Malaysia has developed its Islamic finance capability and is now a major hub in the Asia Pacific region. Malaysia is known for being a modern country with an open economy and a well developed physical and institutional infrastructure. High levels of foreign and domestic investment have played a significant role as the economy has become increasingly diversified and modernized.
Once heavily dependent on primary products such as rubber and tin, Malaysia today is a country with a multi-sector economy based on services and manufacturing. Malaysia is one of the world's largest exporters of semiconductor devices, electrical goods, and information and communication technology products. Also, oil companies will invest heavily over the next 5-10 years to develop new discoveries in deeper waters.
Key economic indicators and statistics for 2008:
■GDP US$214.7 billion
■GPD per capital US$7,866
■Real GDP growth 6.8 percent
■Inflation 7.2 percent
(Source: Australian Government Department of Foreign Affairs and Trade - Country economic fact sheet)
Area: 329,748 sq. km.
Population (2008): 27.5 million
Natural resources: Petroleum, liquefied natural gas (LNG), tin, minerals.