Economy of Malaysia

Malaysia is a growing and relatively open state-oriented market economy.[71] The state plays a significant but declining role in guiding economic activity through macroeconomic plans. In 2007, the economy of Malaysia was the 3rd largest economy in South East Asia and 29th largest economy in the world by purchasing power parity with gross domestic product for 2007 estimated to be $357.9 billion with a growth rate of 5% to 7% since 2007[72] In 2008, GDP per capita (PPP) of Malaysia stands at US$14,215, ranking it 48th in the world, and 3rd in Southeast Asia (after Singapore and Brunei). In 2009, the nominal GDP was US$207,400 billion, and the nominal per capital GDP was US$8,100.

The Southeast Asian nation experienced an economic boom and underwent rapid development during the late 20th century and has a GDP per capita of $14,800, being considered a newly industrialized country.[73][74] On the income distribution, there are 5.8 million households in 2007. Of that, 8.6% have an monthly income below RM1,000, 29.4% had between RM1,000 and RM2,000, while 19.8% earned between RM2,001 and RM3,000; 12.9% of the households earned between RM3,001 and RM4,000 and 8.6% between RM4,001 and RM5,000. Finally, around 15.8% of the households have an income of between RM5,001 and RM10,000 and 4.9% have an income of RM10,000 and above.[75]

Southeast Asia has been a centre of trade for centuries. International trade, facilitated by the adjacent Strait of Malacca shipping route,[76] and manufacturing [77] are both key sectors of the country's economy. As one of three countries that control the Strait of Malacca, international trade plays a large role in its economy.[78] At one time, it was the largest producer of tin, rubber and palm oil in the world.[79] Manufacturing has a large influence in the country's economy

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