3) Industrial structure and racial composition

Malaysia's 2019 GDP composition ratio is as follows.

① Services (distribution, IT, finance, tourism) 57%
② Manufacturing industry (electricity, semiconductors, petrochemicals) 23%
③ Mining (oil, natural gas) 8%
④ Agriculture (oil palm, rubber) 7%
⑤ Construction 4.5%

In other words, Malaysia has transformed from an economy centered on the primary industry (agriculture and forestry) and the secondary industry (manufacturing industry)
to an economy centered on the tertiary industry (service industry).

In the service industry, prior to the Covid-19 pandemic, it has become a tourism-oriented country which received 30 million foreign tourists each year.
Furthermore, the government has been putting emphasis in the IT industry to attract foreign capital and fostering industry, and is becoming an institutional industry.

Malaysia also specializes in Global Islamic Banking which conforms to the Islamic Syariah Law.
Malaysia’s Islamic financial transactions and products based on Islamic Syariah Law are at the forefront of the global banking industry, which maintains the world's unrivaled position in the issuance of Shariah compliant Islamic bonds (Sukuk bonds).
Taking advantage of this, Malaysia have earmarked a special international financial zone (TRX), located in the city of Kuala Lumpur and have begun to attract domestic and foreign financial institutions.

Malaysia is a resource rich nation with abundance of oil and natural gas.
It is also the world's second largest exporter of palm oil, which is the world’s most widely consumed edible oil. Besides, palm oil is also a main ingredient in biofuels, cosmetics and detergents.
Home appliance manufacturers such as major American and Japanese companies such as Dyson, Panasonic Sony, Hitachi, Toshiba, and Sharp have made Malaysia a manufacturing base for their products in Southeast Asia
In the semiconductor industry, Malaysia is a vital production hub for major Semiconductor Companies (Intel, AMD, Micron ,Infineon). These multinational companies choose to set up in Malaysia due to its highly skilled workforce, supportive government policies and it’s strategically located in the trading routes between East and West.

Malaysia is a multi-ethnic country with a total population of about 32.7 million as of 2022. The ratio for each ethnic group is as follows.

① Malay (Islamic) 67%
② Chinese (Buddhism, Christianity) 25%
③ Indian (Hindu, Christian) 7%
④ Other 1%

The population trend is still increasing, mainly among young people (20-30 years old). (Refer to the population pyramid)

In terms of language, Malaysia is a multilingual society, and English, Chinese, Malay, Tamil, etc. are widely used in business communication and in daily conversation.