Malaysian Economy to Grow due to Strong Consumption and Export Activities

Updated on Thursday 05th April 2018

The Malaysian economy is set to grow to a higher level than the previous estimates issued by the country’s central bank. In October 2017, Bank Negara, the Malaysian central bank, estimated that the country’s gross domestic product (GDP) will reach in 2018 5-5.5%, while the latest estimates show a growth rate of 5.5-6%. The central bank modified its projections on the country’s economic growth on the grounds of strong consumption and export activities. Businessmen interested in investing in this country may receive in-depth assistance on the export regulations available here from our team of specialists in company registration in Malaysia
 

Malaysian exports 


Malaysia enjoyed in the last years favorable conditions on import-export matters. In 2018, the trend will be maintained due to the external demand of the country’s main trading partners

The level of exports will also be sustained as a consequence of the expansion of the global technology

According to the data provided by the International Monetary Fund (IMF), the level of exports in Malaysia will increase throughout 2018 by 3.9%

As a general rule, the highest level of demand of Malaysian products derive from other Asian countries, with which Malaysia trades most of its local goods and products (in 2017, 70.6% of the Malaysian exports were sold on other Asian countries). Our team of consultants in company formation in Malaysia can provide in-depth assistance on the trading agreements concluded by the country’s representatives with other contracting states. 

Europe represents the second largest export market for Malaysia and in 2017, 11.2% of the local products were sold on this market. 


The structure of the Malaysian exports  


Most of the Malaysian exports are represented by manufactured goods (more specifically, 82.2% of the total products traded in 2016). 

9% of the exports are included in the agricultural goods category, while 8.2% of the traded products represent mining goods. In 2017, mineral goods had the fastest growing rate, increasing by 25.44% from 2016 to 2017 due to exports of petroleum oils and gases

Foreign investors are invited to contact our team of agents in company registration in Malaysia for more details concerning the export activities developed in this country.