A major push to boost efficiency in the agriculture and plantations sectors is under way, with the government allocating some RM6bn ($1.8bn) to the sector in its 2014 budget to support a drive for greater productivity, among other strategies. The bulk of agriculture’s contribution to GDP comes from plantation crops, which accounted for 36.5% of the sector’s value in 2012, followed by rubber (8...
In 2013 tourism was the sixth-largest contributor to Malaysia’s economy, making up $16.1bn of gross national income, from seventh place in 2012. The government and the private sector have taken many concrete steps in recent years to ensure the arrival of more and more visitors, be it for business or leisure. In the year marked by two Malaysian Airlines tragedies, the industry is making a...
A key contributor to the economy, manufacturing accounted for 24.5% of Malaysia’s GDP in 2013, ranking it second only to the services sector (55.2%) and well ahead of mining (8.1%), agriculture (7.1%) and construction (3.8%). As Malaysia increases its global trade via participation in trade agreements such as ASEAN and the Trans-Pacific Partnership Agreement (TPPA), enhancing efficiencies and...
The construction sector has experienced consistently strong growth in the past four years as the industry expanded by 11.4%, 4.7%, 18.1% and 10.1% each year from 2010 to 2013. Sector growth has surpassed GDP growth in recent years, spearheaded by the government’s Economic Transformation Programme (ETP) and public-private partnership (PPP) projects. Counterbalancing the interest shown in the...
As Malaysia aims to achieve high-income country status by 2020, the key to reaching the goal is enhancing transport infrastructure, with major investments in air and sea, road and rail currently under way. At the same time, the logistics sector remains highly competitive, with air transport in particular seeing some fierce price wars in 2013-14. The most recent census – for 2010 – confirmed a...
With Malaysia’s steady economic growth and expected regional surge in energy demand, the country’s oil and gas sector continues to play a key role economically, socially and strategically. Most of the country’s major oil-producing fields are in the west, with the Sabah and Sarawak basins in the east. As mature oil fields continue to decline in production, development of new fields has shifted...
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