How much does Malaysia’s economy rely on external trade?
The trade-to-GDP ratio is frequently used to measure the importance of international transactions relative to domestic transactions. This indicator is calculated for each country as the simple average (i.e., the mean) of total trade (i.e., the sum of exports and imports of goods and services) relative to GDP. This ratio is often called the trade openness ratio.
Trade openness level of Malaysia
Malaysia, along with most ASEAN economies, relies a lot on international transactions relative to its domestic ones. Malaysia’s trade openness degree is the 3rd highest in ASEAN, behind Singapore and Vietnam. Principal trading partners for Malaysia include Singapore, China, Japan, the US, and Thailand.
What is the size of Malaysia’s economy? See Chart
What is the size of Malaysia’s population? See Chart
What is the demographic structure of Malaysia? See Chart
How has the structure of Malaysia’s GDP changed over the years? See Chart
How much does Malaysia’s economy rely on its natural resources? See Chart
What are the key economic regions in Malaysia? See Chart
Economic Freedom Index: How free is Malaysia’s economy? See Chart