Malaysia Vacation

Economy of Malaysia

Malaysia is a growing and relatively open economy. In 2007, the economy of Malaysia was the 29th largest economy in the world by purchasing power parity with gross domestic product for 2007 was estimated to be $357.9 billion with a growth rate of 5% to 7% since 2007^[1] The Southeast Asian nation experienced an economic boom and underwent rapid development during the late 20th century. With a GDP per capita standing at US$14,400, it has, from time to time, been considered a newly industrialized country.^[2][3] 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.