Malaysia’s National Income
Malaysia is the third richest in Southeast Asia by GDP per capita values, after the city-states
of Singapore and Brunei. Malaysia’s economy is one of the most competitive in the world,
ranking 14th in the Ease of Doing Business Index for 2015. Malaysian economy is highly
robust and diversified with export value of high-tech products in 2014 stood at 63.3 billion
USD, the second highest after Singapore in ASEAN.
The Malaysian palm oil industry is significant contributor to Malaysia’s overall economy,
providing both employment and income from exports. In 2011, the sector was the fourth
largest contributor to Malaysia’s economy, accounting for RM 53 billion (USD 16.8 billion)
of Malaysia’s Gross National Income (GNI).
Based on the Malay Mail Online, the article stated that in 2020 average monthly household
targeted income is at RM 10,00.00. According to Prime Minister Datuk Seri Najib Razak, the
average monthly household income is targeted to increase from RM6,141 in 2014 to
RM10,540 in 2020. Other than that, the government also aim to grow the country’s gross
domestic product (GDP) by five to six per cent annually. The executive summary of the 11th
Malaysia Plan expected the labour productivity to increase through the continuous shift from
labour-intensive economic activities to knowledge and innovation-intensive. All sectors of