Macroeconomic Outlook

National Economic Recovery Plan
Chapter 2


Malaysia economic performance is tied up with the economic performance of its trading partners. The high level of external trade as a percentage of GNP shows the openness and dependence of the Malaysian economy on international trade. In 1997, Malaysia's exports of goods and non-factor services constituted 99.3 per cent of GNP, while its imports was 97.7 per cent of GNP. Since the domestic sector is adversely affected by the crisis, the country's economic recovery will pivot on a healthy export performance. Accordingly, this chapter will have a brief overview of the world economic prospects before examining the macroeconomic outlook for the country.




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