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Economy of Malaysia vs United States compared: GDP & Debt

Updated on by Georank

Malaysia has a GDP of $472B compared to $30.8T for the United States, ranking 35/197 and 1/197 by economy size, respectively.

Malaysia has $334B in government debt (70.7% of GDP), compared to $38.1T (123.9% of GDP) in the United States.

Malaysia vs United States GDP by year

Malaysia
United States
1x
Year GDP, current $
Malaysia United States
2025 $472,193,128,645 $30,769,700,000,000
2024 $422,227,005,429 $29,298,013,000,000
2023 $399,949,418,753 $27,811,517,000,000
2022 $407,830,525,990 $26,054,614,000,000
2021 $373,784,553,030 $23,725,645,000,000
2020 $337,456,163,961 $21,375,281,000,000
2019 $365,177,721,022 $21,539,982,000,000
2018 $358,788,845,713 $20,656,516,000,000
2017 $319,109,094,160 $19,612,102,000,000
2016 $301,256,033,870 $18,804,913,000,000
2015 $301,355,266,965 $18,295,019,000,000
2014 $338,066,095,097 $17,608,138,000,000
2013 $323,276,235,524 $16,880,683,000,000
2012 $314,443,047,642 $16,253,970,000,000
2011 $297,951,668,675 $15,599,732,000,000
2010 $255,017,638,456 $15,048,971,000,000
2009 $202,257,453,037 $14,478,067,000,000
2008 $230,811,614,370 $14,769,862,000,000
2007 $193,549,569,478 $14,474,228,000,000
2006 $162,692,258,307 $13,815,583,000,000
2005 $143,534,405,819 $13,039,197,000,000
2004 $124,749,473,684 $12,217,196,000,000
2003 $110,202,368,421 $11,456,450,000,000
2002 $100,845,526,316 $10,929,108,000,000
2001 $92,783,947,368 $10,581,929,000,000
2000 $93,789,736,842 $10,250,952,000,000
1999 $79,148,421,053 $9,631,172,000,000
1998 $72,167,498,981 $9,062,817,000,000
1997 $100,005,323,302 $8,577,552,000,000
1996 $100,855,393,910 $8,073,122,000,000
1995 $88,705,342,903 $7,639,749,000,000
1994 $74,478,356,958 $7,287,236,000,000
1993 $66,894,966,969 $6,858,559,000,000
1992 $59,167,550,163 $6,520,327,000,000
1991 $49,143,148,094 $6,158,129,000,000
1990 $44,024,585,240 $5,963,144,000,000
1989 $38,847,965,293 $5,641,580,000,000
1988 $35,272,109,220 $5,236,438,000,000
1987 $32,181,210,158 $4,855,215,000,000
1986 $27,734,111,400 $4,579,631,000,000
1985 $31,199,633,353 $4,338,979,000,000
1984 $33,942,897,422 $4,037,613,000,000
1983 $30,347,442,111 $3,634,038,000,000
1982 $26,804,493,635 $3,343,789,000,000
1981 $25,004,285,792 $3,207,041,000,000
1980 $24,488,224,677 $2,857,307,000,000
1979 $21,213,264,962 $2,627,333,000,000
1978 $16,358,079,862 $2,351,599,000,000
1977 $13,139,488,633 $2,081,826,000,000
1976 $11,050,234,599 $1,873,412,000,000
1975 $9,298,800,799 $1,684,904,000,000
1974 $9,496,204,302 $1,545,243,000,000
1973 $7,662,902,678 $1,425,376,000,000
1972 $5,043,347,250 $1,279,110,000,000
1971 $4,244,395,956 $1,164,850,000,000
1970 $3,864,145,667 $1,073,303,000,000
1969 $3,664,552,041 $1,017,438,172,414
1968 $3,330,371,551 $940,225,000,000
1967 $3,188,924,677 $859,620,034,483
1966 $3,143,517,944 $813,032,758,621
1965 $2,956,337,669 $741,904,862,069
1964 $2,674,423,922 $684,144,620,690
1963 $2,510,110,348 $637,058,551,724
1962 $2,001,489,602 $603,639,413,793
1961 $1,901,856,123 $561,940,310,345
1960 $1,916,229,477 $541,988,586,207

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

GDP per capita in Malaysia vs United States by year

Malaysia
GDP per capita

GDP per capita, PPP
United States
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia United States
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $13,125 - $90,027 -
2024 $11,874 $38,779 $86,143 $85,810
2023 $11,386 $36,467 $83,041 $82,305
2022 $11,755 $34,420 $78,178 $77,861
2021 $10,903 $29,823 $71,486 $71,307
2020 $9,958 $27,475 $64,475 $64,402
2019 $10,920 $28,934 $65,605 $65,228
2018 $10,902 $27,794 $63,201 $62,876
2017 $9,863 $26,416 $60,322 $60,048
2016 $9,477 $25,286 $58,207 $57,977
2015 $9,649 $24,526 $57,040 $56,849
2014 $11,013 $24,307 $55,304 $55,153
2013 $10,714 $23,161 $53,410 $53,297
2012 $10,601 $22,639 $51,784 $51,708
2011 $10,217 $21,324 $50,066 $50,025
2010 $8,899 $20,193 $48,651 $48,643
2009 $7,191 $18,923 $47,195 $47,195
2008 $8,372 $19,480 $48,570 $48,570
2007 $7,169 $18,617 $48,050 $48,050
2006 $6,158 $17,426 $46,302 $46,302
2005 $5,556 $16,371 $44,123 $44,123
2004 $4,939 $15,416 $41,725 $41,725
2003 $4,465 $14,387 $39,490 $39,490
2002 $4,184 $13,656 $37,998 $37,998
2001 $3,944 $13,072 $37,134 $37,134
2000 $4,084 $13,027 $36,330 $36,330
1999 $3,528 $11,980 $34,484 $34,515
1998 $3,294 $11,398 $32,823 $32,854
1997 $4,679 $12,469 $31,430 $31,459
1996 $4,837 $11,709 $29,937 $29,968
1995 $4,363 $10,720 $28,661 $28,691
1994 $3,758 $9,806 $27,662 $27,695
1993 $3,462 $9,018 $26,353 $26,387
1992 $3,141 $8,224 $25,381 $25,419
1991 $2,679 $7,583 $24,293 $24,342
1990 $2,469 $6,887 $23,840 $23,889
1989 $2,244 - $22,857 -
1988 $2,100 - $21,417 -
1987 $1,977 - $20,039 -
1986 $1,760 - $19,071 -
1985 $2,046 - $18,237 -
1984 $2,300 - $17,121 -
1983 $2,124 - $15,544 -
1982 $1,938 - $14,434 -
1981 $1,866 - $13,976 -
1980 $1,886 - $12,613 -
1979 $1,680 - $11,674 -
1978 $1,327 - $10,565 -
1977 $1,092 - $9,453 -
1976 $940 - $8,592 -
1975 $811 - $7,801 -
1974 $848 - $7,226 -
1973 $701 - $6,726 -
1972 $472 - $6,094 -
1971 $407 - $5,609 -
1970 $380 - $5,234 -
1969 $368 - $5,020 -
1968 $342 - $4,685 -
1967 $335 - $4,326 -
1966 $339 - $4,136 -
1965 $326 - $3,818 -
1964 $303 - $3,565 -
1963 $291.8 - $3,366 -
1962 $238.8 - $3,236 -
1961 $232.9 - $3,059 -
1960 $240.8 - $3,000 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08); U.S. Census Bureau (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

Malaysia's GDP per capita is $13,125, ranking 78/197, compared to $90,027 in the United States, ranking 10/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while the United States ranks 12th at $85,810.

Economic indicators

Malaysia United States
Gross domestic product
$472B
2025
$30.8T
2025
GDP rank
35/197
2025
1/197
2025
GDP growth
5.17%
2024-2025
2.16%
2024-2025
GDP per capita
$13,125
2025
$90,027
2025
GDP per capita rank
78/197
2025
10/197
2025
GDP per capita, PPP
$38,779
2024
$85,810
2024
GDP per capita PPP rank
60/197
2024
12/197
2024
Government debt
$334B
2025
$38.1T
2025
Debt-to-GDP ratio
70.7%
2025
123.9%
2025
Government debt per person
$9,273
2025
$111,531
2025
Government debt per person rank
62/185
2025
2/185
2025
Average annual personal income after taxes
$11,034
2026
$54,600
2026
Market capitalization of domestic companies
$487B
2025
$68.9T
2025
Number of millionaires n/a
23,627,000
2026
Number of billionaires
19
2026
989
2026
Income share by richest 10%
30.9%
2021
30.7%
2024
Income share by poorest 10%
2.3%
2021
1.7%
2024
Government expenditure, % of GDP
23.4%
2025
37.7%
2025
Consumer prices inflation
1.38%
2024-2025
2.95%
2023-2024
Central bank interest rate
2.75%
2025
3.75%
2025
Unemployment rate
3.9%
2022
4.28%
2025
Population
36600906
344434632

Spending and national debt comparison by year

Malaysia
Spending

Debt
United States
Spending

Debt
1x
Year % of GDP
Malaysia United States
Government spending Government debt Government spending Government debt
2025 23.4% 70.7% 37.7% 123.9%
2024 24% 69.8% 37.7% 122.3%
2023 25% 69.7% 37.5% 120%
2022 24.6% 65.5% 36.8% 119.1%
2021 24.5% 69.2% 43.2% 125%
2020 25% 67.7% 44.7% 132.6%
2019 23.6% 57.1% 35.8% 108.8%
2018 22.8% 55.6% 35.3% 107.7%
2017 22% 54.4% 35.2% 106.4%
2016 22.9% 55.8% 35.3% 107.4%
2015 24.7% 57% 35% 105.4%
2014 26% 55.4% 35.3% 104.9%
2013 27.8% 55.7% 35.8% 105%
2012 28.5% 53.8% 37.2% 103.7%
2011 27.1% 51.9% 38.8% 100%
2010 26.6% 51.2% 39.8% 95.7%
2009 30.9% 50.4% 41.4% 87.1%
2008 26.9% 39.4% 37.1% 73.8%
2007 25.9% 39.3% 34.6% 64.9%
2006 25.6% 39.7% 33.7% 64.5%
2005 24.5% 40.8% 33.9% 65.8%
2004 25.9% 42% 33.7% 66.4%
2003 28.1% 41.4% 34% 59%
2002 27.1% 39.5% 33.7% 55.9%
2001 28.2% 38.1% 32.8% 53.5%
2000 25.6% 32.5% 31.7% 54.5%
1999 24.6% 34.4% 32.2% 60.5%
1998 23.1% 33.6% 32.8% 64.2%
1997 21.2% 29.6% 33.7% 67.4%
1996 22.4% 32.8% 34.7% 69.9%
1995 22.6% 38.2% 35.5% 70.7%
1994 23.3% 43.7% 35.5% 71.1%
1993 24.6% 51.1% 36.4% 71.9%
1992 28.2% 59.1% 36.7% 70.3%
1991 27.4% 67.3% 35.7% 67.9%
1990 30.5% 74.1% 34.5% 63.1%
1989 - - 33.7% 61.6%
1988 - - 33.7% 61.3%
1987 - - 34.3% 60.6%
1986 - - 34.8% 58.9%
1985 - - 34.5% 55.4%
1984 - - 34.3% 50.6%
1983 - - 35.7% 48.9%
1982 - - 35.8% 45.9%
1981 - - 33.9% 41.1%
1980 - - 33.7% 41.9%
1979 - - 32% 41.2%
1978 - - 32.6% 42.5%
1977 - - 33.4% 43.6%
1976 - - 34.2% 44.8%
1975 - - 35.2% 44.6%
1974 - - 32.9% 41.4%
1973 - - 31.9% 42.6%
1972 - - 32.8% 45.4%
1971 - - 32.3% 47%
1970 - - 31.5% 46.4%
1969 - - 29.3% 45.9%
1968 - - 29.1% 48.5%
1967 - - 28.3% 50.4%
1966 - - 26.3% 50.6%
1965 - - 25.4% 53.7%
1964 - - 25.6% 56.7%
1963 - - 26% 58.8%
1962 - - 26% 60.2%
1961 - - 25.9% 62.3%
1960 - - 24.9% 61.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–2000, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

In 2025, Malaysia's government spending was $111B, accounting for 23.4% of its GDP, while the United States spent $11.6T, or 37.7% of GDP.

Debt-to-GDP ratio is 70.7% in Malaysia and 123.9% in the United States, ranking 56/185 and 12/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

United States
1x
Year Deficit/surplus, % of GDP
Malaysia United States
2025 -3.54% -6.82%
2024 -3.45% -7.86%
2023 -4.11% -7.89%
2022 -4.56% -3.72%
2021 -6.03% -11.5%
2020 -4.9% -14.1%
2019 -2.01% -5.81%
2018 -2.64% -5.33%
2017 -2.41% -4.79%
2016 -2.6% -4.36%
2015 -2.55% -3.53%
2014 -2.63% -4.03%
2013 -3.48% -4.56%
2012 -3.1% -8.11%
2011 -3.57% -9.72%
2010 -4.32% -11%
2009 -5.88% -13.2%
2008 -3.4% -6.61%
2007 -2.57% -2.91%
2006 -2.6% -2.04%
2005 -2.83% -3.07%
2004 -3.35% -4.24%
2003 -4.6% -4.77%
2002 -3.96% -3.82%
2001 -4.36% -0.54%
2000 -6.05% 3.62%
1999 -3% 2.71%
1998 -0.63% 2.18%
1997 4.84% 0.88%
1996 3.27% -0.46%
1995 3.1% -1.7%
1994 5.45% -2.05%
1993 3.44% -3.35%
1992 1.81% -3.98%
1991 1.6% -2.72%
1990 0.15% -1.64%
1989 - -0.8%
1988 - -1.06%
1987 - -1.53%
1986 - -2.81%
1985 - -2.63%
1984 - -2.97%
1983 - -4.26%
1982 - -3.78%
1981 - -1.58%
1980 - -2.17%
1979 - -0.79%
1978 - -1.7%
1977 - -2.57%
1976 - -3.63%
1975 - -5.4%
1974 - -1.27%
1973 - -0.86%
1972 - -1.86%
1971 - -2.63%
1970 - -1.21%
1969 - 2.11%
1968 - 1.23%
1967 - 0.47%
1966 - 2.07%
1965 - 2.38%
1964 - 2.18%
1963 - 2.87%
1962 - 2.32%
1961 - 2.28%
1960 - 3.2%
1959 - -9.06%
1958 - -8.68%
1957 - -6.72%
1956 - -6.02%
1955 - -7.4%
1954 - -5.55%
1953 - -5.76%
1952 - -5.41%
1951 - -6.93%
1950 - -8.22%
1949 - -7.94%
1948 - -4.16%
1947 - -3.99%
1946 - -6.45%
1945 - -14.1%
1944 - -13.4%
1943 - -19.3%
1942 - -16.3%
1941 - -10.2%
1940 - -9.73%
1939 - -11.9%
1938 - -10.4%
1937 - -9.22%
1936 - -12.1%
1935 - -13.3%
1934 - -14.9%
1933 - -14.3%
1932 - -12.7%
1931 - -9.76%
1930 - -5.46%
1929 - -4.58%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1929–2000, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

In 2025, Malaysia's government deficit, the difference between spending and revenue, was $16.7B, equivalent to 3.54% of GDP. This compares to the United States' deficit of $2.1T, or 6.82% of GDP.

Over the past 36 years, Malaysia recorded a fiscal deficit in 28 of those years, while the United States ran a deficit in 32 years. On average, Malaysia posted an annual deficit equal to 2.1% of GDP, compared to deficit of 4.47% of GDP for the United States.

Inflation comparison by year

Inflation
Malaysia

United States
1x
Year Consumer prices inflation
Malaysia United States
2025 1.38% -
2024 1.83% 2.95%
2023 2.49% 4.12%
2022 3.38% 8%
2021 2.48% 4.7%
2020 -1.14% 1.23%
2019 0.66% 1.81%
2018 0.88% 2.44%
2017 3.87% 2.13%
2016 2.09% 1.26%
2015 2.1% 0.12%
2014 3.14% 1.62%
2013 2.11% 1.46%
2012 1.66% 2.07%
2011 3.17% 3.16%
2010 1.62% 1.64%
2009 0.58% -0.36%
2008 5.44% 3.84%
2007 2.03% 2.85%
2006 3.61% 3.23%
2005 2.98% 3.39%
2004 1.42% 2.68%
2003 1.09% 2.27%
2002 1.81% 1.59%
2001 1.42% 2.83%
2000 1.53% 3.38%
1999 2.74% 2.19%
1998 5.27% 1.55%
1997 2.66% 2.34%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 2.52% in the United States. In 2024, inflation was 1.38% in Malaysia and 2.95% in the United States.

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $43B
Textiles & consumer goods $3.01B
Manufacturing & construction services $2.95B
Raw materials & minerals $2.33B
Business & finance services $2.16B
Metals $1.91B
Processed food, beverages & tobacco $1.83B
Transport & tourism services $1.45B
Chemicals & pharma $1.39B
Wood & paper products $755M
United States
Export category Export value
Machinery & equipment $20.3B
Raw materials & minerals $2.22B
Chemicals & pharma $2.12B
Business & finance services $1.58B
Metals $1.34B
Miscellaneous $991M
IT & IP services $908M
Transport & tourism services $736M
Raw agricultural goods $504M
Manufacturing & construction services $500M

Balance of trade

Malaysia United States
Current account balance
$7.15B
2024
-$1.12T
2025
Current account balance ranking
29/190
2024
190/190
2025
Current account balance, % of GDP
+1.69%
2024
-3.63%
2025
Goods imports
$223B
2024
$3.44T
2025
Goods exports
$248B
2024
$2.2T
2025
Service imports
$56.4B
2024
$903B
2025
Service exports
$53.4B
2024
$1.23T
2025
Imports of goods and services, % of GDP
65.4%
2025
14%
2024
Exports of goods and services, % of GDP
71%
2025
11%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Malaysia United States
Economic freedom 68 72.8
Economic freedom ranking 51/197 27/197
Property rights 62.7 91.6
Government integrity 52.9 77.1
Judicial effectiveness 63.4 76.4
Tax burden 83.5 75.3
Government spending 82 57.9
Fiscal health 62.5 18.5
Business freedom 79.6 88.6
Labor freedom 55.4 76.3
Monetary freedom 80.8 84.2
Trade freedom 83 67.6
Investment freedom 60 80
Financial freedom 50 80

Economic freedom comparison by year

Malaysia
United States
1x
Year Economic freedom index
Malaysia United States
2026 68 72.8
2025 67.1 70.2
2024 65.7 70.1
2023 67.3 70.6
2022 68.1 72.1
2021 74.4 74.8
2020 74.7 76.6
2019 74 76.8
2018 74.5 75.7
2017 73.8 75.1
2016 71.5 75.4
2015 70.8 76.2
2014 69.6 75.5
2013 66.1 76
2012 66.4 76.3
2011 66.3 77.8
2010 64.8 78
2009 64.6 80.7
2008 63.9 81
2007 63.8 81.2
2006 61.6 81.2
2005 61.9 79.9
2004 59.9 78.7
2003 61.1 78.2
2002 60.1 78.4
2001 60.2 79.1
2000 66 76.4
1999 68.9 75.5
1998 68.2 75.4
1997 66.8 75.6
1996 69.9 76.7
1995 71.9 76.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 72.8 for the United States, ranking 27/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia United States
Services, % of GDP
54.8%
2025
79.7%
2024
Industry, % of GDP
35.7%
2025
17.3%
2024
Agriculture, forestry, and fishing, % of GDP
8.22%
2025
0.85%
2024
GNI, Atlas method
$445B
2025
$30.4T
2025
GNI per capita, PPP
$40,070
2025
$89,490
2025
Total reserves including gold
$126B
2025
$1.39T
2025
Total reserves ranking
25/177
2025
2/177
2025
Net foreign direct investment
-$2.55B
2024
$21.7B
2025
Net inflows of foreign direct investment
$15.6B
2024
$297B
2024
Net outflows of foreign direct investment
$13B
2024
$322B
2024
Poverty at national poverty lines
5.1%
2023
15.1%
2020
Gross capital formation, % of GDP
20.5%
2025
21.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/united-states | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1929–2000, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1960–2026, retrieved 2026-07-08)
  6. TradeMap (2024–2025, retrieved 2026-07-08)
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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.