Malaysia is one of the most open economies in the world, ranking 12th out of 190 countries in the World Bank Doing Business 2020 Report. Its economy has diversified from one that leaned heavily on the export of natural resources like rubber and palm oil, to one that now includes manufacturing, services and tourism.
Population size
Median age
Capital
Currency unit
Internet penetration rate
Mobile penetration rate
US$14,766
GDP per capita projection
(Current prices, 2025)
5%
Real GDP growth projection
(Annual percent change, 2025)
A-
S&P global ratings
16.0 mil
Total labour force (2020)
93.7%
Literacy rate
MYR3,699
Nominal wage (2019)
24%
Corporate tax
74
Number of DTAs
0%
Dividend withholding tax
15%
Interest withholding tax
0%
Capital gains tax
Regulated
FX control
Exports US$238 bil |
Imports US$205 bil |
|
|
Based on 2019 data
Industry4WRD was launched in 2018 to drive digital transformation of the manufacturing and related services sectors in Malaysia, with the vision of turning Malaysia into a primary destination for high-tech industries.
Pioneer Status (PS)
Investment Tax Allowance (ITA)
Principal hub
MSC Malaysia Status
Sources: UOB Global Economics & Markets Research, Central Intelligence Agency’s The World Factbook, World Economic Outlook (October 2020), World Bank; UNESCO Institute of Statistics, Asian Development Bank, Malaysian Investment Development Authority (MIDA), Inland Revenue Board of Malaysia, Malaysia Digital Economy Corporation Sdn. Bhd.
This fact sheet is given on a general basis without obligation and is strictly for information only. Nothing in this fact sheet constitutes accounting, legal, regulatory, tax or other advice. This fact sheet is not intended as an offer, recommendation, solicitation, or advice to purchase or sell any investment product, securities or instruments. Although reasonable care has been taken to ensure the accuracy and objectivity of the information contained in this fact sheet, UOB and its employees make no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability for any error, inaccuracy, omission or any consequence or any loss or damage howsoever suffered by any person arising from any reliance on the information in this fact sheet.
Find out how we can help your business expand across ASEAN
Get in touch