Malaysia: Asian Development Bank Member Fact Sheet 2017

Abstract

Malaysia has transformed itself from a nation reliant on natural resources into a middle-income country in which services account for half of total output. This development success was refl ected in Malaysia ranking 37th of 127 countries on the Global Innovation Index 2017. While the country has experienced some economic slowdown over the past few years, its economy recovered faster than expected in 2017, with growth driven by strong global and domestic demand. For an economy that is dependent on external factors, macroeconomic stability is crucial to Malaysia’s sustained growth. The Government of Malaysia is continuing eff orts to boost domestic demand and reduce the country’s dependence on exports, with a pipeline of large infrastructure projects expected to stimulate both public and private investment.