 29th in the world in terms of economic status and this is something terrific when you take into consideration of the economic status of other countries nearby Malaysia.
The most defining period in the Economy of Malaysia would be the late twentieth century when this country took an exponential curve in terms of economic growth. There are many reasons for this country to achieve great heights during this particular period and all of them are mentioned in this article.
The late twentieth century witnessed Malaysia economy reaching greater heights mainly because of its agriculture products and exports. During this period, Malaysia was the largest exporter of products like tin, rubber and palm oil which completely changed the face of Malaysia.
In addition to this, the macro-economic trend of Malaysia economy did play a large role in improving Malaysia’s financial position.
The year 1995 witnessed a GDP per capita income of about 15.69% which was far better than most of the nations during this time. But this trend did not last long as the continent of Asia had a financial crisis and Malaysia was struck very badly. Surprisingly, Malaysia economy bounced back in just two years and they were at their alarming best in the coming years.
The Current Position:
The newly industrialized nation is steadily improving its economy and it is expected that it will topple many of other leading nations in Asia like India, Singapore etc. The economy of Malaysia is balanced and steady in the sense that contributions from various sectors like agriculture, industry and services are more of less similar to each other. (Agriculture has a contribution of about ten percent, industry-forty two percent and services-forty eight percent).