What is the size of Malaysia’s economy?
Measuring the size of an economy
The size of any economy is usually measured by calculating its Gross Domestic Product (GDP) which is the market value of all officially recognized final goods and services produced within a country in a given period. To compare GDP internationally, one needs to convert the value in local currencies to one main currency, usually USD.
There are two prevailing exchange rates to be used. The first one is the official exchange rate for that particular period. The second one is called “Purchasing Power Parity” exchange rate, which takes into account the difference in living expenses between countries. The first method is often used when comparing the size of international economies.
Size of Malaysia’s economy
Malaysia’s GDP is estimated to be around USD 354.3 billion in 2018, using the market exchange rate method. It’s the 4th largest economy in ASEAN, slightly smaller than its neighbor Singapore.
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
How much does Malaysia’s economy rely on external trade? See Chart
What are the key economic regions in Malaysia? See Chart
Economic Freedom Index: How free is Malaysia’s economy? See Chart