Year 2009 is considered as a very challenging year for all country in the world. The first half of 2009 is expected to be a very tough period for Malaysia. The GDP (gross domestic product) for Malaysia country is expected to drop by 5.1% due to poor demand for Malaysian exports. Even Malaysia is the main exporter of oil and gas and also has large commodity exports. But, the prices of those commodities have fallen since last year.
If based on a month-to-month comparison, we can’t deny that Malaysian exports to all its main trading partners have increased, the Asian region (6%), China (14%), the United States (10%) and the European Union (10%). However, it show different story for year-on-year comparisons.
Based on what I known, Asia country still suffering the major impact of the global economic recession. According to the World Economic Forum Global Competitiveness Report for the year 2009-2010, Malaysia drops to 3 positions and ranked 24th in the global competitiveness ranking. So, when only can see the positive growth of Malaysia economic?
Switzerland is the top ranked of 133 economies, while the US ranked 2nd position. Asia’s Economic Giant – Singapore ranked 3rd position while Japan at 8th and Hong Kong, South Korea and Taiwan all in the top 20.
What’s My Opinion On Malaysia?