Despite being a small and only relatively open economy, Malaysia has come a long way economically since achieving its independence. Malaysia’s economy was, in 2005, the 34th largest economy in the world in terms of purchasing power parity. Additionally its gross domestic product that year was estimated at $290 billion.

Malaysia has a stable and fast-growing economy with a Gross Domestic Product (GDP) of a 4.1 per cent growth since last year. Manufacturing constitutes the largest single component, while tourism and primary commodities such as petroleum, palm oil, natural rubber and timber are other major contributors.

Over the years, Malaysia’s poverty rate has fallen dramatically as the country has established itself as a successful manufacturing hub.
Malaysia has also been successful in attracting foreign investment, with its wealth of natural resources, and also achieved rapid growth through privatisation of inefficient state-owned enterprises.

Malaysia also embarked on a number of mega-projects, such as Putrajaya, the Multimedia Super Corridor, a hydroelectric dam (Bakun dam), the Kuala Lumpur International Airport and the renowned Petronas Towers, all of which have helped gain Malaysia international attention.