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PAIR ASSIGNMENT (15%)

Course Code/Name : EBU 1033 MALAYSIAN ECONOMICS

ENVIRONMENT

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Student Details & Declaration

We hereby declare that this assignment is our own work and does not involve plagiarism or collusion.

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Report /15 /5%
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Poster /20 /10%

Malaysia has successfully diversified its economy from one that was initially based on
agriculture and commodities to one that now hosts robust manufacturing and service sectors,
propelling the country to become a leading exporter of electrical appliances, parts, and
components. Malaysia has a mixed economic system that includes a mix of private freedom
and centralised environmental control. Openness to trade and investment has aided job
creation and income growth, with export activities accounting for roughly 40% of Malaysian
jobs. Malaysia's economy has been on an upward trajectory since the Asian financial crisis of
1997-1998, averaging 5.4 percent growth since 2010, and is expected to transition from an
upper middle-income economy to a high-income economy by 2024.

Government regulation and economic planning Malaysia belongs to the Asia-Pacific

Economic Cooperation (APEC), the Association of Southeast Asian Nations (ASEAN), and
the Trans-Pacific Partnership (TPP) (TPP). Malaysia has an upper-middle income level,
according to the World Bank. Manufacturing, including electronics, has emerged as the most
important economic sector, followed by agriculture, retailing, and hospitality. The production
and export of primary industries such as crude oil, palm oil, tin, and rubber have made
significant contributions to the country's socio economic development. Malaysia leads the
world in rubber production and is a major producer of cocoa, palm oil, tropical hardwoods,
pepper and tin.

Sub sector of manufacturing and construction are the current structure of Malaysian
economic sub sector that develop the country. The Manufacturing sector grew at a faster rate
of 26.6 percent (Q1 2021: 6.6 percent) in the second quarter of 2021, but it declined by 0.1
percent quarter on quarter. Manufacturing sector growth was led by petroleum, chemicals,
rubber, and plastics products (28.0 percent) and electrical, electronic, and optical products
(26.3 percent), which also contributed to the strong growth in goods exports recorded in this
quarter. The increased in transport equipment, other manufacturing & repair (41.6 percent)
and non-metallic mineral products, base metals, and fabricated metal products contributed to
the higher growth (33.5 percent ). The Construction sector increased by 40.3 percent,
following a 10.4 percent decrease in the previous quarter. Specialised construction activities
and civil engineering contributed 58.1 percent and 50.0 percent, respectively, to the
performance. Furthermore, the Non-residential buildings (34.8%) and Residential buildings
(16.3%) sub-sectors improved in this quarter. Nonetheless, the Construction sector fell 8.8
percent quarter on quarter.

References

World B. (2020, November 11) How can countries identify and prioritize opportunities for high-
impact climate actions that support development and economic growth? Our new Country
Climate and Development Reports can help (status update). Facebook
https://www.facebook.com/worldbank
(2021, November). Department of statistics Malaysia. https://www.dosm.gov.my/v1/index.php?
r=column/cthemeByCat&cat=100&bul_id=TlpjcDZKcVlrNkpQVUFqOXBXeVRDZz09&menu_i
d=TE5CRUZCblh4ZTZMODZIbmk2aWRRQT09