At
independence, Malaysia inherited an economy dominated by two
commodities-rubber and tin. Since then Malaysia's economic record has
been exemplary. From the early 1980s through the mid-1990s, the economy
experienced a period of broad diversification and sustained rapid growth
averaging almost 8% annually. Malaysia is world's largest rubber producer. The oil palm is another important contributor to the economy. Malaysia's forest resources have made her the world's second largest timber exporter. Agriculture remains an important sector of the economy with rice, pineapples and citrus fruits, pepper and cocoa among the significant crops.
Manufacturing has grown in importance. Among goods produced are electronic products, chemicals, textiles and processed food. It is one of the largest exporters of semiconductor devices in the world.
Tourism is an increasingly important contributor to the economy. The rich environment of the rain forest is a major attraction for the growing ecotourism market.
Major industries: Rubber and palm oil processing, light manufacturing industry, electronics, tin mining and smelting, petroleum production and refining, agriculture processing, logging and timber processing.
Agricultural products: Rubber, palm oil, rice, coconut, pepper, citrus fruits and cocoa.