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Malaysia is ranked fifth among 17 other developing countries according to a Bloomberg study that gauges their outlook for 2021 based on 11 indicators of economic and financial performance.
Malaysia’s economy has been transformed since 1970 from one based primarily on the export of raw materials (rubber and tin) to one that is among the strongest, most diversified, and fastest-growing in Southeast Asia. Primary production remains important: the country is a major producer of rubber and palm oil, exports considerable quantities of petroleum and natural gas, and is one of the world’s largest sources of commercial hardwoods. Increasingly, however, Malaysia has emphasized export-oriented manufacturing to fuel its economic growth.
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