ICAEW: GDP in Malaysia to Grow by 5% in 2018

Updated on Friday 22nd December 2017

The Institute of Chartered Accountants in England and Wales (ICAEW) estimated that the Malaysian gross domestic product (GDP) will grow by 5% in 2018. Investors interested in opening a company in Malaysia should know that the GDP projections for 2018 are influenced on a positive manner by the level of trading activities, including exports from this country. Our team of consultants in company formation in Malaysia can provide in-depth information on the import-export regulations applicable in this jurisdiction. 

Main contributors to the Malaysian GDP 

As mentioned above, the Malaysian GDP is highly influenced by the level of exports. However, other economic sectors have an important contribution to the local GDP
Investors interested in starting the procedure of company registration in Malaysia should take into consideration that the main contributors to the Malaysian GDP, at the level of 2016, were the following:
services sector (55.68%);
industry (35.68%);
agriculture (8.65%). 
At the level of 2015, the main employer in Malaysia was represented by the services sector, which employed 60% of the local workforce. Our team of agents in company formation in Malaysia can offer more details on the regulations available for the Malaysian workforce


Economic development in Malaysia 

Malaysia is known as an upper middle-income jurisdiction, but the representatives of the country aimed at becoming one of the top high-income countries in the Southeast Asian region by 2020. In the last 40 years, the local economy increased at a steady rate and it established economic partnerships with numerous trading partners
If in the 1970s the country’s main economic activities were divided between agriculture and exports, at the moment, Malaysia is considered an open economy which encourages foreign investments in numerous business fields. Investors are invited to contact our team of specialists in company registration in Malaysia for more details on the investment law available for foreign entities.