Each country has different standards for measuring the level of its own economic development, but internationally, it is generally measured by GDP to measure the economic development of a country, and the higher the level, the stronger the country's economic strength.
Of course, a country's overall GDP can indeed represent the country's economic strength to a certain extent, but per capita GDP is also a criterion that cannot be ignored.
As we all know, the mainland has become the world's second largest economy, second only to the United States in terms of total GDP, but due to the large population of the mainland, the per capita GDP of the mainland is relatively small. However, looking at the countries in the world that have entered the ranks of developed countries, the per capita GDP is relatively considerable, so there is still a large economic gap between the mainland and the developed countries.
However, there are also some developing countries in the world that may not have any representative industries in their countries, but their per capita GDP is very high. In the case of Malaysia, although malaysia's economic growth rate is only 3.1% in 2021, its per capita GDP can reach 11406 US dollars. So, why does Malaysia achieve such a high per capita GDP?
Malaysia is a typical Southeast Asian country, and in the process of communication between many people, Malaysia is also known as Malaysia. Its land area is only 330,000 square kilometers, and its population is only more than 30 million, and 23% of the population belongs to the Chinese.
As early as the 1990s, Malaysia's economic development was concerned by other countries, and the four Asian tigers that were hotly discussed at that time included Malaysia.
The development of any country is certainly not a whim, especially if it wants to rise rapidly in a short period of time, its own domestic development advantages must have certain development advantages, and the rise of Malaysia is also the case. On the whole, the reason why Malaysia's per capita GDP can be so high is mainly due to the following reasons.
First of all, Malaysia's stable external environment provides preconditions for Malaysia's economic development. In Malaysia, the unemployment rate and inflation rate are generally within 3%, and they have sufficient foreign exchange reserves and do not owe too much external debt. And Malaysia will also adjust its development plan according to its own development situation, which shows that it is somewhat similar to the mainland's five-year plan.
For example, Malaysia will highlight its own advantages from the process of cooperation with other countries, so as to adjust its own development path. When resources are scarce, they will choose to cooperate with Singapore to upgrade the domestic industrial structure. When cooperating with Japan, lower land costs and labor costs can also attract the continuous influx of foreign investors.
Secondly, Malaysia's abundant resources are also the main reason for its development. In the process of Malaysia's foreign trade, rubber, liquefied natural gas and palm oil are the most important economic growth points, in 2017, Malaysia's palm oil production reached 19.92 million tons, becoming the world's second largest palm oil exporter, and its export of rubber production can also reach 1.194 million tons, while China is Malaysia's main exporter.
In addition, in 2018, crude oil and natural gas contributed nearly 8% of Malaysia's GDP, and its crude oil and natural gas exports were very large in the face of Taiwan and the mainland and Japan.
Finally, the right development path also provides an opportunity for Malaysia to develop. In the 1990s, the production costs of developed countries continued to increase, and the low-end manufacturing industry gradually shifted to developing countries. It is also at this time that Malaysia has seized the opportunity for development, relying on the advantages of cheap labor, so that the domestic manufacturing industry has developed rapidly. However, at the end of the 20th century, japan's economic bubble also negatively affected Malaysia's economy.
However, the blow to the manufacturing industry has not affected the overall development of Malaysia, after entering the twenty-first century, people's economic ability has been improved, the demand for tourism has become more and more exuberant, and the tourism industry has been vigorously developed at this time. Relying on its own natural and cultural tourism resources, Malaysia has developed its domestic tourism service industry by learning from Singapore.
It is understood that in 2018, the tourism service industry contributed 55.5% of Malaysia's GDP, and tourism has also become a pillar industry in Malaysia.
The epidemic has hit all walks of life, but the impact on the tourism industry is the greatest, and tourism, as a pillar industry of Malaysia, has also profoundly affected Malaysia's development level during the epidemic. This outbreak has also profoundly exposed the problems caused by over-reliance on tourism, and according to Malaysia's past development strategy, it may gradually adjust its industrial structure and increase the added value brought by domestic manufacturing and other industrial products.
epilogue
Overall, although Malaysia is a developing country, its GDP per capita is very impressive. The reason why Malaysia has created such a high per capita GDP is mainly due to its own resources, national strategy and stable external environment. Today, Malaysia's economy is also a certain gap compared with before the epidemic, and in order to better promote economic recovery, Malaysia may also develop in a more diversified direction in the future.
Today's topic: Malaysia does not have any powerful industries, why can the per capita GDP reach such a high?