The Malaysian economy has undergone rapid change over the last four decades. From being, principally, a producer of natural resources, it has now developed into diverse, multi-industry economy.
The massive growth in exports has been a key driver of this transformation, with electronics, oil and gas, palm oil and rubber leading the way. The government is targeting to achieve high-income status by 2020. Accordingly, Malaysia it is seeking to move-up the value chain through increased investment in Islamic finance, high-tech industries and services. As part of that programme, it is seeking to boost domestic consumption and reduce reliance on exports.