Category FAQs Search : Commerce
Question: What sectors are driving Malaysia’s economic growth?
Answer: Malaysia’s economy is driven by the services and manufacturing sectors, making up 59.2% and 23.4% of the country’s GDP respectively as of 2023. Once reliant on agriculture and primary commodities in the 1960s, the Malaysian economy has since transformed into an export-driven and diversified economy, where knowledge, innovation and productivity are central to value creation.
Leveraging on the existing strong manufacturing and services base, Malaysia aims to pursue the next phase of industrial transformation via the introduction of NIMP 2030. Within manufacturing, Malaysia aspires to advance its capabilities in areas such advanced electronics and green industries. This will be strongly complemented by a highly dynamic and knowledge-intensive services sector, including digitalisation, research and development (R&D) finance and business services.
Capitalising on emerging shifts in global trends, digitalisation and ESG considerations, Malaysia also intends to broaden its growth potential in new areas of advanced materials, electric vehicles (EVs), renewable energy and carbon capture, utilisation and storage (CCUS).
(Source: Invest Malaysia, 03 May 2025)
Source Link: https://www.investmalaysia.gov.my/invest-in-malaysia/diversified-sectors/