Malaysian Economic Miracle Essay
Malaysia is a country with developing economy. It belongs to group of the richest and developed countries among developing countries - to the group of New Industrial Countries. “In 2007, the economy of Malaysia was the 29th largest economy in the world by purchasing power parity with gross domestic product for 2007 was estimated to be $357.9 billion”-(from Wikipedia,free Encyclopedia).
Nowadays Malaysia became the world’s largest producer of tin, rubber, and palm oil. These three commodities along with other raw materials firmly set Malaysia's economic tempo well into the mid-20th century (from …show more content…
In Malaysia agriculture is 7,3 % of gross domestic product, the industry - 33,5 %, and sphere of services - 59,1 % of gross domestic product. The population of the country is occupied with following spheres: the industry - 27 %, agriculture + wood + a fishing industry - 16 %, tourism and local trade - 17 %, services - 15 %, the government (authority) - 10 %, construction - 9 %.
Malaysia firstly is agricultural country. The hot damp climate allows growing up many agricultural crops: rubber plants, palm trees (for reception of oil) and fruits. Malaysia has an outlet to the sea, allowing catching fishes and seafood. Also Malaysia has rain tropical woods, which possess an enormous stock of wood.
Also Malaysia is rich with mineral resources: oil, the world famous oil company Petronas has constructed legendary towers-twins), natural gas, iron and tin ores.
Another source of income of Malaysia is an industry.
First, it is light, textile industry. Secondly, production and assemblage of electronics.
Possessing qualitative, but a cheap labor force, Malaysia became "assembly department" of many companies, basically Japanese. The sphere of services and tourism play a significant role. The country is visited annually with 2-4 million tourists. Many people wish to