Information about Asia and the Pacific Asia y el Pacífico
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Malaysia

Author(s):
International Monetary Fund
Published Date:
March 2004
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STATISTICAL APPENDIX
Table 1.Malaysia: Industrial Production Index, 1998–2002
19981999200020012002
Total144.9158.0188.3180.5188.8
Mining123.6119.7119.4122.7124.9
Electricity173.0179.7190.7207.1228.5
Manufacturing148.6167.8209.7195.8204.7
Food120.7127.6148.3154.7168.2
Beverage129.9126.6134.2138.5121.9
Tobacco118.099.8174.9164.4148.0
Textile130.0135.8138.1131.5126.4
Wearing apparel95.798.8119.2103.393.1
Crude oil refineries146.2140.5163.6204.4201.7
Industrial chemical175.2183.7196.2198.9200.8
Other chemical123.1134.9150.5146.6149.1
Wood products107.499.6103.6104.998.6
Rubber products161.7167.5174.2180.0183.5
Nonmetallic mineral126.4129.7156.3171.3180.0
Iron and steel106.7146.2175.8182.6186.2
Nonferrous metal177.5199.7212.7181.1188.0
Fabricated metal145.6144.0192.6200.0201.7
Electrical machinery and electronics167.7193.9272.4229.2247.8
Transport equipment109.1167.4199.3237.1251.9
Total-7.29.019.2-4.24.6
Mining1.0-3.2-0.32.81.8
Electricity3.43.96.18.610.3
Manufacturing-10.312.925.0-6.64.5
Food-2.15.716.24.38.7
Beverage-11.8-2.56.03.2-11.9
Tobacco-9.1-15.475.3-6.0-10.0
Textile-8.84.51.7-4.8-3.9
Wearing apparel1.13.220.6-13.5-9.7
Crude oil refineries-10.9-3.916.425.0-1.3
Industrial chemical-2.74.96.81.41.0
Other chemical-12.39.611.6-2.61.7
Wood products-11.3-7.34.01.2-6.0
Rubber products7.93.64.03.32.0
Nonmetallic mineral-26.52.620.59.65.1
Iron and steel-35.637.020.23.92.0
Nonferrous metal-8.312.56.5-14.83.8
Fabricated metal-17.2-1.133.83.90.8
Electrical machinery and electronics-7.715.740.5-15.98.1
Transport equipment-52.153.419.119.06.2
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 2.Malaysia: Composition of Investment and Saving in Current Prices, 1998–2002
19981999200020012002
Gross domestic investment75,55567,31793,10780,07788,189
Private gross fixed capital formation44,02931,37544,10134,52830,066
Oil and gas2,6693,8134,2974,4254,321
Other41,36027,56239,80429,70425,745
Public gross fixed capital formation31,95334,46643,62748,81753,698
Federal government8,98310,51614,14719,11621,624
Statutory bodies1,3571,5163,0652,7943,841
State governments3,9233,3104,3134,6802,829
Local governments1,4281,2621,2251,3202,322
Public enterprises16,26317,86220,87821,30623,082
Change in stocks-4271,4765,378-3,2684,425
Gross national saving112,952115,211124,980107,373115,559
Private sector69,30464,51769,59053,83960,398
Public sector43,64850,69455,39053,53455,161
Gross domestic investment26.722.427.224.024.5
Private gross fixed capital formation15.510.412.910.38.3
Oil and gas0.91.31.31.3
Other14.69.211.68.9
Public gross fixed capital formation11.311.512.714.614.9
Federal government3.23.54.15.76.0
Statutory bodies0.50.50.90.81.1
State governments1.41.11.31.40.8
Local governments0.50.40.40.40.6
Public enterprises5.75.96.16.46.4
Change in stocks-0.20.51.6-1.01.2
Gross national saving39.938.336.532.132.0
Private sector24.521.520.316.116.7
Public sector15.416.916.216.015.3
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 3.Malaysia: Labor Market Developments, 1998–2002
19981999200020012002
Population22,19722,72923,26924,00524,527
Total labor force8,8849,1529,6169,8929,886
Labor force participation rate (in percent)64.364.265.265.364.5
Unemployment rate (in percent)3.23.43.13.63.5
Total employment8,6008,8389,3229,5269,552
Primary sector1,6451,6621,7391,5261,450
Agriculture, forestry, and fishery1,6171,6241,7121,4971,422
Mining and quarrying2838272929
Secondary sector2,6542,7142,9253,0042,977
Manufacturing1,9081,9912,1262,1552,071
Construction746723799849907
Tertiary sector4,3014,4624,6584,9965,124
Electricity, gas, and water5050485748
Wholesale and retail services, hotels, and restaurants 1/1,6161,6611,7902,1072,118
Transport, etc.422420423477496
Finance, insurance, real estate and business services426466462582639
Community, social and personal services1,7871,8651,9351,5641,555
Private households with employed persons210267
Extra-territorial organizations and bodies00
Total labor force1.13.05.12.9-0.1
Total employment0.42.85.52.20.3
Primary sector8.21.04.6-12.3-4.9
Agriculture, forestry, and fishery9.20.45.4-12.6-5.0
Mining and quarrying-28.235.728.95.90.1
Secondary sector-5.12.37.82.7-0.9
Manufacturing-4.74.46.81.4-3.9
Construction-5.9-3.110.56.26.8
Tertiary sector1.13.74.47.32.6
Electricity, gas, and water-2.00.0-4.019.2-16.6
Wholesale and retail services, hotels, and restaurants 1/2.42.87.817.70.5
Transport, etc.-0.2-0.50.712.74.1
Finance, insurance, real estate and business services-4.79.4-0.925.99.9
Community, social and personal services1.94.43.8-19.2-0.5
Total employment100.0100.0100.0100.0100.0
Primary sector19.118.818.716.015.2
Agriculture, forestry, and fishery18.818.418.415.714.9
Mining and quarrying0.30.40.30.30.3
Secondary sector30.930.731.431.531.2
Manufacturing22.222.522.822.621.7
Construction8.78.28.68.99.5
Tertiary sector50.050.550.052.553.6
Electricity, gas, and water0.60.60.50.60.5
Wholesale and retail services, hotels, and restaurants 1/18.818.819.222.122.2
Transport, etc.4.94.84.55.05.2
Finance, insurance, real estate and business services5.05.35.06.16.7
Community, social and personal services20.821.120.816.416.3
Private households with employed persons2.22.8
Extra-territorial organizations and bodies0.00.0
Source: Data provided by the Malaysian authorities.

Data for 2001 includes repair of motor vehicles, motorcycles and personal and household goods.

Source: Data provided by the Malaysian authorities.

Data for 2001 includes repair of motor vehicles, motorcycles and personal and household goods.

Table 4.Malaysia: Active Registered Unemployed by Occupation, 1998–2002
19981999200020012002
Total33,34531,83027,82034,20032,305
Production related 1/9,8457,9826,9827,0166,574
Agricultural95649293112
Services823517417560512
Clerical14,71214,92812,96615,36715,970
Professional and technical5,2815,3354,4387,9746,778
Others 2/2,5893,0042,9253,1902,359
Total100.0100.0100.0100.0100.0
Production related 1/29.525.125.120.520.3
Agricultural0.30.20.30.30.3
Services2.51.61.51.61.6
Clerical44.146.946.644.949.4
Professional and technical15.816.816.023.321.0
Others 2/7.89.410.59.37.3
Source: Data provided by the Malaysian authorities.

Includes transport equipment operators and laborers.

Include sales and administrative and managerial workers.

Source: Data provided by the Malaysian authorities.

Includes transport equipment operators and laborers.

Include sales and administrative and managerial workers.

Table 5.Malaysia: Average Domestic Prices and Taxes on Energy-Related Products, 1998–2003(Cents per liter; unless otherwise indicated)
199819992000200120022003
Crude oil
Excise duty0.000.000.000.000.000.00
Import duty0.000.000.000.000.000.00
Gasoline regular
Price 1/106.00106.00116.00126.00129.00131.00
Excise duty 2/58.6258.6258.6258.6258.6258.62
Import duty 2/58.6258.6258.6258.6258.6258.62
Gasoline premium
Price 1/110.00110.00120.00130.00133.00135.00
Excise duty 2/58.6258.6258.6258.6258.6258.62
Import duty 2/58.6258.6258.6258.6258.6258.62
Kerosene
Price 3/
Excise duty0.000.000.000.000.000.00
Import duty0.000.000.000.000.000.00
Diesel oil
Price 1/65.1065.1070.1070.1074.1076.10
Excise duty 2/19.6419.6419.6419.6419.6419.64
Import duty 2/19.6419.6419.6419.6419.6419.64
LPG (per kg)
Price
Excise duty118.00118.00128.00128.00131.00133.00
Import duty0.000.000.000.000.000.00
Natural gas
Price (cents/kg) 3/
Excise duty (cents/kg)0.000.000.000.000.000.00
Import duty (cents/kg)0.000.000.000.000.000.00
Source: Data provided by the Malaysian authorities.

Prices were increased on October 1, 2000, May 1 and October 20, 2001, May 1 and November 1, 2002, and March 1, 2003.

Import and excise duty were replaced by sales tax in January 2000.

Prices of fuel oil and natural gas (liquefied) are not available.

Source: Data provided by the Malaysian authorities.

Prices were increased on October 1, 2000, May 1 and October 20, 2001, May 1 and November 1, 2002, and March 1, 2003.

Import and excise duty were replaced by sales tax in January 2000.

Prices of fuel oil and natural gas (liquefied) are not available.

Table 6.Malaysia: Federal Government Revenue and Grants, 1998–2003
1998199920002001Prel.

2002
Revised

Budget

2003
(In millions of ringgit)
Tax revenue45,33645,34647,17361,49166,86069,171
Taxes on net income and profits30,01527,24629,15642,09844,35146,481
Oil production companies4,0462,8566,0109,8597,6368,995
Corporate 1/18,94017,82916,04422,73226,75727,044
Individuals6,9006,4197,0159,4369,88910,370
Other12914287716972
Taxes on goods and services8,87810,67011,47213,41116,20315,810
Sales tax3,8454,4885,9687,3569,2448,514
Selective excises on goods3,5864,7233,8034,1294,7454,933
Selective excises on services1,4471,4591,7011,9262,2142,363
Taxes on international trade4,4915,3904,6314,0604,4714,909
Import duties3,8684,7203,5993,1933,6683,912
Export duties6236701,032867803997
Other tax revenue1,9522,0401,9141,9221,8351,971
Nontax revenue10,88312,67414,09317,30415,75919,027
Property income6,6788,9859,64911,90411,27212,284
Public financial institutions6931,0041,8771,9301,7592,264
Rent and interest (including and tax)7832,9071,9092,0642,5232,279
Dividends paid by Petronas4,1004,1004,1005,9105,3905,600
Petroleum royalties1,1029741,7632,0001,6002,141
Administrative fees, charges, and licenses3,4803,0913,8604,7673,6035,867
Other nontax revenue725598584633884876
Capital revenue and grants 2/491655598772896970
Total revenue56,71058,67561,86479,56783,51589,168
Foreign grants000000
Total revenue and grants56,71058,67561,86479,56783,51589,168
(In percent of GDP)
Tax revenue16.015.113.818.418.517.9
Taxes on net income and profits10.69.18.512.612.312.1
Taxes on goods and services3.13.53.34.04.54.1
Taxes on international trade1.61.81.41.21.21.3
Other tax revenue0.70.70.60.60.50.5
Nontax revenue3.84.24.15.24.44.9
Capital revenue0.20.20.20.20.20.3
Total revenue and grants20.019.518.123.823.223.1
Memorandum items:
Gross domestic product (current prices)283,243300,764342,612334,309360,658385,635
Source: Data provided by the Malaysian authorities.

Includes real property gain tax and other levies on income.

Includes non-revenue receipts and federal territory revenue.

Source: Data provided by the Malaysian authorities.

Includes real property gain tax and other levies on income.

Includes non-revenue receipts and federal territory revenue.

Table 7.Malaysia: Economic Classification of Federal Government Expenditure and Net Lending, 1998–2003
1998199920002001Prel.

2002
Revised

Budget

2003
Current expenditure 1/45,16849,06957,82964,99171,11574,600
On personnel, goods, and services20,21323,30225,57130,71834,89637,834
Wages and salaries13,98414,43616,35717,44320,24219,727
Other goods and services 2/6,2298,8669,21413,27514,65418,107
Interest payments 3/6,9287,9419,0559,6349,6698,868
Subsidies and other current transfers18,02717,82623,20324,63926,55027,898
Transfers to state governments1,7151,7092,0772,0122,5342,534
Pensions3,6583,7924,1874,7115,1344,408
Other current transfers 4/12,65412,32516,93917,91618,88220,956
Development expenditure16,54519,09323,75032,99932,65235,417
Direct development expenditure17,52020,24526,65934,00233,56036,600
Net lending 5/-975-1,152-2,909-1,003-908-1,183
Adjustment for accounts payable000000
Total expenditure and net lending61,71368,16281,57997,990103,767110,017
(In percent of total expenditure and net lending)
Current expenditure 1/73.272.070.966.368.567.8
On personnel, goods, and services32.834.231.331.333.634.4
Wages and salaries22.721.220.117.819.517.9
Other goods and services 2/10.113.011.313.514.116.5
Interest payments 3/11.211.711.19.89.38.1
Subsidies and other current transfers29.226.228.425.125.625.4
Transfers to state governments2.82.52.52.12.42.3
Pensions5.95.65.14.84.94.0
Other current transfers 4/20.518.120.818.318.219.0
Development expenditure26.828.029.133.731.532.2
Direct development expenditure 5/28.429.732.734.732.333.3
Loan recoveries-1.6-1.7-3.6-1.0-0.9-1.1
Adjustment for accounts payable0.00.00.00.00.00.0
(In percent of GDP)
Current expenditure15.916.316.919.419.719.3
Of which:
Wages and salaries4.94.84.85.25.65.1
Other goods and services 2/2.22.92.74.04.14.7
Direct development expenditure6.26.77.810.29.39.5
Memorandum items:
Gross domestic product (current prices)283,243300,764342,612334,309360,658385,635
Source: Data provided by the Malaysian authorities.

Includes expenditure refunds.

Includes defense expenditures shown in the development budget.

Excludes contributions to the sinking funds.

Consists of subsidies, indemnities, refunds and write-offs, transfers to statutory bodies, and other transfers.

Includes lending, asset acquisition in operating expenditure, but excludes defense expenditures.

Source: Data provided by the Malaysian authorities.

Includes expenditure refunds.

Includes defense expenditures shown in the development budget.

Excludes contributions to the sinking funds.

Consists of subsidies, indemnities, refunds and write-offs, transfers to statutory bodies, and other transfers.

Includes lending, asset acquisition in operating expenditure, but excludes defense expenditures.

Table 8.Malaysia: Functional Classification of Federal Government Expenditure and Net Lending, 1998–2003
1998199920002001Prel.

2002
Revised

Budget

2003
(In millions of ringgit)
Total expenditure61,71268,35881,57997,990130,766110,017
General services36,85643,05151,48561,48365,95570,118
General public services10,04611,98514,76016,72014,30016,523
General administration7,3149,07711,29512,4749,44211,615
Internal security2,7322,9083,4654,2464,8584,908
Defense4,5456,3215,8267,3518,5049,166
Education13,44315,32320,02224,78529,41829,931
Health4,0474,4625,4036,2506,6557,756
Social security 1/3,6583,7924,1874,7115,1344,408
Housing and community developments1,1171,1681,2871,6661,9442,334
Economic services13,33013,18318,27617,87518,44720,325
Agriculture, forestry, and rural development2,0802,3122,5062,7612,8104,613
Transport and communications4,1444,3686,4117,1057,7887,758
Other economic services 2/7,1066,5039,3598,0097,8497,954
Other11,52612,12411,81818,63246,36419,574
Interest payments6,9287,9419,0559,6349,6698,868
Transfers to state governments1,7151,7092,0772,0122,5342,534
Others 3/2,8832,4746866,98634,1618,172
Adjustment for accounts payable 3/000000
Total expenditure and net lending61,71368,16281,57997,990103,767110,017
(In percent of GDP)
General services13.014.315.018.418.318.2
General public services3.54.04.35.04.04.3
Defense1.62.11.72.22.42.4
Education4.75.15.87.48.27.8
Health1.41.51.61.91.82.0
Social security 1/1.31.31.21.41.41.1
Housing and community developments0.40.40.40.50.50.6
Economic services4.74.45.35.35.15.3
Agriculture, forestry, and rural development0.70.80.70.80.81.2
Transport and communications1.51.51.92.12.22.0
Other economic services 2/2.52.22.72.42.22.1
Other4.14.03.45.612.95.1
Interest payments2.42.62.62.92.72.3
Transfers to state governments0.60.60.60.60.70.7
Others 3/1.00.80.22.19.52.1
Adjustment for accounts payable 3/0.00.00.00.00.00.0
Memorandum items:
Gross domestic product (current prices)283,243300,764342,612334,309360,658385,635
Source: Data provided by the Malaysian authorities.

Includes government pensions.

Includes general administration, regulations and research, mining, manufacturing and construction, and utilities.

Includes expenditure refunds, net lending and, from 2001, accounts payable.

Source: Data provided by the Malaysian authorities.

Includes government pensions.

Includes general administration, regulations and research, mining, manufacturing and construction, and utilities.

Includes expenditure refunds, net lending and, from 2001, accounts payable.

Table 9.Malaysia: Federal Government Fiscal Operations, 1998–2003
1998199920002001Prel.

2002
Revised

Budget

2003
(In millions of ringgit)
Total revenue56,71058,67561,86479,56783,51589,168
Tax revenue45,33645,34647,17361,49166,86069,171
Nonpetroleum tax revenue37,73938,76740,16550,80158,45759,217
Taxes on net income and profits 1/25,96924,39023,14632,23936,71537,486
Sales tax and excises 2/9,30411,04913,38615,33318,03817,781
Taxes on international trade2,4663,3283,6333,2293,7043,950
Petroleum tax revenue7,5976,5797,00810,6908,4039,954
Nontax revenue11,37413,32914,69118,07616,65519,997
Total expenditure and net lending61,71368,16281,57997,990103,767110,017
Current expenditure45,16849,06957,82964,99171,11574,600
Wages and salaries13,98414,43616,35717,44320,24219,727
Other expenditure on goods and services6,2298,8669,21413,27514,65418,107
Interest payments6,9287,9419,0559,6349,6698,868
Subsidies and transfers18,02717,82623,20324,63926,55027,898
Development expenditure16,54519,09323,75032,99932,65235,417
Overall balance-5,003-9,487-19,715-18,423-20,252-20,849
Current balance11,5429,6064,03514,57612,40014,568
Primary balance 3/1,925-1,546-10,660-8,789-10,583-11,981
Financing5,0039,48719,71518,42320,25220,849
External1,7842,9238646,2958,020-4,391
Domestic (including use of assets)3,2196,56418,85112,12812,23225,240
(In percent of GDP)
Total revenues20.019.518.123.823.223.1
Tax revenue16.015.113.818.418.517.9
Nonpetroleum tax revenue13.312.911.715.216.215.4
Taxes on net income and profits 1/9.28.16.89.610.29.7
Sales tax and excises 2/3.33.73.94.65.04.6
Taxes on international trade0.91.11.11.01.01.0
Petroleum tax revenue2.72.22.03.22.32.6
Nontax revenue4.04.44.35.44.65.2
Total expenditures21.822.723.829.328.828.5
Current expenditure15.916.316.919.419.719.3
Wages and salaries4.94.84.85.25.65.1
Other expenditure on goods and services2.22.92.74.04.14.7
Interest payments2.42.62.62.92.72.3
Subsidies and transfers6.45.96.87.47.47.2
Development expenditure5.86.36.99.99.19.2
Overall balance-1.8-3.2-5.8-5.5-5.6-5.4
Current balance4.13.21.24.43.43.8
Primary balance 3/0.7-0.5-3.1-2.6-2.9-3.1
Financing1.83.25.85.55.65.4
External0.61.00.31.92.2-1.1
Domestic3.91.83.74.01.76.0
Memorandum items:
Nominal GDP (in millions of ringgit)283,243300,764342,612334,309360,658385,635
Source: Data provided by the Malaysian authorities.

Includes taxes on property.

Includes “other tax revenue.

Overall balance plus interest payments.

Source: Data provided by the Malaysian authorities.

Includes taxes on property.

Includes “other tax revenue.

Overall balance plus interest payments.

Table 10.Malaysia: Federal Government Operations, 1998–2003(In millions of ringgit)
1998199920002001Prel.

2002
Revised

Budget

2003
Total revenue and grants56,71058,67561,86479,56783,51589,168
Own revenue56,71058,67561,86479,56783,51589,168
Tax revenue45,33645,34647,17361,49166,86069,171
Nontax revenue11,37413,32914,69118,07616,65519,997
Total expenditure and net lending61,71368,16281,57997,990103,767110,017
Current expenditure 1/45,16849,06957,82964,99171,11574,600
Transfers to5,6585,3866,2057,4168,9839,548
Statutory bodies3,8883,6324,0165,3126,3616,854
State governments1,7151,7092,0772,0122,5342,534
Local governments55451129288160
Nonfinancial public enterprises (NFPEs)000000
Direct development expenditure17,52020,24526,65934,00233,56036,600
Transfers to5,3336,3529,1457,7047,1307,368
Statutory bodies1,6921,8054,3324,3455,7585,048
State governments 2/38353486312664666
Local governments961122482,8484211,305
NFPEs3,5074,0824,079199287349
Loan recoveries-975-1,152-2,909-1,003-908-1,183
Net lending to:1,412384-2,018621856-446
Statutory bodies-234-249-2,147-11496-541
State governments880444433549907395
Local governments-15-11-13-4-7-10
NFPEs781200-291190-140-290
Adjustments for accounts payable 3/000000
Overall balance-5,003-9,487-19,715-18,423-20,252-20,849
Financing (net)5,0039,48719,71518,42320,25220,849
External1,7842,9238646,2958,020-4,391
Domestic3,2196,56418,85112,12812,23225,240
Banking system 4/-13,5551,4203,302-3,54010,839
Nonbanks16,7745,14415,54915,6681,393
Employees Provident Fund7,3035,7879,4195,9924,580
Insurance companies 5/-586566431,914779
Petronas113-200-1,320-872
Other9,416-1,0996,8078,634
Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Excludes net lending shown in the current budget.

Includes reimbursements to state governments.

Includes expenditure refunds, net lending and, from 2001, accounts payable.

Excludes claims and deposits of Pension Trust Fund.

Insurance companies are currently required to hold 25 percent of assets in government securities.

Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Excludes net lending shown in the current budget.

Includes reimbursements to state governments.

Includes expenditure refunds, net lending and, from 2001, accounts payable.

Excludes claims and deposits of Pension Trust Fund.

Insurance companies are currently required to hold 25 percent of assets in government securities.

Table 11.Malaysia: Operations of Statutory Bodies, 1998–2003(In millions of ringgit)
1998199920002001Prel.

2002
Revised

Budget

2003
Total revenue8,8158,15711,93313,41715,62816,997
Own revenue3,2352,7203,5853,7603,5095,095
Transfers from:5,5805,4378,3489,65712,11911,902
Federal government (operating and development grants)5,5805,4378,3489,65712,11911,902
State governments000000
Local governments000000
NFPEs000000
Total expenditure6,0497,2909,69411,05512,50012,847
Operating expenditure4,6925,7746,5197,9678,6599,495
Transfers to:000000
Federal government000000
State governments000000
Local governments000000
NFPEs000000
Of which: Transfer from federal government3,8883,6324,0165,3126,3616,854
Development expenditure1,3571,5163,1753,0883,8413,352
Of which: Transfer from federal government1,6921,8054,3324,3455,7585,048
Overall balance2,7668672,2392,3623,1284,150
Financing (net)-2,766-867-2,239-2,362-3,128-4,150
External-213-242-379020
Domestic-234-249469-228201-371
Net borrowing from federal government-234-249-2,147-11496-541
Other002,616-114105170
Change in assets (increase -)-2,319-376-2,329-2,134-3,331-3,779
Memorandum items:
Current balance (in percent of GDP)1.50.81.61.61.91.9
Overall balance (in percent of GDP)1.00.30.70.70.91.1
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 12.Malaysia: Operations of State Governments, 1998–2003(In millions of ringgit)
1998199920002001Prel.

2002
Revised

Budget

2003
Revenue and grants8,5918,79210,3158,3128,34111,001
Own revenue6,8386,7307,7525,9885,1437,801
Transfers from:1,7532,0622,5632,3243,1983,200
Federal government1,7532,0622,5632,3243,1983,200
Statutory bodies000000
Local governments000000
Expenditure8,9448,69210,31810,0048,87111,377
Operating expenditure4,6174,8625,2545,3055,0906,073
Transfers to:242246849195108
Federal government000000
Statutory bodies000000
Local governments242246849195108
Development expenditure and net lending4,3273,8305,0644,6993,7815,304
Direct development expenditure4,3213,8275,0824,7043,7725,309
Transfers to:364370164179199190
Federal government000000
Statutory bodies000000
Local governments364370164179199190
Net lending to:-6-3185-95
Local governments-6-3185-95
State NFPEs000000
State statutory bodies000000
Overall balance-353100-3-1,692-530-376
Financing (net)353-10031,692530376
External000000
Domestic353-10031,692530376
Borrowing from federal government880444433549907395
Other borrowing (including change in assets)-527-544-4301,143-377-19
Memorandum items:
Current balance (in percent of GDP)1.41.31.50.90.91.3
Overall balance (in percent of GDP)-0.10.00.0-0.5-0.1-0.1
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 13.Malaysia: Operations of Local Governments, 1998–2003(In millions of ringgit)
1998199920002001Prel.

2002
Revised

Budget

2003
Total revenue3,3433,5343,4105,5285,4005,299
Own revenue2,5862,7612,8022,3184,5963,535
Transfers from:7577736083,2108041,764
Federal government1511573602,9405091,465
Statutory bodies000000
State governments606616248270295299
Nonfinancial public enterprises (NFPE)000000
Total expenditure3,6843,8353,5134,9535,2675,794
Current expenditure2,2562,5732,4152,7772,9453,286
Development expenditure1,4281,2621,0982,1762,3222,508
Overall balance-341-301-103575133-495
Financing (net)341301103-575-133495
External000000
Domestic341301103-575-133495
Borrowing from federal government-15-11-13-4-7-10
Borrowing from state governments-6-3185-95
Other borrowing including change in assets36231598-576-117500
Memorandum items:
Current balance (in percent of GDP)0.40.30.30.80.70.5
Overall balance (in percent of GDP)-0.1-0.10.00.20.0-0.1
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 14.Malaysia: General Government Operations, 1998–2003 1/(In millions of ringgit)
1998199920002001Prel.

2002
Revised

Budget

2003
Total revenue and grants69,36970,88676,00391,63396,763105,599
Federal government56,71058,67561,86479,56783,51589,168
Statutory bodies3,2352,7203,5853,7603,5095,095
State governments6,8386,7307,7525,9885,1437,801
Local governments2,5862,7612,8022,3184,5963,535
Total expenditure and net lending71,66979,52395,312108,380113,289123,326
Total current expenditure50,83356,64665,72873,53378,73183,798
Federal government39,51043,68351,62457,57562,13265,052
Statutory bodies4,6925,7746,5197,9678,6599,495
State governments4,3754,6165,1705,2144,9955,965
Local governments2,2562,5732,4152,7772,9453,286
Total direct development expenditure 2/22,43624,21030,78436,28636,45340,560
Federal government15,69417,97521,59326,49726,71729,581
Statutory bodies1,3571,5163,1753,0883,8413,352
State governments3,9573,4574,9184,5253,5735,119
Local governments1,4281,2621,0982,1762,3222,508
Net lending 3/-1,600-1,333-1,200-1,439-1,895-1,032
Adjustments for accounts payable 3/000000
Overall balance-2,300-8,637-19,309-16,747-16,526-17,727
Financing2,3008,63719,30916,74716,52617,727
External1,5712,6814856,2958,022-4,391
Domestic (including change in assets)7295,95618,82410,4528,50422,118
Memorandum items:
Current balance (in percent of GDP)6.44.52.85.24.85.4
Overall balance (in percent of GDP)-0.8-2.9-5.6-5.0-4.6-4.6
Federal government net lending (other)-2,387-1,536-891-1,624-1,764-737
Source: Data provided by the Malaysian authorities.

Includes federal, state, and local governments, and the statutory bodies.

Excludes net lending.

Includes expenditure refunds, net lending and, from 2001, accounts payable.

Source: Data provided by the Malaysian authorities.

Includes federal, state, and local governments, and the statutory bodies.

Excludes net lending.

Includes expenditure refunds, net lending and, from 2001, accounts payable.

Table 15.Malaysia: Operations of Nonfinancial Public Enterprises, 1998–2003 1/(In millions of ringgit)
1998199920002001Prel.

2002
Revised

Budget

2003
Operating surplus27,42540,72745,28339,68345,61146,992
Transfers from:3,5074,0824,079199287349
Federal government3,5074,0824,079199287349
Statutory bodies000000
State governments000000
Local governments000000
Surplus net of transfers23,91836,64541,20439,48445,32446,643
Development expenditure29,65925,45823,36024,03225,53625,536
Overall balance-2,23415,26921,92315,65113,31411,627
Financing2,234-15,269-21,923-15,651-13,314-11,627
External-2792,6632,250317-8350
Domestic2,513-17,932-24,173-15,968-12,479-11,627
Borrowing from federal government781200-291190-140-290
Borrowing from state governments000000
Other (including changes in assets)1,732-18,132-23,882-16,158-12,339-11,337
Memorandum items:
Current balance (in percent of GDP)9.713.513.211.912.612.2
Development expenditure (in percent of GDP)10.58.56.87.29.09.2
Overall balance (in percent of GDP)-0.85.15.24.63.62.9
Source: Data provided by the Malaysian authorities.

Consists of 36 major nonfinancial public enterprises.

Source: Data provided by the Malaysian authorities.

Consists of 36 major nonfinancial public enterprises.

Table 16.Malaysia: Consolidated Public Sector, 1998–2003 1/
1998199920002001Prel.

2002
Revised

Budget

2003
(In millions of ringgit)
Total revenue and grants93,287107,531117,207131,117142,087152,242
Federal government56,71058,67561,86479,56783,51589,168
Statutory bodies3,2352,7203,5853,7603,5095,095
State governments6,8386,7307,7525,9885,1437,801
Local governments2,5862,7612,8022,3184,5963,535
Nonfinancial public enterprise (NFPE) operating surplus23,91836,64541,20439,48445,32446,643
Total expenditure and net lending97,040100,699114,884132,023145,439158,632
Total current expenditure 2/50,83356,64665,72873,53378,73183,798
Federal government39,51043,68351,62457,57562,13265,052
Statutory bodies4,6925,7746,5197,9678,6599,495
State governments4,3754,6165,1705,2144,9955,965
Local governments2,2562,5732,4152,7772,9453,286
Total direct development expenditure 3/48,58845,58650,06560,11968,46375,576
Federal government12,18713,89317,51426,29826,43029,232
Statutory bodies1,3571,5163,1753,0883,8413,352
State governments3,9573,4574,9184,5253,5735,119
Local governments1,4281,2621,0982,1762,3222,508
NFPEs29,65925,45823,36024,03232,29735,365
Net lending-2,381-1,533-909-1,629-1,755-742
Adjustment for accounts payable000000
Overall public sector balance-3,7536,8322,323-906-3,352-6,390
Federal government5,0131,099-7,274-4,306-5,047-5,116
Statutory bodies-2,814-4,570-6,109-7,295-8,991-7,752
State governments-1,494-1,343-2,336-3,751-3,425-3,283
Local governments-1,098-1,074-711-2,635-671-2,259
NFPEs (including net lending and account payable)-3,36012,72018,75317,08114,78212,020
Financing3,753-6,832-2,3239063,3526,390
Net external borrowing1,2925,3442,7356,6127,187-4,391
(In US$ million)3401,4067201,7401,891-1,156
Net domestic borrowing (including change in assets)2,461-12,176-5,058-5,706-3,83510,781
(In percent of GDP)
Total revenue and grants32.935.834.239.239.439.5
Total expenditure and net lending34.333.533.539.540.341.1
Total current expenditure 2/17.918.819.222.021.821.7
Total direct development expenditure 3/17.215.214.618.019.019.6
Net lending 4/-0.8-0.5-0.3-0.5-0.5-0.2
Adjustment for accounts payable 4/0.00.00.00.00.00.0
Overall balance-1.32.30.7-0.3-0.9-1.7
Federal government1.80.4-2.1-1.3-1.4-1.3
Statutory bodies-1.0-1.5-1.8-2.2-2.5-2.0
State governments-0.5-0.4-0.7-1.1-0.9-0.9
Local governments-0.4-0.4-0.2-0.8-0.2-0.6
NFPEs (including net lending and account payable)-1.24.25.55.14.13.1
Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Consists of the federal, state, and local governments, statutory bodies, and NFPEs.

Excludes net lending.

Excludes capital revenue and foreign grants.

Includes expenditure refunds, net lending and, from 2001, account payable.

Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Consists of the federal, state, and local governments, statutory bodies, and NFPEs.

Excludes net lending.

Excludes capital revenue and foreign grants.

Includes expenditure refunds, net lending and, from 2001, account payable.

Table 17.Malaysia: Outstanding Public Sector Debt, 1998–2002 1/
1998199920002001Prel.

2002
(In millions of ringgit)
Federal government103,121112,119125,626145,724164,963
Domestic debt88,19793,750106,805121,396128,680
Foreign debt14,92418,36918,82124,32836,283
Official multilateral and bilateral 2/7,2317,2936,7816,6467,609
Market loans7,69311,07612,04017,68228,674
Statutory bodies (federal government guaranteed)6444432186731
Domestic debt32281775
Foreign debt6124152016026
Nonfinancial public enterprises (NFPEs)68,55477,18480,03385,42885,925
Domestic debt3/20,05724,07124,23721,43625,162
Of which: Guaranteed by federal government20,05724,07124,23721,43625,162
Foreign debt48,49753,11355,79663,99260,763
Of which: Guaranteed by federal government7,1877,3707,9197,6676,695
Total public sector debt172,319189,746205,877231,219250,919
Domestic debt 3/108,286117,849131,059142,839153,847
Of which: Guaranteed by federal government20,08924,09924,25421,44325,167
Foreign debt 4/64,03371,89774,81888,38097,072
Of which: Guaranteed by federal government7,7997,7858,1207,7276,721
(In percent of GDP)
Federal government36.437.336.743.645.7
Domestic debt3/31.131.231.236.335.7
External debt5.36.15.57.310.1
Official multilateral and bilateral 1/2.62.42.02.02.1
Market loans2.73.73.55.38.0
Statutory bodies0.20.10.10.00.0
Domestic debt0.00.00.00.00.0
External debt (federal government guaranteed)0.20.10.10.00.0
NFPEs24.225.723.425.623.8
Domestic debt 2/3/7.08.07.16.47.0
External debt18.717.716.319.116.8
Of which: Government guaranteed2.92.52.32.31.9
Total public sector debt60.863.160.169.269.6
Domestic debt 3/38.239.238.342.742.7
Of which: Government guaranteed7.18.07.16.47.0
External debt 4/22.623.921.826.426.9
Of which: Government guaranteed2.82.62.42.31.9
Memorandum items:(In millions of ringgit)
Additional identified debt guaranteed by the government (contingent)4,37616,19817,73624,43524,511
(In percent of GDP)1.55.45.27.36.8
Guaranteed domestic loans (for financial PEs)4,31616,19817,73618,55818,634
Infrastructure Development Bank01,5192,0243,1503,729
Danabarta2,60110,34411,64011,64011,140
PNB (a unit trust company)02,0002,0002,0002,000
Other financial Pes and statutory bodies 5/1,7752,3352,0721,7681,765
Contingent liabilities on privatized projects 6/0005,8775,877
Nominal GDP283,243300,764342,612334,309360,658
Sources: Data provided by the Malaysian authorities: and Fund staff estimates.

Consists of federal government, statutory bodies, and NFPEs.

Consists of project loans and suppliers credit.

Excludes nongovernment guaranteed domestic debt and debt of financial public enterprises.

Consists of medium-and long-term debt.

Malaysian Agriculture Bank, Bank Industri Malaysia, Malaysia Building Society, Syarikat Permodalan Kemajuan.

National Severage System, Seremban-Port Dickson Highway and Light Rail Transit System (STAR and PUTRA). For 2002, staff assumption.

Sources: Data provided by the Malaysian authorities: and Fund staff estimates.

Consists of federal government, statutory bodies, and NFPEs.

Consists of project loans and suppliers credit.

Excludes nongovernment guaranteed domestic debt and debt of financial public enterprises.

Consists of medium-and long-term debt.

Malaysian Agriculture Bank, Bank Industri Malaysia, Malaysia Building Society, Syarikat Permodalan Kemajuan.

National Severage System, Seremban-Port Dickson Highway and Light Rail Transit System (STAR and PUTRA). For 2002, staff assumption.

Table 18.Malaysia: Operations of the Employees´ Provident Fund, 1998–2002(In millions of ringgit)
19981999200020012002
Receipts25,91429,02931,48630,05329,932
Contributions16,49918,40520,95420,53521,432
Investment income9,37010,57510,4949,4818,451
Other4549383749
Expenditure8,9037,61310,65222,88812,769
Withdrawals8,7097,36810,40022,53912,439
Operating expenditure194245252349330
Balance17,01121,41620,8347,16517,163
(In percent of GDP)6.07.16.12.14.8
Holding of government securities45,67051,81361,76668,33972,980
(Changes in the holding of government securities)7,3336,1439,9536,5734,641
Registered employees (in thousands)9,1609,5409,97010,18010,230
Registered employers (in thousands)298303318328340
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 19.Malaysia: Direction of Financial Institution Lending, 1998–2002
1998 1/1999 1/2000 1/2001 1/2002 1/1998199920002001200219981999200020012002
(In millions of ringgit)(percentage change)(Share of total loans, in percent)
Primary industries 2/9,65911,16613,68613,89613,4675.615.622.61.5-3.12.22.63.03.02.7
Commercial banks7,5569,13011,39611,86411,65110.120.824.84.1-1.81.82.12.52.52.4
FCs and MBs 3/2,1032,0362,2912,0321,815-7.8-3.212.5-11.3-10.60.50.50.50.40.4
Manufacturing65,74766,17368,36268,47567,2012.90.63.30.2-1.915.315.415.114.613.7
Commercial banks58,98160,18962,82262,84562,2836.22.04.40.0-0.913.714.013.813.412.7
FCs and MBs6,7675,9845,5405,6304,918-19.0-11.6-7.41.6-12.61.61.41.21.21.0
Electricity, gas, and water5,8617,4317,8075,3186,87931.226.85.0-31.929.31.41.71.71.11.4
Commercial banks5,0646,5227,0054,7796,01228.228.87.4-31.825.81.21.51.51.01.2
FCs and MBs79790980154086854.014.1-11.9-32.660.70.20.20.20.10.2
Commerce, restaurants, and hotels35,90536,83038,06038,45339,4862.32.63.31.02.78.48.68.48.28.1
Commercial banks30,98131,91533,65434,12535,1454.63.05.41.43.07.27.47.47.37.2
FCs and MBs4,9244,9144,4054,3284,342-9.9-0.2-10.4-1.80.31.11.11.00.90.9
Construction45,20642,85841,11239,91538,2035.4-5.2-4.1-2.9-4.310.510.09.18.57.8
Commercial banks32,22230,42030,36229,60428,7099.5-5.6-0.2-2.5-3.07.57.16.76.35.9
FCs and MBs12,98412,43810,75010,3109,494-3.5-4.2-13.6-4.1-7.93.02.92.42.21.9
Residential property 4/57,72863,08974,28287,051101,23011.09.317.717.216.313.414.716.418.520.6
Commercial banks44,71451,12361,77373,92587,09414.414.320.819.717.810.411.913.615.717.8
FCs and MBs13,01411,96612,50913,12614,1360.5-8.14.54.97.73.02.82.82.82.9
Nonresidential and real estate48,29248,70847,85048,60846,9503.40.9-1.81.6-3.411.211.310.510.39.6
Commercial banks35,84637,00136,86337,91937,1194.23.2-0.42.92.18.38.68.18.17.6
FCs and MBs12,44611,70710,98810,6909,8321.2-5.9-6.1-2.7-8.02.92.72.42.32.0
Transport, storage, communication15,32315,66613,93112,18411,79816.92.2-11.1-12.5-3.23.63.63.12.62.4
Commercial banks11,72912,01810,7519,5949,51835.02.5-10.5-10.8-0.82.72.82.42.01.9
FCs and MBs3,5943,6483,1802,5902,280-18.81.5-12.8-18.6-12.00.80.80.70.60.5
Finance, insurance, business services38,09434,01634,45535,16932,6705.1-10.71.32.1-7.18.97.97.67.56.7
Commercial banks31,18429,62530,64732,07729,7059.5-5.03.54.7-7.47.36.96.86.86.1
FCs and MBs6,9104,3913,8073,0922,964-11.2-36.5-13.3-18.8-4.11.61.00.80.70.6
Consumption credit (new format)49,59151,35659,72569,35881,382-14.53.616.316.117.311.511.913.214.716.6
Commercial banks17,30719,58420,86122,44524,386-4.813.26.57.68.74.04.54.64.85.0
FCs and MBs32,28531,77238,86446,91456,996-18.9-1.622.320.721.57.57.48.610.011.6
Purchase of securities37,92433,67633,61630,34930,570-2.8-11.2-0.2-9.70.78.87.87.46.56.2
Commercial banks24,64922,93923,17822,17323,4501.7-6.91.0-4.35.85.75.35.14.74.8
FCs and MBs13,27410,73710,4378,1767,120-10.1-19.1-2.8-21.7-12.93.12.52.31.71.5
Purchase of transport vehicles4,5051,9611,7393,6293,111-20.8-56.5-11.3108.6-14.31.00.50.40.80.6
Commercial banks207163224362466351.8-20.937.161.628.70.00.00.00.10.1
FCs and MBs4,2981,7981,5153,2672,646-23.8-58.2-15.8115.7-19.01.00.40.30.70.5
Community, social, and personal services6,6867,1796,2726,2525,918-2.77.4-12.6-0.3-5.31.61.71.41.31.2
Commercial banks4,8365,7234,9564,9184,7376.718.3-13.4-0.8-3.71.11.31.11.01.0
FCs and MBs1,8501,4561,3161,3341,181-20.9-21.3-9.61.4-11.50.40.30.30.30.2
Total loans (including NPLs sold)429,866430,468454,019470,480490,2891.30.15.53.64.2100.0100.0100.0100.0100.0
Commercial banks313,747324,245345,458356,480369,6507.13.36.53.23.773.075.376.175.875.4
FCs and MBs116,119106,223108,561114,000120,639-11.7-8.52.25.05.827.024.723.924.224.6
Total loans (excluding NPLs sold)417,074395,098416,298432,357452,194-1.7-5.35.43.94.6100.0100.0100.0100.0100.0
Commercial banks302,694295,332314,798325,072338,2423.3-2.46.63.34.172.674.775.675.274.8
FCs and MBs114,38099,766101,499107,285113,953-13.0-12.81.75.76.227.425.324.424.825.2
Source: Data provided by the Malaysian authorities.

Includes loans sold to Danaharta.

Agriculture, hunting, forestry, fishing, mining, and quarrying.

Finance companies and merchant banks.

Includes loans sold to Cagamas.

Source: Data provided by the Malaysian authorities.

Includes loans sold to Danaharta.

Agriculture, hunting, forestry, fishing, mining, and quarrying.

Finance companies and merchant banks.

Includes loans sold to Cagamas.

Table 20.Malaysia: Developments in Malaysian Exchanges, 1998–2002
19981999200020012002
Kuala Lumpur Stock Exchange (KLSE)
Indices (end-of-period value)
Composite (KLCI)586.1812.3679.6696.1646.3
(Percentage change)-1.438.6-16.32.4-7.2
EMAS146.9206.4159.8165.2157.3
(Percentage change)-2.840.5-22.63.4-4.8
Second Board158.4180.6133.0134.198.2
(Percentage change)-2.814.0-26.40.9-26.8
Turnover (RM billion) 1/
Main Board100.6171.5193.175.5102.6
Second Board14.613.729.29.514.2
Total 2/115.2185.2222.385.0117.0
Daily average (RM million)468.2747.0911.1348.4471.6
Turnover value/market capitalisation (in percent)30.833.550.018.324.3
Turnover (billion units) 1/
Main Board52.180.060.243.747.0
Second Board6.25.28.26.08.2
Total 1/58.385.268.449.755.6
Daily average (million units)236.9343.4280.1203.5224.3
Number of listed companies
Main Board454474499520561
Second Board282283296292292
MESDAQ Market 3/000012
Total736757795812865
Market concentration ratio (in percent) 4/
Main Board37.635.540.838.435.3
Second Board11.615.714.915.318.5
Composite index75.258.968.758.253.8
Market capitalization (RM billion)
Main Board353.4527.6423.9444.3464.5
Second Board21.125.120.520.716.4
MESDAQ Market00000.8
Total374.5552.7444.4465.0481.6
Total (in percent of GDP)132184130139134
Price/earnings ratio 5/
Main Board20.054.129.3
Second Board
Composite index60.057.816.523.418.0
Dividend yield (in percent)
Main Board2.81.62.52.62.7
Second Board1.61.01.61.41.6
Composite index2.71.62.22.52.7
Call warrants
Market valuation (RM billion)0.00.00.00.00.0
Turnover (RM million)0.00.00.00.00.0
Turnover (million units)0.00.00.00.00.0
Kuala Lumpur Options and Financial
Futures Exchange (KLOFFE)
Average daily volume (contracts) 6/3,1351,7611,5071,1820
Malaysia Monetary Exchange (MME) 7/
Average daily volume (contracts) 8/1010000
Commodity and Monetary Exchange of Malaysia (COMMEX)7/
Average daily volume (contracts) 9/01685144900
Malaysia Derivatives Exchange (MDEX) 10/
Average daily volume (contracts) 11/00033865192
Source: Data provided by the Malaysian authorities.

Based on market transactions only (excludes direct business).

Since 1995 total includes turnover of call warrants.

MESDAQ Market at KLSE was launched on 18 March 2002.

Value of ten largest equity issues as percent of total market capitalization of respective Boards.

“…” denotes negative PIE ratio.

KLSE Composite Index futures contracts.

MME and Commodity and Monetary Exchange of Malaysia merged to become COMMEX on December 7, 1998.

Three-month Klibor futures contracts.

All Exchange products (CPO futures and 3-month KLIBOR futures contract).

KLOFFE and COMMEX merged to form MDEX on June 2001.

All Exchange products (KLSE CI futures, CPO futures and 3-month KLIBOR futures contract, 5Yr MGS futures and KLSE CI Option contract).

Source: Data provided by the Malaysian authorities.

Based on market transactions only (excludes direct business).

Since 1995 total includes turnover of call warrants.

MESDAQ Market at KLSE was launched on 18 March 2002.

Value of ten largest equity issues as percent of total market capitalization of respective Boards.

“…” denotes negative PIE ratio.

KLSE Composite Index futures contracts.

MME and Commodity and Monetary Exchange of Malaysia merged to become COMMEX on December 7, 1998.

Three-month Klibor futures contracts.

All Exchange products (CPO futures and 3-month KLIBOR futures contract).

KLOFFE and COMMEX merged to form MDEX on June 2001.

All Exchange products (KLSE CI futures, CPO futures and 3-month KLIBOR futures contract, 5Yr MGS futures and KLSE CI Option contract).

Table 21.Malaysia: Funds Raised in the Capital Market, 1998–2002(In millions of ringgit)
19981999200020012002
Net funds raised by the public sector9,8046,29714,65917,0648,568
New issues17,68214,97519,96426,52319,476
Malaysian government securities (MGS)14,95010,00016,41323,08716,266
MGS advance subscriptions00000
Khazanah bonds2,7322,5981,5511,6300
Government investment certificates02,0002,0001,8052,738
Malaysia savings bonds037700472
Less: Redemptions7,8788,6785,3059,45910,908
Malaysian government securities6,2006,6765,2867,1008,900
Government investment certificates7502,00002,0002,000
Malaysia savings bonds9282193598
Less: Government holdings00000
Net funds raised by the private sector7,96321,12225,94922,46513,433
Shares1,7886,0966,0136,12313,291
Ordinary shares (net) 1/1,7886,0835,9295,28312,600
Initial public offers (IPOs)6851,0099921,6786,835
Rights issues7224,3473,8981,8923,271
Private placements/Restricted offer-for-sale3205199121,6812,402
Special issues 2/612081263392
Preference shares00000
Warrants1484840691
Debt securities (net) 3/6,17515,02619,93616,342142
New issues14,15227,77630,39536,69734,279
Straight bonds10,23818,18212,94014,3607,763
Bonds with warrants150947913300
Convertible bonds992,4871,3861,4932,852
Islamic bonds3451,7347,66613,50113,829
Cagamas bonds3,3204,4258,4036,4309,535
Less: Redemptions7,97612,75010,45920,35534,137
Private debt securities 4/2,9646,2806,20515,04028,770
Cagamas bonds5,0126,4704,2545,3155,367
Total net issues17,76727,41940,60839,53022,001
Net short-term securities-155-363-1,482-2,093-2,405
New issues86,89082,22466,35350,35139,656
Commercial paper70,04561,59952,02739,38129,641
Cagamas notes16,84520,62514,32610,97010,015
Less: Redemptions87,04582,58767,83552,44442,061
Commercial paper71,71062,15251,42040,41731,311
Cagamas notes15,33520,43516,41512,02710,750
Total including short-term securities17,61227,05539,12637,43619,596
Source: Data provided by the Malaysian authorities.

Excludes funds raised by the exercise of Employee Share Options scheme, transferable subscription rights, warrants, and irredeemable convertible unsecured loan stocks.

Issues to bumiputra investors and selected other investors.

Excludes bonds issued by the banking institutions.

Includes all straight bonds, bonds with warrants, convertible, and Islamic bonds.

Source: Data provided by the Malaysian authorities.

Excludes funds raised by the exercise of Employee Share Options scheme, transferable subscription rights, warrants, and irredeemable convertible unsecured loan stocks.

Issues to bumiputra investors and selected other investors.

Excludes bonds issued by the banking institutions.

Includes all straight bonds, bonds with warrants, convertible, and Islamic bonds.

Table 22.Malaysia: Balance of Payments, 1997–2002
19971998199920002001Prel.

2002
(In billions of U.S. dollars)
Current account balance-5.99.512.68.57.37.2
Trade balance3.717.622.620.818.418.1
Exports, f.o.b.77.471.884.198.488.093.4
Imports, f.o.b.73.754.261.577.669.675.2
Services and income balance-8.1-5.7-8.3-10.4-8.9-8.2
Net transfers1.5-2.4-1.7-1.9-2.2-2.8
Capital account balance2.2-2.6-6.6-6.3-3.9-3.1
Medium- and long-term flows, net6.82.73.32.72.62.7
Public sector, net1.70.51.81.01.91.2
Net federal government-0.60.50.80.21.72.1
Drawings0.21.01.31.31.92.8
Repayments0.80.60.51.00.20.6
Net other public sector2.30.11.01.00.2-0.9
Drawings3.31.11.62.02.80.9
Repayments1.11.10.61.02.61.8
Private sector, net5.12.21.51.70.71.5
Short-term flows, net-4.6-5.3-9.9-9.0-6.5-5.8
Net errors and omissions 1/-2.3-2.5-1.3-3.2-2.4-0.3
Overall balance-6.04.54.7-1.01.03.7
Gross official reserves21.726.230.929.930.834.6
(In months of following years imports)3.84.13.94.14.04.3
(As a percentage of short-term debt) 2/147.4209.7298.4312.4276.2230.9
(In percent of GDP)
Current account balance-5.913.215.99.48.37.6
Trade balance3.624.428.623.120.919.1
Services and income balance-8.1-7.9-10.5-11.6-10.2-8.6
Capital account balance2.2-3.5-8.4-7.0-4.4-3.3
Net foreign direct investment3.62.64.94.20.63.4
Net short-term flows-4.6-7.3-12.5-10.0-7.4-6.1
Net errors and omissions 1/-2.3-3.4-1.6-3.5-2.8-0.3
Overall balance-6.06.25.9-1.11.13.9
Sources: Data provided by the Malaysian authorities; CEIC database; and Fund staff estimates.

Includes portfolio investment for years prior to 1998.

By remaining maturity.

Sources: Data provided by the Malaysian authorities; CEIC database; and Fund staff estimates.

Includes portfolio investment for years prior to 1998.

By remaining maturity.

Table 23.Malaysia: Commodity Exports, 1997–2002 1/(In millions of U.S. dollars, unless otherwise indicated)
199719981999200020012002
Rubber1,071723617677496656
Volume (’000 tonnes)1,018989984978822928
Unit value (cents/kg)1057363696071
Tin 2/174123129114121112
Volume (tonnes)31,65322,37624,02620,61427,27027,076
Unit value (US$/tonne)5,4855,5145,3755,5504,4474,135
Saw logs840475701655401471
Volume (’000 m3)6,3965,4186,7386,4844,8344,873
Unit value (US$/m3)131881041018397
Sawn timber1,005644739795598586
Volume (’000 m3)3,0672,6832,8182,8762,4112,335
Unit value (US$/m3)328240262276248251
Palm oil 3/3,8494,5343,8092,6182,5993,905
Volume (’000 tonnes)7,5917,5138,9648,86310,46710,854
Unit value (US$/tonne)507603425295248360
Crude petroleum 4/2,5151,9172,4493,7482,9263,053
Volume (’000 tonnes)15,87218,01317,72516,67215,07716,192
Unit value (US$/tonne)158106138225194189
LNG2,3441,5251,6713,0062,9262,602
Volume (’000 tonnes)15,23314,67115,08815,43015,42315,007
Unit value (US$/tonne)154104111195190173
Major commodity exports11,7999,94110,11411,61210,06711,385
Manufactured exports63,74060,79771,50883,66075,08378,598
Other exports3,2062,5402,9992,9572,7963,195
Total exports (trade basis)78,74573,27884,62198,22987,96993,178
Memorandum item:
Total exports (b.o.p. basis)77,39071,80184,09798,43087,98193,383
Source: Data provided by the Malaysian authorities.

Customs data.

Includes tin-in-concentrate.

Excludes export of processed palm oil and other oil products.

Crude and partly refined.

Source: Data provided by the Malaysian authorities.

Customs data.

Includes tin-in-concentrate.

Excludes export of processed palm oil and other oil products.

Crude and partly refined.

Table 24.Malaysia: Manufactured Exports, 1997–2002(In millions of U.S. dollars)
19971998199920002001Prel.

2002
Electrical machinery, appliances, and parts42,38541,37551,32860,63952,71254,987
Semiconductors14,54213,93117,23318,71315,92919,093
Electronics equipment and parts14,14915,30720,89525,17920,81621,449
Electrical appliances13,69412,13713,20016,74715,96714,445
Transportation equipment1,7812,0851,346764639788
Food1,3051,1701,1871,1861,2221,420
Beverages and tobacco264234275318343336
Textiles, clothing, and footwear2,7072,4092,4912,7462,3832,255
Wood products2,3251,5281,8381,7901,5831,661
Rubber products1,4111,4661,3321,2361,1751,186
Paper and paper products268245299368347356
Petroleum products1,1987971,1882,1402,2132,005
Chemicals and chemical products2,9082,7172,9223,9503,9164,534
Nonmetallic mineral products619537590676655753
Metal manufactures2,0142,1142,0692,2682,2872,315
Optical and scientific equipment1,3801,2171,2721,7962,0532,145
Toys and sporting goods809737791907898946
Other manufactured exports2,3662,1662,5802,8762,6572,911
Total manufactured exports63,74060,79771,50883,66075,08378,598
Major commodity exports11,7999,94110,11411,61210,06711,385
Other exports3,2062,5402,9992,9572,8193,195
Total exports (trade basis)78,74573,27884,62198,22987,96993,178
Memorandum item:
Total exports (b.o.p. basis)77,39071,80184,09798,43087,98193,383
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 25.Malaysia: Gross Imports, 1997–2002 1/(In millions of U.S. dollars)
199719981999200020012002
Consumption goods4,9953,3523,9024,4844,3744,987
Food, primary661484536561642657
Food, processed1,3299691,0581,1391,2371,231
Transport equipment65924253346
Consumer goods2,9401,8902,2852,7592,4623,053
Capital goods15,5219,2398,38811,62410,86411,367
Transport equipment3,1241,6769185987021,329
Other capital goods12,3967,5637,47011,02610,16210,038
Intermediate goods51,92240,90148,32161,23353,63457,463
Food, primary536493523492543615
Food, processed613571530518669739
Industrial supplies, primary1,8961,2671,4401,6501,6161,612
Industrial supplies, processed17,82411,58114,04316,35114,68815,214
Fuel and lubricants, primary2962794651,4161,7041,429
Fuel and lubricants, processed1,3069051,0171,7651,3641,481
Capital goods parts and accessories28,21525,27829,55837,95631,58334,437
Transport equipment parts and accessori1,2355287461,0861,4671,936
Dual use goods2,2199741,2981,6821,5381,612
Fuel and lubricants674583429650649669
Transport equipment, passenger cars1,5453918691,033889942
Others1,7421,0781,1621,2241,5201,802
Retained imports76,39855,54463,07180,24871,93077,230
Imports for reexport2,6382,7492,3171,7151,9362,640
Total imports (trade basis) 1/79,03658,29365,38981,96373,86679,871
Memorandum items:
Total imports (b.o.p. basis) 2/73,73854,15761,45277,60269,59875,248
Lumpy imports3,1562,9251,6986847091,280
Source: Data provided by the Malaysian authorities.

Customs data.

Trade basis imports arc c.i.f.; balance of payments basis imports are f.o.b.

Source: Data provided by the Malaysian authorities.

Customs data.

Trade basis imports arc c.i.f.; balance of payments basis imports are f.o.b.

Table 26.Malaysia: Oil and LNG Trade, 1997–2002 1/
199719981999200020012002
Oil trade, net (US$ million)1,6961,2672,0792,1761,5881,631
Exports3,7132,7143,6375,6514,9344,817
Crude (US$ million)2,5151,9172,4493,7482,9263,053
Volume (million barrels)121137135127115123
Products (US$ million)1,1987971,1882,1402,2132,005
Volume (’000 tonnes)6,2596,2407,1068,0259,6748,545
Imports2,0171,4471,5593,4753,3463,186
Crude (US$ million)1691743571,3161,5501,257
Volume (million barrels)101525536552
Products (US$ million)1,8481,2731,2022,1591,7961,929
Volume (’000 tonnes)9,2448,6677,9699,4407,8469,010
LNG exports
Exports (US$ million)2,3441,5251,6713,0062,9262,602
Volume (’000 tonnes)15,23314,67115,08815,43015,42315,007
Memorandum item:
Domestic crude production
(’000 barrels/day)714725691681666698
Source: Data provided by the Malaysian authorities.

Figures are reported on a trade basis.

Source: Data provided by the Malaysian authorities.

Figures are reported on a trade basis.

Table 27.Malaysia: Direction of Trade, 1997–2002(In percent)
19971998199920002001Prel.

2002
Exports
ASEAN countries27.523.923.526.224.825.7
Singapore20.117.016.518.416.917.1
Japan12.410.611.613.113.311.2
India1.52.42.42.01.81.9
Australia1.72.32.42.52.32.3
European Union14.516.215.713.713.612.4
United States18.621.721.920.520.219.6
Other23.823.022.522.123.927.0
Total100100100100100100
Imports
ASEAN countries20.322.623.424.022.622.8
Singapore13.113.614.014.412.612.0
Japan22.019.720.821.019.217.8
India1.00.80.80.91.00.8
Australia2.52.22.31.92.11.8
European Union14.111.911.710.812.811.4
United States16.819.617.416.616.017.1
Other23.323.323.624.826.228.4
Total100100100100100100
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 28.Malaysia: Services Account, 1999–2002(In millions of U.S. dollars)
1999200020012002
Transportation (net)-2,227-3,088-2,987-3,037
Receipts2,4922,8022,7482,854
Payments-4,720-5,890-5,736-5,892
Travel (net)1,6142,9364,2494,500
Receipts3,5885,0116,8637,118
Payments-1,973-2,075-2,614-2,618
Other (net) 1/-2,209-2,639-3,470-2,958
Receipts5,7195,9984,7194,781
Payments-7,929-8,638-8,189-7,739
Government, n.i.e. (net)6-167-75
Receipts120128124125
Payments-114-145-118-199
Total services (net)-2,816-2,808-2,202-1,570
Receipts11,91913,94014,45514,878
Payments-14,736-16,748-16,657-16,448
Investment income (net)-5,336-7,351-6,476-6,285
Receipts1,6801,6441,4801,704
Payments-7,016-8,995-7,956-7,989
Compensation of employees (net)-161-257-267-310
Receipts323342367435
Payments-484-599-634-745
Total income (net)-5,496-7,608-6,743-6,595
Receipts2,0031,9861,8472,139
Payments-7,499-9,594-8,590-8,734
Total services and income (net)-8,312-10,416-8,944-8,165
Receipts13,92315,92616,30217,017
Payments-22,235-26,341-25,246-25,182
Source: Data provided by the Malaysian authorities.

Includes contract and professional charges, agency fees, commissions, rents, royalties, and salaries.

Source: Data provided by the Malaysian authorities.

Includes contract and professional charges, agency fees, commissions, rents, royalties, and salaries.

Table 29.Malaysia: Financial Account, 1999–2002(In millions of U.S. dollars)
1999200020012002
Direct investment2,4731,7622871,298
Abroad-1,422-2,026-267-1,905
Equity capital-641-812-29-1,113
Reinvested earnings-87137147
Other capital-694-1,351-384-792
In reporting economy3,8953,7885543,203
Equity capital1,512674-8543,209
Reinvested earnings1,9073,0022,491
Other capital476112-1,083-5
Portfolio investment-1,156-2,472-649-1,712
Assets-188-10719-737
Equity securities23-56134-43
Debt securities-211-52-115-694
Liabilities-427-2,365-668-975
Equity securities50-2,118-1,552-55
Debt securities-477-247883-920
Other investment-7,936-5,565-3,531-2,729
Public sector 1/1,7621,0361,8721,242
Drawings2,8533,0774,6693,671
Repayments1,0912,0412,7972,429
Banks-2,879-1,811-1,0892,149
Other private sectors-6,820-4,790-4,314-6,121
Long-term-920-64474166
Short-term-423-455756-1,242
Other 2/-5,477-4,271-5,544-4,713
Sources: Data provided by the Malaysian authorities.

Comprised mainly of medium- and long-term loans of federal government and nonfinancial public enterprises.

Other flows owing to leads or lags in the repatriation of export proceeds.

Sources: Data provided by the Malaysian authorities.

Comprised mainly of medium- and long-term loans of federal government and nonfinancial public enterprises.

Other flows owing to leads or lags in the repatriation of export proceeds.

Table 30.Malaysia: International Reserves, 1997–2002(In millions of U.S. dollars)
199719981999200020012002
Central bank (net)21,70426,16430,85429,87930,84334,577
Foreign assets 1/21,70626,16830,85929,88630,84834,583
Gold and foreign exchange 1/20,93525,33329,93828,90429,88033,557
Reserve position in IMF595626834871840873
SDRs17620987110128154
Foreign liabilities245666
Government and other official entities (net)343433313033
Foreign assets343433313033
Foreign liabilities000000
Total official (net)21,73826,19830,88729,91030,87234,610
Foreign assets21,74026,20230,89229,91630,87834,616
Foreign liabilities245666
Commercial banks (net)-6,585-3,564-4858651,225-799
Assets6,2655,7486,5547,8577,4447,857
Liabilities12,8499,3127,0396,9926,2198,656
Memorandum items:
Gold (in millions of troy ounces)2.42.41.21.21.21.2
Gross official reserves (in months of the following year’s imports) 2/3.84.13.94.14.04.5
Source: Data provided by the Malaysian authorities.

Includes revaluation gains.

Imports of goods and services.

Source: Data provided by the Malaysian authorities.

Includes revaluation gains.

Imports of goods and services.

Table 31.Malaysia: Disbursed and Outstanding External Debt by Borrower, 1997–2002(In millions of U.S. dollars)
199719981999200020012002
Total medium- and long-term debt
Beginning of period28,69232,73435,29936,76537,75239,319
Net drawings4,7541,4561,4151,4522,447174
Drawings8,9715,3375,6346,1578,2866,184
Amortization 1/4,2173,8814,2504,7055,8396,010
Adjustment-7111,10982-465-879917
End of period32,73435,29936,76537,75239,31940,410
Total public sector debt
Beginning of period15,67516,79517,40719,84020,62824,143
Net drawings1,6654391,7821,2491,8841,246
Drawings3,4952,1032,8533,2864,8273,716
Amortization 1/1,8301,6641,0712,0362,9432,470
Adjustment-545173651-4611,6311,089
End of period16,79517,40719,84020,62824,14326,477
Government debt
Beginning of period4,1333,3253,9274,8344,9536,402
Net drawings-5984647692271,6572,111
Drawings1641,0201,2531,2541,8502,754
Amortization 1/7625564841,027193643
Adjustment-210139137-109-2071,035
End of period3,3253,9284,8344,9536,4029,548
Nongovernment public sector debt 2/3/
Beginning of period11,54213,47013,47915,00615,67517,741
Net drawings2,263-251,0131,022228-865
Drawings3,3311,0831,6002,0312,977962
Amortization 1/1,0691,1085871,0092,7491,827
Adjustment-33534513-3521,83853
End of period13,47013,47915,00615,67517,74116,929
Private sector debt 3/
Beginning of period13,01615,93917,89216,92517,12315,176
Net drawings3,0891,017-399202563-1,072
Drawings5,4753,2342,7812,8713,4602,468
Amortization 1/2,3862,2173,1792,6682,8973,539
Adjustment-166936-569-4-2,510-171
End of period 4/15,93917,89216,92517,12315,17613,933
Short-term debt (end of period) 5/11,1069,4265,9034,6296,3128,425
Public sector000000
Commercial banks 6/8,2875,3523,3322,4403,1385,762
Nonbank financial institutions 7/2,8194,0742,5712,1893,1742,663
Other private sector000000
Total external debt (end of period)43,84044,72542,66742,38045,63148,835
Medium- and long-term32,73435,29936,75637,75239,31940,410
Short-term11,1069,4265,9034,6296,3128,425
Source: Data provided by the Malaysian authorities.

Includes prepayments and refinancing.

Includes both loans guaranteed by the federal government and loans not guaranteed by the government.

Following privatization, debt owed by Malaysia Airlines System was shifted from nonfinancial public enterprise debt to private sector debt in 1994.

About RM 2.7 billion ($711 million) of private sector medium- and long-term loans was reclassified as a short-term loan in 1998.

Obligations of less than one-year maturity.

Refers to amounts borrowed by commercial banks.

Includes other private sector debt.

Source: Data provided by the Malaysian authorities.

Includes prepayments and refinancing.

Includes both loans guaranteed by the federal government and loans not guaranteed by the government.

Following privatization, debt owed by Malaysia Airlines System was shifted from nonfinancial public enterprise debt to private sector debt in 1994.

About RM 2.7 billion ($711 million) of private sector medium- and long-term loans was reclassified as a short-term loan in 1998.

Obligations of less than one-year maturity.

Refers to amounts borrowed by commercial banks.

Includes other private sector debt.

Table 32.Malaysia: Medium- and Long-Term External Debt, 1997–2002
199719981999200020012002
(In millions of U.S. dollars)
Total medium- and long-term debt32,73435,29936,76537,75239,31940,411
Official creditors3,0273,5474,0643,8583,4824,159
Financial institutions8331,3631,3741,4852,1982,898
Bonds and FRN 1/11,25311,54813,85514,58614,61514,215
Suppliers’ credits2113400481
Unallocated17,60118,82817,46817,82419,02318,657
Total public sector debt16,79517,40719,84020,62824,14326,477
Official creditors3,0273,5474,0643,8583,4824,159
Bilateral1,7442,0442,6342,5052,1742,910
Multilateral1,2831,5031,4301,3531,3081,249
IMF000000
Financial institutions8331,3631,3741,4832,1982,898
Bonds and FRN 1/9,4379,77012,24812,70012,85813,134
Suppliers’ credits2113400481
Unallocated3,4782,7142,1492,5875,6055,805
Government debt3,3253,9284,8344,9536,4029,548
Official creditors1,6641,9031,9191,7841,7492,002
Bilateral544538603524514809
Multilateral1,1191,3651,3171,2601,2351,193
IMF000000
Financial institutions2809121,0551,0161,5412,857
Bonds and FRN 1/1,3821,1121,8602,1523,1134,689
Government-guaranteed debt2,3372,5082,8682,9412,7912,679
Official creditors1,3631,6442,1452,0741,7332,157
Bilateral1,1991,5062,0321,9811,6602,101
Multilateral164138113937356
Financial institutions55345131946765841
Bonds and FRN 1/4004004004004000
Suppliers’ credits2113400481
Other public sector debt11,13310,97112,13812,73414,95014,250
Bonds and FRN 1/7,6558,2579,98810,1489,3458,445
Unallocated3,4782,7142,1492,5875,6055,805
Private sector debt15,93917,89216,92517,12315,17613,933
Bonds and FRN 1/1,8151,7781,6071,8861,7581,081
Unallocated14,12316,11415,31815,23713,41912,852
(In percent)
By borrower:
Public sector debt51.349.354.054.661.465.5
Government debt10.211.113.113.116.323.6
Government-guaranteed debt7.17.17.87.87.16.6
Other public sector debt34.031.133.033.738.035.3
Private sector debt48.750.746.045.438.634.5
By lender:
Official creditors9.210.011.110.28.910.3
Bilateral5.35.87.26.65.57.2
Multilateral3.94.33.93.63.33.1
IMF0.00.00.00.00.00.0
Financial institutions2.53.93.73.95.67.2
Bonds and FRN 1/34.432.737.738.637.235.2
Suppliers credits0.10.00.00.00.01.2
Unallocated53.853.347.547.248.446.2
Source: Data provided by the Malaysian authorities.

Floating rate notes.

Source: Data provided by the Malaysian authorities.

Floating rate notes.

Table 33.Malaysia: External Debt Service by Borrower, 1997–2002
199719981999200020012002
(In millions of U.S. dollars)
Total debt service 1/5,2325,9366,1356,3776,8686,988
Amortization 1/2,9583,7864,1384,0964,9375,084
Public sector9521,6641,0711,6862,2692,470
Government 1/4385564841,027193643
Other public sector5141,1085876592,0751,827
Private sector2,0062,1233,0672,4102,6682,614
Interest2,2742,1501,9962,2811,9311,904
Medium- and long-term debt1,5571,5501,5941,8721,6701,705
Public sector8889419571,2091,2431,397
Government 2/226263232312303495
Other public sector662678725897941903
Private sector 3/668609637662427308
Short-term debt717600402409261199
(In percent of goods and services exports)
Debt-service ratio 1/5.57.06.35.66.66.3
Amortization 1/3.14.54.23.64.74.6
Public sector1.02.01.11.52.22.2
Government 1/0.50.70.50.90.20.6
Other public sector0.51.30.60.62.01.7
Private sector2.12.53.12.12.62.4
Interest2.42.52.02.01.91.7
Medium- and long-term debt1.61.81.61.61.61.5
Public sector0.91.11.01.11.21.3
Government0.20.30.20.30.30.4
Other public sector0.70.80.70.80.90.8
Private sector0.70.70.60.60.40.3
Short-term debt0.70.70.40.40.30.2
(In millions of U.S. dollars)
Memorandum items:
Prepayments of federal government market loans32400000
IMF net purchases000000
Federal government net drawing, excluding IMF-5984647692271,6572,111
Source: Data provided by the Malaysian authorities.

Excludes prepayments and refinancing.

Includes commitment fees and other charges on government loans.

Based on survey data collected by the Department of Statistics.

Source: Data provided by the Malaysian authorities.

Excludes prepayments and refinancing.

Includes commitment fees and other charges on government loans.

Based on survey data collected by the Department of Statistics.

Table 34.Malaysia: Summary of External Debt and Debt Service, 1997–2002
19971998199920002001Prel.

2002
(In millions of U.S. dollars)
Total external debt (end of period)43,84044,72647,66742,38045,63148,835
Medium- and long-term 1/32,73435,29936,76537,75239,31940,410
Public sector16,79517,40719,84020,62824,14326,477
Government and government-guaranteed5,6626,4367,7027,8949,19312,227
Federal government3,3253,9284,8344,9536,4029,548
Official creditors1,6631,9031,9191,7841,7492,002
IMF000000
Financial institutions2809121,0551,0161,5412,857
Bonds and floating rate notes1,3821,1121,8602,1523,1134,689
Other private creditors 2/
Other government2,3372,5082,8682,9412,7912,679
Other public sector11,13310,97112,13812,73414,95014,250
Private sector15,93917,89216,92517,12315,17613,933
Short-term debt11,1069,4265,9024,6296,3128,425
Debt service
Medium- and long-term4,5155,3375,7335,9686,6076,789
Public sector1,8412,6052,0292,8963,5123,868
Amortization 3/9521,6641,0711,6862,2692,470
Federal government4385564841,027193643
Other5141,1085876592,0751,827
Interest8889419571,2091,2431,397
Federal government226263232312303495
Other662678725897941903
Private sector2,6742,7323,7043,0723,0952,921
Amortization2,0062,1233,0672,4102,6682,614
Interest668609637662427308
Short-term717600402409261199
(In percent of GDP)
Debt/GDP ratio43.862.053.947.051.951.5
Medium- and long-term32.748.946.541.944.742.6
Public16.824.125.122.927.427.9
Federal government3.35.46.15.57.310.1
Private15.924.821.419.017.314.7
Short-term11.113.17.55.17.28.9
(In percent of exports of goods and services)
Debt-service ratio5.57.06.35.66.66.3
Medium- and long-term debt4.76.35.85.26.36.1
Public sector1.93.12.12.53.43.5
Federal government0.71.00.71.20.51.0
Private sector2.83.23.82.73.02.6
Short-term debt0.70.70.40.40.30.2
Source: Data provided by the Malaysian authorities.

Original maturity of one year and over.

Suppliers’ credits.

Excludes prepayments and refinancing.

Source: Data provided by the Malaysian authorities.

Original maturity of one year and over.

Suppliers’ credits.

Excludes prepayments and refinancing.

Table 35.Projected Debt-Service Payments on Loans Already Committed, 2003–08 1/(In millions of U.S. dollars)
200320042005200620072008
Amortization7,2954,6034,7983,3524,1472,531
Federal government2,1304051,3964031,491677
Project218251255246268254
Market1,9121551,1401571,224424
Nonfinancial public enterprises2,9272,5251,7981,9041,4651,206
Guaranteed296362355341324225
Nonguaranteed2,6312,1631,4431,5631,140981
Private sector2,2371,6731,6041,0451,190647
Interest1,6941,4621,2911,092955834
Federal government519507482419401364
Project10011394847363
Market419393388335327301
Nonfinancial public enterprises756596507409333271
Guaranteed935750413125
Nonguaranteed662539457368303247
Private sector419360302265221199
Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Based on medium- and long-term loans committed as of end-December 2000.

Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Based on medium- and long-term loans committed as of end-December 2000.

Table 36.Malaysia: Interbank Swap Transactions, 1998–2003 1/(In percent per annum, unless otherwise specified)
PeriodSpot Exchange Rate (RMI$) 2/Swap Margin 3/LIBOR Interest RateCost of Borrowing RM Through Interbank MarketOutstanding Foreign Exchange Swaps at Bank Nagara 4/
SwapMoney MarketDifference
Jan-984.54501855.67.310.0-2.70
Feb-983.67501596.38.011.0-3.00
Mar-983.64301915.87.911.0-3.10
Apr-983.73603855.89.911.3-1.40
May-983.87853655.89.611.0-1.40
Jun-984.17503306.19.311.2-1.90
Jul-984.14253256.09.310.8-1.50
Aug-984.22001506.17.69.5-1.90
Sep-983.8000-1305.94.77.5-2.80
Oct-983.8000-1255.23.94.8-0.90
Nov-983.8000-1855.03.06.7-3.70
Dec-983.8000-955.04.06.5-2.50
Jan-993.80004.94.86.5-1.70
Feb-993.8000105.05.16.5-1.40
Mar-993.8000-254.94.66.3-1.70
Apr-993.8000-1.604.93.24.0-0.80
May-993.8000-2455.02.53.4-1.00
Jun-993.8000-2555.32.83.4-0.60
Jul-993.8000-2605.32.63.4-0.80
Aug-993.8000-2655.52.73.3-0.50
Sep-993.8000-3906.03.03.2-0.20
Oct-993.8000-3106.23.03.2-0.20
Nov-993.8000-3036.12.93.2-0.30
Dec-993.8000-3006.02.93.2-0.40
Jan-003.8000-3106.02.83.2-0.40
Feb-003.8000-3156.12.83.1-0.30
Mar-003.8000-3156.32.93.1-0.20
Apr-003.8000-3406.42.93.2-0.30
May-003.8000-3806.82.73.1-0.40
Jun-003.8000-3656.72.93.1-0.20
Jul-003.8000-2886.63.03.2-0.20
Aug-003.8000-3126.63.33.30.00
Sep-003.8000-3186.73.33.30.00
Oct-003.8000-3326.73.33.20.10
Nov-003.8000-2956.63.63.20.40
Dec-003.8000-2556.23.53.20.30
Jan-013.8000-1905.53.53.30.20
Feb-013.8000-1764.93.13.00.10
Mar-013.8000-1504.83.23.00.20
Apr-013.8000-684.33.63.30.30
May-013.8000-483.93.53.30.2-1,482
Jun-013.8000-533.73.33.30.0-2.166
Jul-013.8000-403.73.33.30.0-722
Aug-013.8000-413.53.12.90.2-798
Sep-013.8000352.52.92.90.00
Oct-013.8000582.32.92.80.10
Nov-013.8000782.02.82.9-0.10
Dec-013.8000731.92.72.9-0.20
Jan-0238000851.92.82.80.00
Feb-023.8000841.82.72.8-0.10
Mar-023.8000662.02.72.8-0.10
Apr-023.8000781.92.72.8-0.10
May-023.8000871.92.82.80.00
Jun-023.8000931.92.82.80.00
Jan-023.8000971.82.82.80.00
Aug-023.8000991.82.82.80.00
Sep-023.80001251.83.12.80.30
Oct-023.8000961.72.72.8-0.10
Nov-023.80001251.42.72.8-0.10
Dec-023.80001231.42.72.8-0.10
Jan-033.80001371.42.82.80.00
Feb-033.80001391.32.82.80.00
Mar-033.80001491.32.82.80.00
Apr-033.80001441.32.82.80.00
May-033.80001411.32.72.8-0.10
Jun-033.80001411.12.52.8-0.30
Jul-033.80001481.12.62.8-0.20
Aug-033.80001481.12.72.8-0.10
Sep-033.80001441.12.62.8-0.20
Source: Data provided by the Malaysian authorities.

Representative three-month swap effected through foreign exchange brokers at the end of the month.

Average of commercial bank buying and selling rates at noon. end of period.

Ringgit per RM 10.000 over a three-month period; a positive number implies a forward premium and a negative number implies a forward discount on the U.S. dollar relative to the ringgit.

In millions of ringgit.

Source: Data provided by the Malaysian authorities.

Representative three-month swap effected through foreign exchange brokers at the end of the month.

Average of commercial bank buying and selling rates at noon. end of period.

Ringgit per RM 10.000 over a three-month period; a positive number implies a forward premium and a negative number implies a forward discount on the U.S. dollar relative to the ringgit.

In millions of ringgit.

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