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Malaysia economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Malaysia ranked 38/197 by economy size with a GDP of $422B and 79/197 by GDP per capita at $11,874. Malaysia has $296B in government debt, with a debt-to-GDP ratio of 70.1%.

In 2024, Malaysia made up 0.38% of the world's economy, compared to 0.14% in 1960.

Malaysia GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $422,227,005,429 5.11%
2023 $399,949,418,753 3.54%
2022 $407,830,525,990 9.03%
2021 $373,784,553,030 3.32%
2020 $337,456,163,961 -5.46%
2019 $365,177,721,022 4.41%
2018 $358,788,845,713 4.84%
2017 $319,109,094,160 5.81%
2016 $301,256,033,870 4.45%
2015 $301,355,266,965 5.09%
2014 $338,066,095,097 6.01%
2013 $323,276,235,524 4.69%
2012 $314,443,047,642 5.47%
2011 $297,951,668,675 5.29%
2010 $255,017,638,456 7.42%
2009 $202,257,453,037 -1.51%
2008 $230,811,614,370 4.83%
2007 $193,549,569,478 6.3%
2006 $162,692,258,307 5.58%
2005 $143,534,405,819 5.33%
2004 $124,749,473,684 6.78%
2003 $110,202,368,421 5.79%
2002 $100,845,526,316 5.39%
2001 $92,783,947,368 0.52%
2000 $93,789,736,842 8.86%
1999 $79,148,421,053 6.14%
1998 $72,167,498,981 -7.36%
1997 $100,005,323,302 7.32%
1996 $100,855,393,910 10%
1995 $88,705,342,903 9.83%
1994 $74,478,356,958 9.21%
1993 $66,894,966,969 9.89%
1992 $59,167,550,163 8.89%
1991 $49,143,148,094 9.55%
1990 $44,024,585,240 9.01%
1989 $38,847,965,293 9.06%
1988 $35,272,109,220 9.94%
1987 $32,181,210,158 5.19%
1986 $27,734,111,400 1.24%
1985 $31,199,633,353 -1.03%
1984 $33,942,897,422 7.76%
1983 $30,347,442,111 6.25%
1982 $26,804,493,635 5.94%
1981 $25,004,285,792 6.94%
1980 $24,488,224,677 7.44%
1979 $21,213,264,962 9.35%
1978 $16,358,079,862 6.65%
1977 $13,139,488,633 7.75%
1976 $11,050,234,599 11.6%
1975 $9,298,800,799 0.8%
1974 $9,496,204,302 8.32%
1973 $7,662,902,678 11.7%
1972 $5,043,347,250 9.39%
1971 $4,244,395,956 10%
1970 $3,864,145,667 5.99%
1969 $3,664,552,041 4.89%
1968 $3,330,371,551 7.98%
1967 $3,188,924,677 3.86%
1966 $3,143,517,944 7.82%
1965 $2,956,337,669 7.68%
1964 $2,674,423,922 5.36%
1963 $2,510,110,348 7.34%
1962 $2,001,489,602 6.42%
1961 $1,901,856,123 7.6%
1960 $1,916,229,477 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia | CC BY

Malaysia GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $11,874 $38,779
2023 $11,386 $36,467
2022 $11,755 $34,420
2021 $10,903 $29,823
2020 $9,958 $27,475
2019 $10,920 $28,934
2018 $10,902 $27,794
2017 $9,863 $26,416
2016 $9,477 $25,286
2015 $9,649 $24,526
2014 $11,013 $24,307
2013 $10,714 $23,161
2012 $10,601 $22,639
2011 $10,217 $21,324
2010 $8,899 $20,193
2009 $7,191 $18,923
2008 $8,372 $19,480
2007 $7,169 $18,617
2006 $6,158 $17,426
2005 $5,556 $16,371
2004 $4,939 $15,416
2003 $4,465 $14,387
2002 $4,184 $13,656
2001 $3,944 $13,072
2000 $4,084 $13,027
1999 $3,528 $11,980
1998 $3,294 $11,398
1997 $4,679 $12,469
1996 $4,837 $11,709
1995 $4,363 $10,720
1994 $3,758 $9,806
1993 $3,462 $9,018
1992 $3,141 $8,224
1991 $2,679 $7,583
1990 $2,469 $6,887
1989 $2,244 -
1988 $2,100 -
1987 $1,977 -
1986 $1,760 -
1985 $2,046 -
1984 $2,300 -
1983 $2,124 -
1982 $1,938 -
1981 $1,866 -
1980 $1,886 -
1979 $1,680 -
1978 $1,327 -
1977 $1,092 -
1976 $940 -
1975 $811 -
1974 $848 -
1973 $701 -
1972 $472 -
1971 $407 -
1970 $380 -
1969 $368 -
1968 $342 -
1967 $335 -
1966 $339 -
1965 $326 -
1964 $303 -
1963 $291.8 -
1962 $238.8 -
1961 $232.9 -
1960 $240.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia | CC BY

Malaysia has a GDP per capita of $11,874, ranking 79/197, a GDP per capita based on purchasing power parity (PPP) of $38,779, ranking 60/197, and a median annual after tax income of $11,005, ranking 70/197.

Malaysia GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 38 74 54
2023 39 78 56
2022 38 72 56
2021 40 68 57
2020 40 68 53
2019 36 68 56
2018 36 71 56
2017 39 72 55
2016 40 68 54
2015 39 68 54
2014 35 69 56
2013 35 71 55
2012 36 71 56
2011 36 70 56
2010 37 69 56
2009 42 75 59
2008 41 72 58
2007 40 72 58
2006 39 69 58
2005 42 68 55
2004 40 70 52
2003 39 69 52
2002 37 64 52
2001 42 70 54
2000 43 66 53
1999 43 71 52
1998 45 75 51
1997 39 58 48
1996 37 57 47
1995 38 58 47
1994 37 61 48
1993 35 60 51
1992 39 61 54
1991 43 68 58
1990 46 71 66
1989 48 69 -
1988 47 70 -
1987 49 68 -
1986 45 68 -
1985 41 61 -
1984 40 60 -
1983 42 61 -
1982 44 67 -
1981 45 71 -
1980 44 67 -
1979 44 67 -
1978 47 68 -
1977 50 67 -
1976 49 67 -
1975 52 67 -
1974 50 66 -
1973 48 61 -
1972 51 70 -
1971 51 69 -
1970 51 69 -
1969 50 54 -
1968 50 53 -
1967 48 54 -
1966 45 51 -
1965 45 52 -
1964 46 53 -
1963 45 52 -
1962 46 59 -
1961 47 57 -
1960 47 55 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia | CC BY

Compared with 2000, in 2024 Malaysia is ranked 38th out of 182 by GDP (up from 43rd), 74th by GDP per capita (down from 66th), and 54th by GDP per capita PPP (down from 53rd).

Economic indicators

Malaysia Rank
Gross domestic product
$422B
2024
38/197
GDP growth
5.11%
2023-2024
35/194
GDP per capita
$11,874
2024
79/197
GDP per capita, PPP
$38,779
2024
60/197
Government debt
$296B
2024
32/185
Debt-to-GDP ratio
70.1%
2024
58/185
Government debt per person
$8,322
2024
62/185
Average annual personal income after taxes
$11,005
2026
70/197
Listed domestic companies
1,031
2024
9/103
Market capitalization of domestic companies
$449B
2024
23/100
Number of billionaires
19
2025
24/78
Billionaire frequency
1 in 1,315,935
2025
36/78
Income share by richest 10%
30.9%
2021
50/169
Income share by poorest 10%
2.3%
2021
116/169
Government expenditure, % of GDP
23.9%
2024
128/195
Consumer prices inflation
1.83%
2023-2024
144/195
Central bank interest rate
2.75%
2025
88/106
Unemployment rate
3.93%
2022
131/196
Population
36512221
44/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 23.9% 70.1% -3.95%
2023 24.9% 69.7% -3.97%
2022 24.6% 65.5% -4.56%
2021 24.5% 69.2% -6.03%
2020 25% 67.7% -4.9%
2019 23.6% 57.1% -2.01%
2018 22.8% 55.6% -2.64%
2017 22% 54.4% -2.41%
2016 22.9% 55.8% -2.6%
2015 24.7% 57% -2.55%
2014 26% 55.4% -2.63%
2013 27.8% 55.7% -3.48%
2012 28.5% 53.8% -3.1%
2011 27.1% 51.9% -3.57%
2010 26.6% 51.2% -4.32%
2009 30.9% 50.4% -5.88%
2008 26.9% 39.4% -3.4%
2007 25.9% 39.3% -2.57%
2006 25.6% 39.7% -2.6%
2005 24.5% 40.8% -2.83%
2004 25.9% 42% -3.35%
2003 28.1% 41.4% -4.6%
2002 27.1% 39.5% -3.96%
2001 28.2% 38.1% -4.36%
2000 25.6% 32.5% -6.05%
1999 24.6% 34.4% -3%
1998 23.1% 33.6% -0.63%
1997 21.2% 29.6% 4.84%
1996 22.4% 32.8% 3.27%
1995 22.6% 38.2% 3.1%
1994 23.3% 43.7% 5.45%
1993 24.6% 51.1% 3.44%
1992 28.2% 59.1% 1.81%
1991 27.4% 67.3% 1.6%
1990 30.5% 74.1% 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malaysia | CC BY

This chart shows Malaysia's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 35 years, Malaysia recorded a fiscal deficit in 27 of them, with an average annual deficit equal to 2.07% of GDP. In 2024, government spending reached $101B (23.9% of GDP), with a deficit of 3.95%.

The national debt reached $296B, ranking 32nd out of 185 countries by total size, with a debt-to-GDP ratio of 70.1%, ranking 58th.

Inflation rate by year

1x
Year Inflation
2024 1.83%
2023 2.49%
2022 3.38%
2021 2.48%
2020 -1.14%
2019 0.66%
2018 0.88%
2017 3.87%
2016 2.09%
2015 2.1%
2014 3.14%
2013 2.11%
2012 1.66%
2011 3.17%
2010 1.62%
2009 0.58%
2008 5.44%
2007 2.03%
2006 3.61%
2005 2.98%
2004 1.42%
2003 1.09%
2002 1.81%
2001 1.42%
2000 1.53%
1999 2.74%
1998 5.27%
1997 2.66%
1996 3.49%
1995 3.45%
1994 3.72%
1993 3.54%
1992 4.77%
1991 4.36%
1990 2.62%
1989 2.81%
1988 2.56%
1987 0.29%
1986 0.74%
1985 0.35%
1984 3.9%
1983 3.7%
1982 5.82%
1981 9.7%
1980 6.67%
1979 3.65%
1978 4.86%
1977 4.79%
1976 2.63%
1975 4.49%
1974 17.3%
1973 10.6%
1972 3.23%
1971 1.61%
1970 1.84%
1969 -0.41%
1968 -0.16%
1967 4.58%
1966 0.97%
1965 -0.11%
1964 -0.4%
1963 3.11%
1962 0.11%
1961 -0.18%
1960 0.06%

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia | CC BY

Over the past 20 years, Malaysia has had an average annual inflation rate of 2.25%. In 2024, inflation was 1.83%. The bar chart above shows consumer price inflation by year.

Balance of trade

Malaysia Rank
Current account balance
$7.15B
2024
26/190
Current account balance, % of GDP
+1.69%
2024
60/190
Goods imports
$223B
2024
26/189
Goods exports
$248B
2024
28/189
Service imports
$56.4B
2024
31/189
Service exports
$53.4B
2024
32/189
Imports of goods and services, % of GDP
66%
2024
44/181
Exports of goods and services, % of GDP
71.3%
2024
27/193

Malaysia top 10 trading partners

Malaysia's biggest trading partner accounting for 17.4% of all exports and imports is China, with a trade balance between the two of -$26.4B: Malaysia exports $42.3B worth of goods and services to China and imports $68.7B.

Below is the list of the top 10 trade partners of Malaysia.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 China $111B 17.4% $42.3B $68.7B Machinery & equipment Machinery & equipment
2 Singapore $101B 15.8% $58.4B $42.3B Machinery & equipment Machinery & equipment
3 United States $92.4B 14.5% $51.9B $40.5B Machinery & equipment Machinery & equipment
4 Japan $36.3B 5.67% $19B $17.3B Raw materials & minerals Machinery & equipment
5 Indonesia $28.1B 4.4% $13.5B $14.7B Raw materials & minerals Raw materials & minerals
6 Thailand $27.7B 4.33% $13.7B $14B Machinery & equipment Machinery & equipment
7 South Korea $25.7B 4.03% $12.3B $13.4B Machinery & equipment Machinery & equipment
8 India $20.1B 3.14% $12.3B $7.8B Machinery & equipment Raw materials & minerals
9 Australia $19.9B 3.12% $11.8B $8.18B Raw materials & minerals Raw materials & minerals
10 Vietnam $19.1B 3% $12.2B $6.89B Machinery & equipment Machinery & equipment

Top 10 exports

Malaysia Rank
Machinery & equipment $173B 13/193
Raw materials & minerals $59.7B 21/193
Processed food, beverages & tobacco $28.3B 13/192
Chemicals & pharma $24.5B 25/193
Transport & tourism services $22.3B 29/188
Metals $20.7B 22/192
Textiles & consumer goods $10.3B 28/193
Business & finance services $8.31B 35/188
Manufacturing & construction services $6.5B 15/164
Wood & paper products $5.3B 24/192

Top 10 imports

Malaysia Rank
Machinery & equipment $144B 18/193
Raw materials & minerals $61.6B 15/193
Transport & tourism services $25.4B 29/188
Chemicals & pharma $24.6B 31/193
Metals $22B 19/193
Business & finance services $13.8B 32/188
Processed food, beverages & tobacco $13.4B 17/193
Textiles & consumer goods $10.1B 34/193
Precious metals & jewellery $7.32B 20/193
Raw agricultural goods $7.23B 25/193

Economic freedom indices

Malaysia Rank
Economic freedom 68 51/197
Property rights 62.7 64/182
Government integrity 52.9 58/182
Judicial effectiveness 63.4 56/182
Tax burden 83.5 66/182
Government spending 82 59/180
Fiscal health 62.5 114/181
Business freedom 79.6 32/182
Labor freedom 55.4 99/182
Monetary freedom 80.8 14/180
Trade freedom 83 14/181
Investment freedom 60 76/181
Financial freedom 50 90/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 68 63.4 83.5 82 62.5
2025 67.1 66.2 83.9 82.1 48.1
2024 65.7 65.6 83.9 81.4 42.8
2023 67.3 51.6 83.9 82.4 64.5
2022 68.1 57.6 83.8 82.9 73.4
2021 74.4 70.5 83.8 84.3 79.4
2020 74.7 74.6 85.7 84.6 80.2
2019 74 68.2 85.6 83.2 82.4
2018 74.5 65.2 85.6 81.3 80.7
2017 73.8 67.3 85.3 78.7 76.5
2016 71.5 - 85 74.3 -
2015 70.8 - 84.4 74 -
2014 69.6 - 84.6 75.6 -
2013 66.1 - 85.1 73.5 -
2012 66.4 - 84.5 72.5 -
2011 66.3 - 84.6 79.2 -
2010 64.8 - 84.3 81.3 -
2009 64.6 - 83 81.4 -
2008 63.9 - 82.2 80.8 -
2007 63.8 - 81.8 78.9 -
2006 61.6 - 81.2 75.1 -
2005 61.9 - 80.9 75.3 -
2004 59.9 - 80.9 74.2 -
2003 61.1 - 81.8 82.9 -
2002 60.1 - 81.5 84.1 -
2001 60.2 - 80.6 85.5 -
2000 66 - 79.2 81.3 -
1999 68.9 - 79.4 84.7 -
1998 68.2 - 76.8 85.3 -
1997 66.8 - 76.6 83.6 -
1996 69.9 - 76.7 82.7 -
1995 71.9 - 74.1 78.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/malaysia | CC BY

Malaysia is ranked 45/174 for economic freedom with a score of 68, compared to 64/162 and a score of 61.6 in 2006.

Other economic metrics

Malaysia Rank
Services, % of GDP
53.7%
2024
113/191
Industry, % of GDP
37%
2024
26/194
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
83/193
GNI, Atlas method
$414B
2024
38/194
GNI per capita, PPP
$37,450
2024
56/191
Total reserves including gold
$116B
2024
24/177
Net foreign direct investment
-$2.55B
2024
145/189
Net inflows of foreign direct investment
$15.6B
2024
25/193
Net outflows of foreign direct investment
$13B
2024
24/193
Poverty at national poverty lines
5.8%
2023
165/176
Gross capital formation, % of GDP
22%
2024
101/178

Compare Malaysia vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/malaysia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.