INTRODUCTION

What is economy? Based on Merriam-Webster's Learner's

Dictionary, economy is the process or system by which goods and services are
produced, sold, and bought in a country or region. From another resources which
is from Business Dictionary, economy also can be defined as an entire network of
producers, distributors, and consumers of goods and services in a local, regional,
or national community.
The objective that to be underlined in this report is Malaysian
economy and world ratings. The 13th day of this May, defining moment in
Malaysian history and give a huge impacts towards Malaysian people itself either
positive

or

negative.

The

riots

were

what

eventually

resulted

in

the

implementation of a new policy agenda that would profoundly shape economic

and enterprise development in Malaysia. Confronted and being affected by the
crisis we surely take the black history as the current forms of our economic and
development. Just like Ralph Waldo Emerson, Unitarian minister in 1826 at the
Second Church Unitarian said When it is dark enough, you can see the stars.
Looking 50 years into the future of Malaysian economy is like
star gazing with a touch of science fiction. Half a century from now, the
probability for Malaysia to achieve the status of developed country same level
with another largest economy in the world and high income country such as
Japan, United State and China will be high. Because of that, you need to learn
how to select your thoughts just the same way you select your clothes every day.
This is a power you can cultivate. If you want to control things in your life so bad,
work on the mind. That's the only thing you should be trying to control. We need
to become one in order to achieve that status.
Nowadays, Malaysia attempting to achieve high-income status
from a producer of raw materials such as such as agriculture, forestry and
minerals into an emerging multi-sector economy such as oil and gas, automotive
and services sector.

The national oil company, Petronas is ranked the 69th

biggest company in the world in the Fortune 500 list in 2014. Petronas provides
around 30% of the Malaysian government's income. Companies with a significant
foothold in the automotive industry include Perodua, Proton and Naza making
Malaysia among the largest automotive manufacturer in the world. Proton had
been established on 1983 by Datuk Sri Tun Dr. Mahathir bin Mohamad. In the
agricultural sector, Malaysia is one of the top exporters of natural rubber
1

and palm oil, cocoa, pepper, pineapple and tobacco dominate the growth of the
sector.
Economic growth in Malaysia and other countries is calculated
as the percent change in the Gross Domestic Product (GDP) from one year to the
next. It measures whether production has increased or decreased, and by how
much. GDP is the sum of gross value added by all resident producers in the
economy plus any product taxes and minus any subsidies not included in the
value of the products. It is calculated without making deductions for depreciation
of fabricated assets or for depletion and degradation of natural resources.
Based on Figure 1a), the Gross Domestic Product (GDP) in
Malaysia expanded 0.70 percent in the second quarter of 2016 over the previous
quarter. GDP Growth Rate in Malaysia averaged 1.28 percent from 2000 until
2016, reaching an all-time high of 5.90 percent in the third quarter of 2009 and a
record low of -7.60 percent in the first quarter of 2009. GDP Growth Rate in
Malaysia is reported by the Department of Statistics Malaysia.
Based on figure 1 c) on appendix, International Monitory Fund
World Economic Outlook (WEO) had stated that Malaysias GDP current prices is
in the ranking 36 in the world defeated the country such as Singapore and
Denmark in 2016. Our current prices is 309 U.S. dollars (Billion). For GDP based
on PPP valuation, Malaysia is in the ranking 27 with 860 Current international
dollar (Billion) in 2016.
According to a report of HSBC, Malaysia will become the world's
21st largest economy by 2050, with a GDP of $1.2 trillion (Year 2000 dollars) and
a GDP per capita of $29,247 (Year 2000 dollars). The report also says "The
electronic equipment, petroleum, and liquefied natural gas producer will see a
substantial increase in income per capita. Malaysian life expectancy, relatively
high level of schooling, and above average fertility rate will help in its rapid
expansion." Viktor Shvets, the managing director in Credit Suisse, has said
"Malaysia has all the right ingredients to become a developed nation.

DESCRIPTION OF SITUATION/PROBLEM STATEMENT

By international standards, Malaysia has a medium sized,
but rapidly growing economy. It is self-sufficient in important natural resources,
2

including gas and oil, and has a good environment and climate for the production
of various crops. Agriculture is still an important export earner, although it
experienced stagnation with an average annual growth of only 0.2 percent
between 1989 and 1999. Malaysia is the worlds largest producer of palm oil
industries established as the name of Federal Land Development Authority
(FELDA) on July 1, 1956. It is accounting for almost half of the worlds production.
In the past, Malaysia also was the worlds largest producer of
rubber and tin but in the early 1990s rubber was overtaken by Thailand and
Indonesia while tin was overtaken by Brazil and Indonesia. Malaysia has
relatively large reserve of gas and oil. The country ranked 13 th in terms of the
worlds gas reserves and 22 nd in oil reserves.

Malaysia are rich with natural

resources and other resource. However, Malaysia is currently facing some real
challenges, over and above lower oil prices, the falling value of the ringgit, and a
slowdown in the rate of economic growth. This has led some expats to ask us
whether this is a bump in the road or a more serious problem. We continue to be
optimistic, but certainly some events are cause for concern.
Malaysia's markets have taken a beating from commodity price
drops and a political scandal, and one opposition politician believes the country
could now face a financial crisis if this issues getting worse. The Government of
Malaysia is continuing to build an efforts to boost domestic demand to wean the
economy off of its dependence on exports. Being one of the most successful
developing countries in the South East Asia region, Malaysia gained stable and
consistent growth in terms of GDP for the past decade. However, something
somewhat interesting is that the Malaysia Ringgit (MYR) depreciated more than
20 percent relative to the US Dollar (USD) from 1st of September 2014 until
today.
To prove that Malaysia Ringgit (MYR) had been depreciated,
based on the article The Market Mogul, Whats Wrong With Malaysias Economy
written by William Lee our currency is decreasing by 9.8% against the dollar
which is much worse than Philippine peso which is 2.2% and Thai baht 6.4%.
Malaysian economy is highly dependent on commodities such as petroleum and
palm oil industries. These two commodities are the main exports from Malaysia,
with severe negative ramifications from the global price of oil plummeting, as the
nation depends on oil for about 30% of its revenue. By contrast, Thailand and the
Philippines have significantly advanced manufacturing sectors enabling them to
3

diversify their dependencies away. For instance, automobile companies which

utilise imported components in their vehicles would feel the impact of weak
ringgit and market the finished vehicles on a higher price to the end consumers.
What caused the drop in the ringgits value is because of the
lower value of oil. As oil is one of Malaysias main exports, the declining price of
Brent crude oil of 38% from its June 2014 high is affecting the currency. Oil prices
have fallen because supply has been exceeding demand, mostly due to high
production of oil in the US. The price of Brent crude oil has now fallen to a fouryear low. OPEC (The Organization of the Petroleum Exporting Countries), has so
far declined to cut back on its production of oil too. In June 2015, Bloomberg
reported that the world is facing its longest oil glut in three decades as supply
continues to outpace demand. Other than drop in the Malaysia ringgit (MYR) also
caused by Malaysias 1MDB debts. This has also affected confidence in the
ringgit.
This year has seen huge changes across the entire spectrum of
the Malaysian body politic and economy. Unlike in earlier years of under Prime
Minister Najib Tun Razaks administration, Malaysias economy is now seen to be
in trouble, with contracting growth, rising inflation, continued high levels of
capital flight, declining consumer and investor confidence, and a depreciating
currency. Inflation is a general increase in prices and fall in the purchasing value
of money. Factor that have the potential to cause marked shifts in the declining
of consumer and investor confidence is because of policy shifts in the stance of
government fiscal policy, including large structural spending cuts or increases or
decreases in taxation rates. For example the falling value of the ringgit in June
2015 has been attributed to the prospect of the US increasing its interest rates.
Slowdown of the Chinese economy, Malaysias largest trade
partner, has contributed to a sharp decline in Malaysias GDP growth. China has
been trying to shift its export driven growth to consumer spending, but evidently
this has not been smooth sailing. This show that Malaysia is too dependent on
Chinese economy. On 11 August 2015, China devalued its currency which caused
other Asian currencies to suffer and pushed the ringgit down further, as the
devaluation of the yuan strengthened the dollar. Exports are likely to be sluggish
given the overall slow growth of global GDP, overshadowed by the slowdown in
the worlds second largest economy which is China which also represents
Malaysias largest trading partner.
4

The July release of the Wall Street Journal article alleging

deposits of nearly US$700 million into the premiers personal account tied to the
1MDB sovereign fund has raised concerns about Najibs management of the
economy. Rather than have a thorough investigation of the 1MDB allegations, the
Government has undermined efforts to win back Malaysian confidence. With
multiple jurisdictions now investigating the transactions involving 1MDB, the
crisis has placed Malaysia under a negative international spotlight. Transfer of
USD700 million of 1MDB money have caused further weakening of confidence in
the currency.
Wong Chen, a member of Malaysia's parliament told CNBC that
today the household debt level is quite high. Households take on debt for several
reasons to buy a house and car, to support other consumption, or to finance
other investment. In deciding to borrow, households make assumptions about
their ability to repay the loan over its lifetime.

The household debt has a

negative effect on growth and stability of the lower economic development in

this individual countries like Malaysia. A high level of household debt can affect
both the financial system and the economy in several ways. According to crosscountry research by the OECD (2013) and Sutherland et al (2012), when
household debt is high, consumption volatility increases. CIMB Research head of
economics

Lee

Heng

Guie

concurs,

saying

that

excessive

household

indebtedness not only raises concerns over its sustainability but also poses a risk
to the overall financial system.
The biggest worrying factor is the domestic confidence level has
plummeted due to the goods and services tax (GST) and also due to the fact that
politically it's not very stable. Malaysia's GST of 6 percent, introduced in April to
shore up government revenue, has proved unpopular and slowed consumer
spending. The cost of imported components utilised by domestic producers will
also contribute to the impact. This results in us expressing great disdain over the
price hike of imported fresh goods such as vegetables, fruits, etc. because as
Malaysians, we live to eat. At the same time, Malaysians are struggling with a
high level of personal debt which could set off an economic blow up along the
lines of the 1997 Asian Financial Crisis, which was caused by a surfeit of dollardenominated debt.
Other than that, consumer goods will be subjected to higher
costs. Malaysia disproportionately imports many of its basic stables, including
5

rice. Although officially at low numbers, inflation is hitting ordinary citizens

particularly hard, as they are reeling from the double impact of the imposition of
the GST and a depreciating currency. Through measures such as toll hikes, the
Government also has opted to increase transportation costs to consumers during
these challenging months. Thus, a negative inflationary impact is evolving at a
time when GDP growth will be lower.
Ahead of the Governments 2016 budget, Malaysia is staring
down fiscal challenges unlike any that it has faced over its history as an
independent nation. What the meaning by fiscal based on English Oxford Living
Dictionaries, it is relating to government revenue especially taxes. Global drops
in oil and gas prices now at levels less than half of those prevailing a year ago
have had a special impact on Malaysia. Government revenues from petroleum
had accounted for almost 40 per cent of total revenue. The fall in other
commodity prices, including those of rubber and palm oil, have affected export
earnings, all contributing to less funds in government coffers.
Unemployment in Malaysia also pushes wages down and lower
wages lead to lower prices. Lower prices could induce demand to rise through
two channels. First, when prices fall, individuals can buy more with the money in
their pockets. Even though wage incomes are lower, some people might buy
more because the purchasing power of money they accumulated goes up.
Economists call this channel a wealth effect because it represents additional
spending induced by the higher purchasing power of one part of household
wealth, the stock of money.

Second, when the purchasing power of the

economys money stock rises, people need less money to finance their day-today transactions. The demand for holding money goes down, which lowers the
price of money, that is, the interest rate falls. A lower interest rate reduces the
reward for saving, encouraging households to spend more. It also makes loans
cheaper which can encourage more borrowing by households and firms that
leads to spending.
In Malaysia this crisis may give us a negative impact based on
the poverty, employment and the infant mortality. This may because of the life
expanses kept going higher every years due to economy problems. The chart 1
a) on appendix show the latest statistical data on poverty and socioeconomic
development in Malaysia and compare poverty indicators among countries in
Southeast Asia.
6

1. In Malaysia, 0.6% of the population lives below the national poverty line.
2. In Malaysia, 65.6% of the population aged 15 years and above is

employed.
3. For every 1,000 babies born in Malaysia, 6 die before their first birthday.

SOLUTION/VIEWS TO OFFER
We all make mistakes, have struggles, and even regret things
in our past. But you are not your mistakes, you are not your struggles, and you
are here now with the power to shape your day and your future. Said Steve
Maraboli

who is a life-changing Speaker, bestselling Author, and Behavioral

Scientist who lends his popular voice to various topics. To overcome the
slowdown in the rate of economic growth, meaningful changes are needed to be
done to make Malaysia to achieve the status of developed country same level
with another largest economy in the world and high income country such as
Japan, United State and China.
Inflation is when the economy grows due to increased spending.
When this happens, prices rise and the currency within the economy is worth less
than it was before. This basically means that the currency wont buy as much as
it would before. When a currency is worth less, its exchange rate decreases when
compared to other currencies. There are many methods used to control inflation,
including some that work and some that dont work without damaging
consequences such as a recession. For example, controlling inflation through
wage and price controls can cause a recession and hurt the people whose jobs
are lost because of it.
Malaysian can reduce the money supply within economy by
decreasing bond prices and interest rates. This method helps to reduce our
spending because when there is less money to go around, those who have
money want to keep it and save it instead of spending it. This will reduce
spending into the unwanted and unimportant goods. By reducing spending
during inflation crisis help economic growth and overcome the rate of inflation to
become worse.
Federal Reserve also can increase interest rates. The Federal
Reserve rate is the rate at which banks borrow money from the government. But
7

in order to make money, they must lend it at higher rates. So when Federal
Reserve increase its interest rate, banks have no choice but to increase their
rates as well. Thus, less people want to borrow money because it costs more to
do so. So, spending drops, prices drop and inflation slows.
Falling wages and prices are not an effective cure for
unemployment caused by insufficient wages. Unemployment will likely cause
wages to decline. Lower wages reduce costs and encourage firms to reduce
prices. We can see the unemployment in Malaysia likely to be the fresh
graduates. Thus to overcome the unemployment issues in Malaysia, attitude of
the graduates themselves to choose to think and work professionally and not to
be negative towards any work. Government and Public Institutions of Higher
Learning (IPTA) need to hold special courses or planning firm to prepare workers
for graduates from the public sector or the private sector entrepreneurship,
agriculture, mining and others. This courses also must be related and suitable
towards Malaysia economy itself.
In form of education, government should also encourage
entrepreneurial

education

in

primary

and

secondary

and

tertiary

level.

Entrepreneurial education means that the graduates will eventually become job
creators by starting the business in a field that they have acquired proficiency
during their tertiary education. Thus they will be able to create employment for
themselves as well for others. Graduates need to improve the English language
to give yourself the advantage of getting a job. In addition, the government also
should raise the standard of education and also continue to promote the
interests of English among the graduates so that this problem will not haunt your
mind of all Malaysians in the future. In addition, graduates should also be wise to
communicate and have confidence when confronted with others, do not be afraid
and hesitate to answer when people interact with the upper ranks.
Todays economy demands a better educated workforce than
ever before, and jobs in this new economy require more complex knowledge and
skills than the jobs of the past. Research from the Centre for Education and the
Workforce at Georgetown University debunks that the economy lacks jobs for
young people to fill, finding instead that industries across the economy have
created a wealth of new jobs that require workers with appropriate education and
training. An educational strategy for providing young people with the academic,
technical, and employability skills and knowledge to pursue postsecondary
8

training or higher education and enter a career field prepared for ongoing
learning should be introduced.
We also can increase our productivity or even improve it.
Productivity is the amount of output produced with given labour and physical
capital. For countries, it is about creating more from available resources such as
raw materials, labour, skills, capital equipment, land, intellectual property,
managerial capability and financial capital. With the right choices, higher
production, higher value and higher incomes can be achieved for every hour
worked. There are some general foundations for improving productivity, such as
respect for the law and property rights, effective governance arrangements and
an attractive business environment, including a high-quality low cost regulatory
environment.
A countrys productivity performance is also influenced by
factors that governments cannot do much about, such as size, natural resource
endowment and distance from global markets. Even then, successful countries
develop policies and strategies to mitigate or accommodate such factors. More
generally, there is no room for complacency ongoing improvement of the broad
framework that shapes and incentivises productivity is essential. Money is
necessary to build the infrastructure the global economy needs, but it is not
enough. Governance, commitment, and more than a little imagination are also
required. As it is, the world spends much more money than it should for the
results it gets. Even small improvements would bring huge benefits.
Through institutional reforms, we can restore the independence
of the law enforcement agencies, safeguard the independence of the judiciary,
safeguard the integrity of Bank Negara or even strengthen the independent
enforcement of the anti-corruption bodies. Although corruption effects on
democratic institutions and economic and social development have long been
apparent, the fight against corruption has only recently been placed high on the
international policy agenda. Today, many international organisations are
addressing the global and multi-faceted challenge of fighting corruption such as
Malaysian Anti-Corruption Commission (MACC). In the old Malaysia, corruption
cases took years to reach the courts, rendering many of the complaints relatively
meaningless. With the creation of anti-corruption courts in recent years, and a
mandate that all corruption cases be adjudicated within 12 months. They will and

should continue in the months and years ahead, regardless of who leads the
Malaysian government.
Debt can be a double-edged sword. Its useful for taking
advantage of opportunities quickly and it can smoothen things out when people
are in a pinch. Debt is like a rubber band. For people and households, there too is
a prudent limit as to just how much loans one can stomach on their incomes and
given that Malaysia has one of the highest debt levels in the region. To overcome
this situation to become worse by supporting the growth of Islamic finance in
Malaysia which in this recent years it has captured the global market as an
alternative to the unstable conventional system. It does not allow the creation of
debt through the direct lending and borrowing of money or other financial assets.
The assets which are leased or sold must be real and the transactions must be
genuine with the full intention of giving and taking charge and the associated
risk cannot be sold or transferred. Islamic financial system is seen as a measure
to cater a more resilient financial market with its distinguishing features.
How to overcome commodity price drops is by building the
strategies either from producer of buyer. Primary producers can be vulnerable to
commodity price drops. One useful strategy is to diversify output for example, by
rotating crops and livestock. In this case, it's a good idea to ensure that the
alternatives are not exposed to similar price risks. There may also be volatile
grain prices affecting livestock feeding. It also pays to be flexible. For example,
you might opt to grow produce in hot houses during the offseason when supply
is reduced and prices are higher. Another option to safeguard against commodity
price fluctuations could be to sell to a buyer who can guarantee a set price, such
as a cooperative (also known as pooling).

Another tactic is to review the

production process for example, look for ways to replace expensive ingredients
with cheaper alternatives. Another is to review the marketing and see if the
product can be reduced in size and a better value proposition found without
causing customer dissatisfaction. Commodity price fluctuations affect all types of
businesses. These strategic approaches can protect profits, competitiveness and
relationships with customers and suppliers.
Labour are all the people employed in the economy. The
economy can expand by simply increasing the number of people who work. This
could be the result of population growth or greater labour force participation
rate. For example, the entry of female workers into the labour force has been a
10

great boost to economic development in many countries. Germany is one

example. Those additional workers produced goods and services and helped
expand the economy. In short, the economy can expand if there are more people
working, if they use more machines and equipment, and if the people and
machines are put to better use.
Furthermore, through government processes and programs. By
introducing more transparent processes in the purchase of goods and services by
the public sector, an overall review of the tax system, develop a stronger social
safety net to address growing economic difficulties among vulnerable groups
also can improve Malaysia economic development.
Yesterday is history, tomorrow is a mystery, today is a gift of
God, which is why we call it the present. Quote by Bill Keane. As Malaysian we
need to change our attitude and stand to build back our country. The history of
inflation, recession and also our misery cannot be happening towards our next
generation. The bottom line is simple yet important. The response to the
challenging outlook should neither be paralysis or more of the same. Instead, we
collectively need to make greater efforts to arm the next generation with the
right mix of agility. We owe this to them not just to offset the excesses of our
generation and thus the burden we have already imposed on them but also as
responsible

parents,

grandparents

and

citizens

of

vibrant

and

caring

democracies.

CONLUSION
Malaysias economy rebounded considerably well from the 1997
Asian crisis without incurring in IMF loans and hence future debt. Economic
forecasts are optimistic even though there was a deceleration in the economy
due

to

slowdown

in

the

market

for

information

technology.

Also,

macroeconomic numbers remain stable and there is a strong confidence in the

country's future performance. Asian financial crisis of 1997, most of the major
companies that the government had privatized and reserved for Proton, the
national car company, Malaysian Airlines, the Renong engineering group, and the
Malaysian Resources media group, had to be renationalized to prevent their
collapse.

11

The relationship between economic growth, human well-being,

and the achievement of a sustainable future has a long and complex intellectual
history. The American conservationist Gifford Pinchot emphasized that the right
of the present generation to use what it needs and all it needs of the natural
resources now available equally our obligation so to use what we need that our
descendants shall not be deprived of what they need. Thus, developing countries
like Malaysia should monitor their economic policies independently from external
organizations such as the IMF. Other than that, the government should play
important roles when its necessary like the case of Malaysias government
during its crisis.
World Commission on Environment and Development (WCED),
defined the sustainable development as a process that meets present needs
without compromising the ability of future generations to meet their own needs.
It had been predicted that natural resource depletion and environmental
degradation would lead to an irreversible collapse of the global economy by the
early twenty-first century and today we can see that Malaysia had going through
this phenomenon.
As oil is one of Malaysias main exports, the declining price of
Brent crude oil of 38% from its June 2014 high is affecting the currency. Oil prices
have fallen because supply has been exceeding demand, mostly due to high
production of oil in the US. From Donella H. Meadows, Dennis L. Meadows, Jorgen
Randers, and William W. Behrens, III, in their 1972 book, The Limits to Growth,
they stated and analysed that avoiding catastrophe would be possible if and only
if:
1. Natural resource use and pollution per unit of industrial output was cut by
at least 75 percent.
2. Industrial production was stabilized at the level prevailing in the late
twentieth century.
3. Goods and services were redistributed from the rich to the poor to provide
a high quality of life for all members of the global community.
If Malaysia have strength to overcome the crisis that already
happening in Malaysia, by 2020, major cities in Malaysia will have undergone a
step change in their economic growth, importance as talent hubs, and liveability.
City residents will be able to afford urban housing, have adequate public
transportation systems, enjoy green and open spaces, and have access to
12

economic opportunities that will enable them to provide their children with a
better future. While these four cities selected based on their strong fundamentals
will serve as pioneers, the transformation will be expanded to other cities over
time. These cities will serve as role models for other cities in the country and
region.

REFERENCES
1. http://www.businessdictionary.com/definition/economy.html (retrieved on
23rd September 2016)
2. http://www.merriam-webster.com/dictionary/economy (retrieved on 23rd
September 2016)
3. http://www.nationsencyclopedia.com/economies/Asia-and-thePacific/Malaysia-ECONOMIC-SECTORS.html (retrieved on 23rd September
2016)
4. Prof. Dr. Edmund Terence A/l Eric Boniface Gomez, Malaysian Economy:
May 13 and 40 Years Beyond, StarBizWeek, Saturday 30 May, 2009
5. Datuk Zainal Aznam Yusof, (2007), Malaysia among the Ranks of the
Developed.
6. William Lee, (2015), The Market Mogul, Whats wrong with Malaysias
Economy? http://themarketmogul.com/whats-wrong-with-malaysiaseconomy/?nabc=0
7. Michael Reddell (chair), Chris Hunt, Jeremy Richardson, (2015), Reserve
Bank of New Zealand: Bulletin, Economic implications of high and rising
household indebtedness Volume 78, No. 1.
8. Mabel Ho and Ling Low, Why is the value of the ringgit falling? Six things
to know about the currency drop. December 2014.
9. Saleena Saleem, (2015), Malaysias Economic Challenges: Implications of
Ringgits Fall, Nanyang Technological University, Singapore.
10.Abd. Rahim Abd. Rashid,Sufean Hussin,Abu Talib Putih (2015). Career
Development and Unemployment Problems in Malaysia: Crisis of Education
and Training, , Kuala Lumpur
11.Michael J. Hershman, (2012) WORLDPOST, Anti-Corruption Program in
Malaysia and A Comprehensive Approach
12.Goo Soo Khoon and Michael Lim Mah Hui 2010, (2010). The Impact of
Global Financial Crisis: The case of Malaysia, Third World Network Global
Economy Series, Third World Network.

13

13.Gale Raj Yanice Coln Silvana Kostembaum Robert Cordova, (2002),

Malaysia: An Economic analysis International Financial Policy, Malaysia.
APPENDICES

Figure 1 a): Malaysia GDP Growth rate from 2013 until 2016

Figure 1 b): GDP Growth in Malaysia from 2011 until 2015.

Figure 1 c): Malaysia World Ranking Gross Domestic Product (GDP) based on
current prices and PPP valuation.

14

15

Chart 1 a): The latest statistical data on poverty and socioeconomic development
in Malaysia and compare poverty indicators among countries in Southeast Asia
based on Basic Statistic 2016.

16