Asia Development Member Fact Sheet: Malaysia 2021 Updated ; ADB Fact Sheets

In: http://hdl.handle.net/11540/13969

Abstract

Rapid growth since independence has enabled Malaysia to become an upper middle-income country. It boasts a gross national income per capita of close to $11,000, with the share of households living below the national poverty line at less than 1%. From an economy dominated by the international trade of raw natural resources, Malaysia has diversified its exports to include electrical appliances, electronic parts and components, palm oil, and natural gas. More recent efforts have focused on improving competitiveness. The country ranked 27th in the Global Competitiveness Index for 2019. In the same report for 2020, Malaysia was among the top 10 advanced countries on digital transformation.