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FY 1999: Malaysia |
CHAPTER X: ECONOMIC AND TRADE STATISTICSA. COUNTRY DATA
Population: 21.2 million (1996); 21.7 million (1997); 22.2 million (1998f) Population Growth Rate: 2.3% per annum (Seventh Malaysia Plan, 1996-2000)
Religions: Islam (the official religion and that of all of the Malay population, about 60% of the national total); Buddhist, Confucian, Taoist (much of the Chinese population, about 30% of the national total); Hindu (much of the Indian population, about 10% of the national total); Christian (about 3%).
Government System: Constitutional monarchy with a parlia- mentary structure, with executive power vested in a Prime Minister. UMNO, the United Malays National Organization, has held dominant power since independence in 1957, in coalition with smaller Chinese and Indian parties.
Languages: Bahasa Malaysia is the national language. However, English is widely understood and used in business. Chinese and Indian languages are used within their respective communities.
Work Week: Government and most businesses: Monday-Thursday: 8:00 a.m.-12:45 p.m. 2:00 p.m.-4:15 p.m. Friday: 8:00 a.m.-12:15 p.m. 2:45 p.m.-4:15 p.m. Saturday: 8:00 a.m.-12:45 p.m.
In Kelantan, Terengganu, Johor, Perlis and Kedah States: Saturday-Wednesday: 8:00 a.m.-12:45 p.m. 2:00 p.m.-4:15 p.m. Thursday: 8:00 a.m.-12:45 p.m.
U.S. Embassy: Monday-Friday: 7:45 a.m.-4:30 p.m.
B. DOMESTIC ECONOMY
1996 1997 1998(F)
Real GDP: 52,032 50,143 34,521
(US$millions-1978 prices) Real GDP Growth Rate (%) 8.6 7.8 -2.0 GDP per capita:(US$) 4,703 4,552 3,067 Govt. spending as % of GDP 22.6 21.3 16.9 Inflation (%) (CPI) 3.5 2.7 7.5 Unemployment (%) (official) 2.5 2.7 3.5 Foreign Exchange Reserves (US $millions) 27,695 21,700 N/A Avg. Exchange Rate for 1 USED 2.51 2.81 4.0 Debt Service Ratio (%) 5.7 5.1 N/A US economic/military assistance (International Military and Education Training) 0.6 0.7 0.7* (Source: Bank Negara Annual Report 1997 Ministry of Finance Economic Report 1997/98 U.S. Department of Commerce
U.S. Embassy Estimates (F) Forecast by Ministry of Finance Economic Report 1997/98 and Bank Negara Annual Report 1997; U.S. Embassy estimates
* An additional US$100 million is expected to be approved
C. TRADE OVERALL: (US $ millions)
1996 1997 1998F Total Malaysian Exports (f.o.b.) 76,932* 78,785* 74,718*** Total Malaysian Imports (c.i.f) 78,598* 78,642* 73,267*** U.S. Exports to Malaysia (FAS) 8,521** 10,828** 10,118*** U.S. Imports from Malaysia (c.i.f.) 18,331** 18,523** 7,517***
(Sources: *Official Malaysian Statistics; **USDOC data; ***U.S. Embassy estimates based on first quarter 1998 figures.)
D. INVESTMENT STATISTICS
TABLE ONE
SOURCES OF INVESTMENT IN MALAYSIA (VALUE IN US$ MILLION; SHARES IN PERCENT)
Country 1994 1995 1996 1997
U.S. 478 721 1,157 853 Japan 674 839 1,843 770 Germany 250 60 59 644 Taiwan 1,097 577 310 479 Singapore 406 404 1,906 456 Korea 156 242 258 241 U.K. 36 76 152 74 Switzerland -- 27 755 45 Australia 67 56 54 32 India 2 189 25 9 Hong Kong 36 70 5 8 France 19 39 6 1 Finland -- 2 65 1 Other 1,107 355 224 469 TOTAL $4,328 $3,657 $6,795 $4,082 U.S. Share 11 19.7 16.9 20.1 Foreign $4,328 $3,657 $6,795 $4,082 Domestic $4,432 $4,690 $6,853 $5,107 Foreign Share 49 44 49 44
Source: Malaysian Industrial Development Authority
Exchange Rates: 1994 (USD=RM2.62),1995 (USD=RM2.50), 1996 (USD=RM2.51), 1997 (USD=RM2.81).
Note: Manufacturing investment only, does not include the upstream oil and gas industry.
TABLE TWO
FOREIGN INVESTMENT BY SECTOR(US$ MILLION)
Sector 1994 1995 1996 1997
Food Mfg 77 48 51 62 Textiles 465 189 137 50 Paper, Print 32 39 626 170 Chemicals 429 730 87 260 Petroleum 90 157 1,000 1,495 Rubber Prod 23 31 23 32 Non-Metal 307 502 259 41 Basic Metal 150 190 244 249 Fab'd Metal 94 114 230 215 Electronics 1,842 949 3,681 1,023 Transport 95 185 133 100 Other 724 523 324 386
TOTAL $4,328 $3,657 $6,795 $4,083
Source: Malaysian Industrial Development Authority
TABLE THREE
MALAYSIAN INVESTMENT ABROAD (US$ MILLION)
Country 1994 1995 1996 1997
U.S. 239 226 571 832 Singapore 861 969 845 658 Hong Kong 792 505 328 302 Indonesia 38 131 165 220 U.K. 193 302 540 200 Australia 245 241 216 175 France 4 7 40 157 China 83 132 204 112 Philippines 85 258 151 103 Other 601 635 1,090 749 TOTAL 3,247 3,464 4,559 3,508 Investment data include equity investment, purchase of real estate abroad and extension of loans to non-residents.
Source: Cash BOP Reporting System, Bank Negara Malaysia
TABLE FOUR
FDI FLOW TO MALAYSIA (US$ BILLION)
1994 1995 1996 1997
FDI** 4.35 5.52 5.74 6.83 % of GDP 6.1 6.5 5.8 6.9
** FDI data are not available for 1994, instead, net corporate inflows recorded in the Balance Of Payments Account are used. Source: Bank Negara Annual Report 1994-1997
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