Malaysia is a multinational country with a population of almost 33 million people, one of the most open economies in the world for trade and investment.
In 2021, the twelfth Malaysia Economic Development Plan for 2021-2025 was approved. Within the framework of the plan, it is planned to increase the potential of agriculture through high technologies and sustainable development. The target indicator is an annual increase in the volume of agricultural GDP by 4.5%.
Key indicators (as of 2021):
32.7 million people - population
$ 373 billion - GDP at current prices
$ 20.6 billion - volume of imports of agricultural products
The main imported agricultural products are cocoa beans, palm oil, corn, beet and cane sugar, animal and vegetable oils and other non-food fats, soybean cake and meal
In 2021, the turnover of agricultural products in Malaysia increased to $ 49.9 billion, which is 28.6% higher than in 2020 ($38.8 billion). According to the ITC Trade Map, the total volume of imports of agricultural products of Malaysia in 2021 amounted to $ 20.6 billion, showing an increase of 22.7% compared to 2020 ($ 16.8 billion). The average annual growth rate of imports during 2017-2021 was 7.8%.