About
Malaysia
Country Facts
Capital : Kuala Lumpur
Population : 31.95 Million
Language : Bahasa Malaysia , English , Chinese , Tamil , Telugu , Malayalam , Panjabi , Thai
Industries : Peninsular Malaysia - rubber and oil palm processing and manufacturing , petroleum and natural gas , light manufacturing , pharmaceuticals , medical technology , electronics and semiconductors , timber processing ; Sabah - logging , petroleum and natural gas production ; Sarawak - agriculture processing , petroleum and natural gas production , logging
GDP ( US $ billion ): 336.7
Natural Resources : tin , petroleum , timber , copper , iron ore , natural gas , bauxite
Major Exports : Semiconductors and electronic equipment , petroleum and liquefied natural gas , wood and wood products , palm oil , rubber , textiles , chemicals , solar panels
Major Imports : Electronics , machinery , petroleum products , plastics , vehicles , iron and steel products , chemicals
Contact the British Malaysian Chamber of Commerce :
Decades of growth and stability have helped make Malaysia an industrialised , relatively open economy with consistent growth ( IMF , 2019 ). Despite the impact of the Covid-19 pandemic , Malaysia continues to offers opportunities across a wide range of sectors for UK exporters as demand picks up for a variety of goods and services .
Young and growing population
Malaysia has a young and growing population of over 30 million consumers ( World Bank , 2018 ). An increasingly affluent middle class is willing to pay for quality . Malaysian society is multi-cultural and multi-lingual , but English is the business language and is widely spoken -particularly in metropolitan areas .
Respect for British brands
British brands are well respected in the market . Competition can be tough and price is a big factor in decision making , but companies like BAE Systems , BP , Prudential , Sports Direct and Unipart are already selling in Malaysia .
Gateway to South East Asia
Malaysia is part of the Association of Southeast Asian Nations ( ASEAN ), which includes Singapore , Indonesia Thailand and Vietnam . These 5 core countries represent the UK ’ s second-largest global export destination after the United States . As a region , ASEAN is predicted to become the world ’ s fourth largest market by 2030 ( Baroness Fairhead CBE , 2018 ).