Malaysia has been transformed from a commodity-based economy focusing on rubber and tin to one of the world's largest producers of electronic and electrical products.
Malaysia is a significant trading nation as measured by trade as a share of gross domestic product (GDP), with its goods and services exports amounting to around 90 per cent of GDP.
Malaysia is the world's second-largest exporter of palm oil and one of the region's major oil and gas exporters.
In terms of two-way goods and services trade, Malaysia is Australia's 6th-largest partner overall. In 2019, total merchandise trade between Australia and Malaysia was $21.3 billion with Australian exports of $8.9 billion and imports of $12.4 billion. Total two-way services trade in 2019 was $3.7 billion with Australian exports of $2.6 billion and imports of $1.1 billion.
Major merchandise exports from Australia to Malaysia include crude petroleum, copper, coal and natural gas. Australia is a major provider of education services to Malaysia with education related travel totaling $1.3 billion.
Malaysian investment in Australia reached $22.1 billion in 2019. Australian companies continue to pursue opportunities in Malaysia, with Australian foreign investment in Malaysia at $10.2 billion in 2019.
| Population | 32.4 million (2018) |
| GDP | $ 365 billion (2019) |
| GDP per Capita (nominal) | $ 11,136 (2019) |
| GDP growth | 4.5% (2019) |
| Inflation | 1.0% (2019) |
| Key Industries | Electronics, palm oil, natural gas, crude petroleum, copper, coal, rubber and aluminium |
| Import Partners | China 19.9%, Singapore 11.7%, USA 7.4%, Australia (11th) 2.5% (2019) |
| Export Partners | Singapore 13.9%, China 13.9%, USA 9.1%, Australia (10th) 3.4% (2019) |
