Malaysia was once the world’s largest producer of tin, rubber and palm oil. Its manufacturing sector has a crucial role in its economic growth. The export industry was hit hard during the late 2000 economic recession drastically dropping to 78% i.e. FDI to RM4.2 billion in the first two quarters of 2009. Total exports fell down to $156.4 billion in 2009 from $198.7 billion in 2008. The imports also reduced from 154.7 billion in 2008 to $119.5 billion 2009.
Malaysia Exports Commodities
Malaysia mainly exports the following commodities:-
Electronic equipment
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Petroleum and liquefied natural gas
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Wood and wood products
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Palm oil
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Rubber
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Textiles
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Chemicals
Malaysia Exports Partners
The following graph depicts the shares of various export partners of Malaysia:Malaysia Imports Commodities
Malaysia mainly imports the following commodities:-
Electronics
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Machinery
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Petroleum products
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Plastics
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Vehicles
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Iron and steel products
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Chemicals
Malaysia Imports Partners
The following graph depicts the share of various import partners of Malaysia:Importance of exports
- Employment. Growth in exports can create employment.
- Economic growth. Exports are a component of aggregate demand (AD). Rising exports will help increase AD and cause higher economic growth. Growth in exports can also have a knock on effect to related ‘service industries.
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