Information about Asia and the Pacific Asia y el Pacífico
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Malaysia

Author(s):
International Monetary Fund
Published Date:
March 2005
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Information about Asia and the Pacific Asia y el Pacífico
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Introduction

Malaysia publishes a comprehensive set of reliable economic and financial statistics which are publicly available on government agencies websites or through private sector data providers. This statistical appendix presents only the data which are not readily available publicly.

The following internet sources can be referred to for additional economic and financial data:

Bank Negara Malaysia: http://www.bnm.gov.my

Treasury Malaysia: http://www.treasury.gov.my/index.html

Department of Statistics: http://www.statistics.gov.my/

Securities Commission: http://www.sc.com.my/

Bursa Malaysia: http://www.klse.com.my/

CEIC: Private sector data provider.

There are several other sources of data published by the authorities:

SourcePublication
Bank Negara MalaysiaMonthly Statistical Bulletin
Quarterly Statistical Bulletin
BNM Annual Report
Ministry of FinanceEconomic Report
Budget Speech
Property Market Report
Department of StatisticsYearbook of Statistics
Social Statistical Bulletin
Vital Statistics
Labor Force Survey Report
External Trade Summary
Business Expectations Survey
Quarterly Review of Malaysia Population Statistics
Ministry of Human ResourcesOccupational Wages Survey in the Manufacturing Sector
Ministry of Primary IndustriesProfile: Malaysia’s Primary Commodities
Department of Inland RevenueAnnual Report
Table 1.Malaysia: Industrial Production Index, 1998–2003
199819992000200120022003
(Index numbers: 1993 = 100)
Total144.9158.0188.3180.5188.8206.3
Mining123.6119.7119.4122.7124.9131.6
Electricity173.0179.6190.7207.1228.5241.7
Manufacturing148.6167.8209.7195.8204.7226.1
Food120.7127.6148.3154.7168.2183.0
Beverage129.9126.6134.2138.5121.9147.3
Tobacco118.899.8174.9164.4148.0153.8
Textile130.0135.8138.1131.5126.4120.6
Wearing apparel95.798.9119.2103.393.194.9
Crude oil refineries146.2140.5163.6204.4201.7205.2
Industrial chemical175.2183.7196.2198.9200.8231.2
Other chemical123.1134.9150.5146.6149.1167.0
Wood products107.499.6103.6104.998.699.5
Rubber products161.7167.5174.2180.0183.5217.9
Nonmetallic mineral126.4129.7156.3171.3180.0197.5
Iron and steel106.7146.2175.8182.6186.2210.3
Nonferrous metal177.5199.7212.7181.1188.0193.2
Fabricated metal145.6144.0192.6200.0201.7216.5
Electrical machinery and electronics167.7193.9272.4229.2247.8271.7
Transport equipment109.2167.4199.3237.1251.9238.0
(Annual percentage change)
Total-7.29.119.1-4.14.69.3
Mining1.0-3.1-0.32.81.85.4
Electricity3.43.86.18.610.35.7
Manufacturing-10.312.924.9-6.64.510.5
Food-2.15.716.24.38.78.8
Beverage-11.8-2.66.03.2-11.920.8
Tobacco-8.5-16.075.3-6.0-10.03.9
Textile-8.84.51.7-4.8-3.9-4.6
Wearing apparel1.13.320.6-13.4-9.81.9
Crude oil refineries-10.9-3.916.425.0-1.31.7
Industrial chemical-2.74.86.81.41.015.1
Other chemical-12.39.611.6-2.61.712.0
Wood products-11.3-7.34.01.2-6.00.9
Rubber products7.93.64.03.31.918.7
Nonmetallic mineral-26.52.620.59.65.19.7
Iron and steel-35.637.020.23.92.013.0
Nonferrous metal-8.312.56.5-14.83.82.8
Fabricated metal-17.2-1.133.73.90.87.4
Electrical machinery and electronics-7.715.640.5-15.98.19.6
Transport equipment-52.153.419.019.06.2-5.5
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, 1998–2003
199819992000200120022003
(In millions of ringgit)
Gross domestic investment75,55567,31793,71180,00685,98184,247
Private gross fixed capital formation44,02931,37544,10234,52829,37629,856
Oil and gas2,6692,9443,3924,2844,3404,535
Other41,36028,43140,71030,24425,03625,321
Public gross fixed capital formation31,95334,46643,62748,81754,38857,233
Of which:
Federal government8,98310,51614,14720,00621,47526,494
Statutory bodies1,3571,5163,0653,0883,8414,180
State governments3,9233,3104,3133,4602,8293,053
Local governments1,4281,2621,2252,1762,3222,482
Public enterprises16,26317,86220,87819,32623,92124,899
Change in stocks-4271,4765,982-3,3392,217-2,842
Gross national saving112,952115,211125,360107,764115,509136,394
Private sector69,30464,51769,96954,23052,01370,081
Public sector43,64850,69455,39153,53463,49666,313
(In percent of GDP)
Gross domestic investment26.722.427.323.923.821.4
Private gross fixed capital formation15.510.412.810.38.17.6
Oil and gas0.91.01.01.31.21.2
Other14.69.511.99.06.96.4
Public gross fixed capital formation11.311.512.714.615.014.5
Of which:
Federal government3.23.54.16.05.96.7
Statutory bodies0.50.50.90.91.11.1
State governments1.41.11.31.00.80.8
Local governments0.50.40.40.70.60.6
Public enterprises5.75.96.15.86.66.3
Change in stocks-0.20.51.7-1.00.6-0.7
Gross national saving39.938.336.532.231.934.6
Private sector24.521.520.416.214.417.8
Public sector15.416.916.116.017.616.8
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 3.Malaysia: Labor Market Developments, 1998–2003
199819992000200120022003
(In thousands)
Population22,19722,72923,26924,00524,52725,081
Total labor force8,8849,1529,6169,8929,88610,240
Labor force participation rate (in percent)64.364.265.265.364.565.2
Unemployment rate (in percent)3.23.43.13.63.53.6
Total employment8,6008,8389,3229,5269,5529,871
Primary sector1,6451,6621,7391,5261,4501,438
Agriculture, forestry, and fishery1,6171,6241,7121,4971,4221,408
Mining and quarrying283827292930
Secondary sector2,6542,7142,9253,0042,9773,074
Manufacturing1,9081,9912,1262,1552,0712,131
Construction746723799849907943
Tertiary sector4,3014,4624,6584,9965,1245,359
Electricity, gas, and water505048574858
Wholesale and retail services, hotels, and restaurants 1/1,6161,6611,7902,1072,1182,236
Transport, etc.422420423477496482
Finance, insurance, real estate and business services426466462582639628
Community, social and personal services1,7871,8651,9351,5641,5551,694
Private households with employed persons210267258
Extra-territorial organizations and bodies003
(Annual percentage change)
Total labor force1.13.05.12.9-0.13.6
Total employment0.42.85.52.20.33.3
Primary sector8.21.04.6-12.3-4.9-0.9
Agriculture, forestry, and fishery9.20.45.4-12.6-5.0-1.0
Mining and quarrying-28.235.7-28.95.90.14.8
Secondary sector-5.12.37.82.7-0.93.2
Manufacturing-4.74.46.81.4-3.92.9
Construction-5.9-3.110.56.26.84.0
Tertiary sector1.13.74.47.32.64.6
Electricity, gas, and water-2.00.0-4.019.2-16.621.6
Wholesale and retail services, hotels, and restaurants 1/2.42.87.817.70.55.5
Transport, etc.-0.2-0.50.712.74.1-2.9
Finance, insurance, real estate and business services-4.79.4-0.925.99.9-1.8
Community, social and personal services1.94.43.8-19.2-0.58.9
(Percentage share of total employment)
Total employment100.0100.0100.0100.0100.0100.0
Primary sector19.118.818.716.015.214.6
Agriculture, forestry, and fishery18.818.418.415.714.914.3
Mining and quarrying0.30.40.30.30.30.3
Secondary sector30.930.731.431.531.231.1
Manufacturing22.222.522.822.621.721.6
Construction8.78.28.68.99.59.6
Tertiary sector50.050.550.052.553.654.3
Electricity, gas, and water0.60.60.50.60.50.6
Wholesale and retail services, hotels, and restaurants 1/18.818.819.222.122.222.7
Transport, etc.4.94.84.55.05.24.9
Finance, insurance, real estate and business services5.05.35.06.16.76.4
Community, social and personal services20.821.120.816.416.317.2
Private households with employed persons2.22.82.6
Extra-territorial organizations and bodies0.00.00.0
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, 1998–2003
199819992000200120022003
(Number of registered unemployed persons (active))
Total33,34531,83027,82034,20032,30528,404
Production related 1/9,8457,9826,9827,0166,5746,414
Agricultural9564929311287
Services823517417560512511
Clerical14,71214,92812,96615,36715,97013,913
Professional and technical5,2815,3354,4387,9746,7785,436
Others 2/2,5893,0042,9253,1902,3592,043
(Percentage share of total registered unemployed)
Total100.0100.0100.0100.0100.0100.0
Production related 1/29.525.125.120.520.322.6
Agricultural0.30.20.30.30.30.3
Services2.51.61.51.61.61.8
Clerical44.146.946.644.949.449.0
Professional and technical15.816.816.023.321.019.1
Others 2/7.89.410.59.37.37.2
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 3/66.10
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 duty19.6419.6419.6419.6419.6419.64
Import duty19.6419.6419.6419.6419.6419.64
LPG (per kg)
Price 1/
Excise duty118.00118.00128.00128.00131.00133.00
Import duty0.000.000.000.000.000.00
Natural gas
Price (cents/kg) 4/
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, October 20, 2001, May 1, 2001, and November 1, 2002.

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

Prices of kerosene in 2001–03 are not available.

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, October 20, 2001, May 1, 2001, and November 1, 2002.

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

Prices of kerosene in 2001–03 are not available.

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

Table 6.Malaysia: Federal Government Revenue and Grants, 1999–2004
19992000200120022003Revised

Budget

2004
(In millions of ringgit)
Tax revenue45,34647,17361,49166,85964,89170,759
Taxes on net income and profits27,24629,15642,09844,35143,01646,424
Oil production companies2,8566,0109,8597,6368,46610,164
Corporate 1/17,82916,04422,73226,75726,50426,939
Individuals6,4197,0159,4369,8897,9848,042
Other142877169621,279
Taxes on goods and services10,67011,47213,41116,20215,03416,278
Sales tax4,4885,9687,3569,2437,9657,436
Selective excises on goods4,7233,8034,1294,7455,0316,042
Selective excises on services1,4591,7011,9262,2142,0382,800
Taxes on international trade5,3904,6314,0604,4715,0765,618
Import duties4,7203,5993,1933,6683,9194,036
Export duties6701,0328678031,1571,582
Other tax revenue2,0401,9141,9221,8351,7652,439
Nontax revenue12,67414,09317,30415,75923,13125,159
Property income8,98512,93316,05014,23521,83623,661
BNM dividend and other investment income3,2844,1462,96310,1027,299
Rent and interest (including road tax)3,9113,7863,9944,2824,4924,765
Dividends paid by Petronas4,1004,1005,9105,3905,1009,100
Petroleum royalties9741,7632,0001,6002,1422,497
Administrative fees, charges, and licenses576621640706719
Other nontax revenue598584633884589779
Capital revenue and grants 2/6555987728964,586999
Total revenue58,67561,86479,56783,51492,60896,917
Foreign grants000000
Total revenue and grants58,67561,86479,56783,51492,60896,917
(In percent of GDP)
Tax revenue15.113.718.418.516.516.0
Taxes on net income and profits9.18.512.612.310.910.5
Taxes on goods and services3.53.34.04.53.83.7
Taxes on international trade1.81.31.21.21.31.3
Other tax revenue0.70.60.60.50.40.6
Nontax revenue4.24.15.24.45.95.7
Capital revenue0.20.20.20.21.20.2
Total revenue and grants19.518.023.823.123.521.9
Memorandum items:
Gross domestic product (current prices)300,764343,215334,404361,624394,200442,483
Source: Data provided by the Malaysian authorities.

Includes real property gain tax and other levies on income.

Includes nonrevenue receipts and federal territory revenue.

Source: Data provided by the Malaysian authorities.

Includes real property gain tax and other levies on income.

Includes nonrevenue receipts and federal territory revenue.

Table 7.Malaysia: Economic Classification of Federal Government Expenditure and Net Lending, 1999–2004
19992000200120022003Revised

Budget

2004
(In millions of ringgit)
Current expenditure 1/49,06957,82964,99171,11578,75194,350
On personnel, goods, and services23,30225,57130,71834,89640,62543,634
Wages and salaries14,43616,35717,44320,24221,72121,814
Other goods and services 2/8,8669,21413,27514,65418,90421,820
Interest payments 3/7,9419,0559,6349,66910,54611,655
Subsidies and other current transfers17,82623,20324,63926,55027,58039,061
Transfers to state governments1,7092,0772,0122,5342,1252,960
Pensions3,7924,1874,7115,1345,8706,174
Other current transfers 4/12,32516,93917,91618,88219,58529,927
Development expenditure19,09323,75032,99932,65234,78522,481
Direct development expenditure20,24526,65934,00233,56035,82628,305
Net lending 5/-1,152-2,909-1,003-908-1,041-5,824
Adjustment for accounts payable000000
Total expenditure and net lending68,16281,57997,990103,767113,536116,831
(In percent of total expenditure and net lending)
Current expenditure 1/72.070.966.368.569.480.8
On personnel, goods, and services34.231.331.333.635.837.3
Wages and salaries21.220.117.819.519.118.7
Other goods and services 2/13.011.313.514.116.718.7
Interest payments 3/11.711.19.89.39.310.0
Subsidies and other current transfers26.228.425.125.624.333.4
Transfers to state governments2.52.52.12.41.92.5
Pensions5.65.14.84.95.25.3
Other current transfers 4/18.120.818.318.217.325.6
Development expenditure28.029.133.731.530.619.2
Direct development expenditure 5/29.732.734.732.331.624.2
Loan recoveries-1.7-3.6-1.0-0.9-0.9-5.0
Adjustment for accounts payable0.00.00.00.00.00.0
(In percent of GDP)
Current expenditure16.316.819.419.720.021.3
Of which: Wages and salaries4.84.85.25.65.54.9
Other goods and services 2/2.92.74.04.14.84.9
Direct development expenditure6.77.810.29.39.16.4
Memorandum items:
Gross domestic product (current prices)300,764343,215334,404361,624394,200442,483
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, 1999–2004
Revised

Budget
199920002001200220032004
(In millions of ringgit)
Total expenditure68,35881,57997,990103,767113,536116,831
General services43,05151,48561,48365,95572,88868,945
General public services11,98514,76016,72014,30015,76316,562
General administration9,07711,29512,4749,44210,27710,816
Internal security2,9083,4654,2464,8585,4865,746
Defense6,3215,8267,3518,50410,95010,419
Education15,32320,02224,78529,41829,22525,284
Health4,4625,4036,2506,6558,9759,672
Social security 1/3,7924,1874,7115,1345,8705,318
Housing and community developments1,1681,2871,6661,9442,1051,690
Of which: Community and social securities
Economic services13,18318,27617,87518,44720,26520,804
Agriculture, forestry, and rural development2,3122,5062,7612,8103,3784,407
Transport and communications4,3686,4117,1057,78810,1999,655
Other economic services 2/6,5039,3598,0097,8496,6886,742
Other12,12411,81818,63219,36520,38327,082
Interest payments7,9419,0559,6349,66910,54611,655
Transfers to state governments1,7092,0772,0122,5342,1252,125
Others 3/2,4746866,9867,1627,71213,302
Adjustment for accounts payable 3/000000
Total expenditure and net lending68,16281,57997,990103,767113,536116,831
(In percent of GDP)
General services14.315.018.418.219.015.6
General public services4.04.35.04.04.13.7
Defense2.11.72.22.42.92.4
Education5.15.87.48.17.65.7
Health1.51.61.91.82.32.2
Social security 1/1.31.21.41.41.51.2
Housing and community developments0.40.40.50.50.50.4
Economic services4.45.35.35.15.34.7
Agriculture, forestry, and rural development0.80.70.80.80.91.0
Transport and communications1.51.92.12.22.72.2
Other economic services 2/2.22.72.42.21.71.5
Other4.03.45.65.45.36.1
Interest payments2.62.62.92.72.72.6
Transfers to state governments0.60.60.60.70.60.5
Others 3/0.80.22.12.02.03.0
Adjustment for accounts payable 3/0.00.00.00.00.00.0
Memorandum items:
Gross domestic product (current prices)300,764343,215334,404361,624394,200442,483
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, 1999–2004
Revised

Budget
199920002001200220032004
(In millions of ringgit)
Total revenue58,67561,86479,56783,51492,60896,917
Tax revenue45,34647,17361,49166,85964,89170,759
Nonpetroleum tax revenue38,76740,16550,80158,45655,31859,066
Taxes on net income and profits 1/24,39023,14632,23936,71534,55036,260
Sales tax and excises 2/11,04913,38615,33318,03716,79918,717
Taxes on international trade3,3283,6333,2293,7043,9694,089
Petroleum tax revenue6,5797,00810,6908,4039,57311,693
Nontax revenue13,32914,69118,07616,65527,71726,158
Total expenditure and net lending68,16281,57997,990103,767113,536116,831
Current expenditure49,06957,82964,99171,11578,75194,350
Wages and salaries14,43616,35717,44320,24221,72121,814
Other expenditure on goods and services8,8669,21413,27514,65418,90421,820
Interest payments7,9419,0559,6349,66910,54611,655
Subsidies and transfers17,82623,20324,63926,55027,58039,061
Development expenditure20,24526,65934,00233,56035,82628,305
Net lending-1,152-2,909-1,003-908-1,041-5,824
Overall balance-9,487-19,715-18,423-20,253-20,928-19,914
Current balance9,6064,03514,57612,39913,8572,567
Primary balance 3/-1,546-10,660-8,789-10,584-10,382-8,259
Financing9,48719,71518,42320,25320,92819,914
External2,9238646,2958,020-3,709271
Domestic (including use of assets)6,56418,85112,12812,23324,63719,643
(In percent of GDP)
Total revenues19.518.023.823.123.521.9
Tax revenue15.113.718.418.516.516.0
Nonpetroleum tax revenue12.911.715.216.214.013.3
Taxes on net income and profits 1/8.16.79.610.28.88.2
Sales tax and excises 2/3.73.94.65.04.34.2
Taxes on international trade1.11.11.01.01.00.9
Petroleum tax revenue2.22.03.22.32.42.6
Nontax revenue4.44.35.44.67.05.9
Total expenditures22.723.829.328.728.826.4
Current expenditure16.316.819.419.720.021.3
Wages and salaries4.84.85.25.65.54.9
Other expenditure on goods and services2.92.74.04.14.84.9
Interest payments2.62.62.92.72.72.6
Subsidies and transfers5.96.87.47.37.08.8
Development expenditure6.36.99.99.08.85.1
Overall balance-3.2-5.7-5.5-5.6-5.3-4.5
Current balance3.21.24.43.43.50.6
Primary balance 3/-0.5-3.1-2.6-2.9-2.6-1.9
Financing3.25.75.55.65.34.5
External1.00.31.92.2-0.90.1
Domestic1.83.74.01.75.94.4
Memorandum items:
Nominal GDP (in millions of ringgit)300,764343,215334,404361,624394,200442,483
Sources: Data provided by the Malaysian authorities; and Fund staff estimates.

Includes taxes on property.

Includes “other tax revenue.”

Overall balance plus interest payments.

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

Includes taxes on property.

Includes “other tax revenue.”

Overall balance plus interest payments.

Table 10.Malaysia: Federal Government Operations, 1999–2004(In millions of ringgit)
Revised

Budget
199920002001200220032004
Total revenue and grants58,67561,86479,56783,51492,60896,917
Own revenue58,67561,86479,56783,51492,60896,917
Tax revenue45,34647,17361,49166,85964,89170,759
Nontax revenue13,32914,69118,07616,65527,71726,158
Total expenditure and net lending68,16281,57997,990103,767113,536116,831
Current expenditure 1/49,06957,82964,99171,11578,75194,350
Transfers to:5,3866,2057,4169,8479,09810,306
Statutory bodies3,6324,0165,3126,3616,8447,153
State governments1,7092,0772,0122,5342,1252,960
Local governments451129288129193
Nonfinancial public enterprises (NFPEs)00086400
Direct development expenditure20,24526,65934,00233,56035,82628,305
Transfers to:6,3529,1457,7047,1304,8703,529
Statutory bodies1,8054,3324,3455,7583,5172,010
State governments 2/35348631266494481
Local governments1122482,848421472975
NFPEs4,0824,07919928778763
Loan recoveries-1,152-2,909-1,003-908-1,041-5,824
Net lending to:384-2,018621856553384
Statutory bodies-249-2,147-11496-123-59
State governments444433549907791555
Local governments-11-13-4-7-33-14
NFPEs200-291190-140-82-98
Adjustments for accounts payable 3/000000
Overall balance-9,487-19,715-18,423-20,253-20,928-19,914
Financing (net)9,48719,71518,42320,25320,92819,914
External2,9238646,2958,020-3,709271
Domestic6,56418,85112,12812,23324,63719,643
Banking system 4/1,4203,302-3,54010,8408,978
Nonbanks5,14415,54915,6681,39315,659
Employees Provident Fund5,7879,4195,9924,58014,198
Insurance companies 5/6566431,9147792,416
Petronas-200-1,320-8721,500
Other-1,0996,8078,634-2,455
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, 1999–2004(In millions of ringgit)
Revised

Budget
199920002001200220032004
Total revenue8,15711,93313,41715,62815,16315,369
Own revenue2,7203,5853,7603,5094,8026,206
Transfers from:5,4378,3489,65712,11910,3619,163
Federal government (operating and development grants)5,4378,3489,65712,11910,3619,163
State governments000000
Local governments000000
NFPEs000000
Total expenditure7,2909,69411,05512,50013,80414,008
Operating expenditure5,7746,5197,9678,6599,62410,634
Transfers to:000000
Federal government000000
State governments000000
Local governments000000
NFPEs000000
Of which: Transfer from federal government3,6324,0165,3126,3616,8447,153
Development expenditure1,5163,1753,0883,8414,1803,374
Of which: Transfer from federal government1,8054,3324,3455,7583,5172,010
Overall balance8672,2392,3623,1281,3591,361
Financing (net)-867-2,239-2,362-3,128-1,359-1,361
External-242-379-1362-7-6
Domestic-249469-1,254201219331
Net borrowing from federal government-249-2,147-11496-123-59
Other02,616-1,140105342390
Change in assets (increase -)-376-2,329-972-3,331-1,571-1,686
Memorandum items:
Current balance (in percent of GDP)0.81.61.61.91.41.1
Overall balance (in percent of GDP)0.30.70.70.90.30.3
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 12.Malaysia: Operations of State Governments, 1999–2004(In millions of ringgit)
Revised

Budget
199920002001200220032004
Revenue and grants8,79210,3158,3128,3418,5419,727
Own revenue6,7307,7525,9885,1436,3226,286
Transfers from:2,0622,5632,3243,1982,2193,441
Federal government2,0622,5632,3243,1982,2193,441
Statutory bodies000000
Local governments000000
Expenditure8,68910,33710,0108,8629,12311,434
Operating expenditure4,8625,2545,3055,0905,3076,724
Transfers to:246849195115125
Federal government000000
Statutory bodies000000
Local governments246849195115125
Development expenditure and net lending3,8275,0834,7053,7723,8164,710
Direct development expenditure3,6864,5024,0103,8694,0264,751
Transfers to:370164179199185156
Federal government000000
Statutory bodies000000
Local governments370164179199185156
Net lending to:141581695-97-210-41
Local governments-3175-928-1
State NFPEs808679-9-3302
State statutory bodies64478611-7992-42
Overall balance103-22-1,698-521-582-1,707
Financing (net)-103221,6985215821,707
External000000
Domestic-103221,6985215821,707
Borrowing from federal government444433549907791555
Other borrowing (including change in assets)-547-4111,149-386-2091,152
Memorandum items:
Current balance (in percent of GDP)1.31.50.90.90.80.7
Overall balance (in percent of GDP)0.00.0-0.5-0.1-0.1-0.4
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 13.Malaysia: Operations of Local Governments, 1999–2004(In millions of ringgit)
Revised Budget
199920002001200220032004
Total revenue3,5343,4105,5285,4004,2244,944
Own revenue2,7612,8022,3184,5963,3233,495
Transfers from:7736083,2108049011,449
Federal government1573602,9405096011,168
Statutory bodies000000
State governments616248270295300281
Nonfinancial public enterprises (NFPEs)000000
Total expenditure3,8353,5134,9535,2675,7035,771
Current expenditure2,5732,4152,7772,9453,2213,840
Development expenditure1,2621,0982,1762,3222,4821,931
Overall balance-301-103575133-1,479-827
Financing (net)301103-575-1331,479827
External000000
Domestic301103-575-1331,479827
Borrowing from federal government-11-13-4-7-33-7
Borrowing from state governments-3175-928-1
Other borrowing including change in assets31599-576-1171,484835
Memorandum items:
Current balance (in percent of GDP)0.30.30.80.70.30.2
Overall balance (in percent of GDP)-0.10.00.20.0-0.4-0.2
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 14.Malaysia: General Government Operations, 1999–2004 1/(In millions of ringgit)
Revised Budget
199920002001200220032004
Total revenue and grants70,88676,00391,63396,762107,055112,904
Federal government58,67561,86479,56783,51492,60896,917
Statutory bodies2,7203,5853,7603,5094,8026,206
State governments6,7307,7525,9885,1436,3226,286
Local governments2,7612,8022,3184,5963,3233,495
Total expenditure and net lending79,52095,331108,386113,280128,050133,509
Total current expenditure56,64665,72873,53378,73187,690105,117
Federal government43,68351,62457,57562,13269,65384,044
Statutory bodies5,7746,5197,9678,6599,62410,634
State governments4,6165,1705,2144,9955,1926,599
Local governments2,5732,4152,7772,9453,2213,840
Total direct development expenditure 2/24,06930,20435,59236,55042,24634,739
Federal government17,97521,59326,49726,71731,74324,839
Statutory bodies1,5163,1753,0883,8414,1803,374
State governments3,3164,3383,8313,6703,8414,595
Local governments1,2621,0982,1762,3222,4821,931
Net lending 3/-1,195-601-739-2,001-1,886-6,347
Adjustments for accounts payable 3/000000
Overall balance-8,634-19,328-16,753-16,518-20,995-20,605
Financing8,63419,32816,75316,51820,99520,605
External2,6814856,1598,022-3,716265
Domestic (including change in assets)5,95318,84310,5948,49624,71120,340
Memorandum items:
Current balance (in percent of GDP)4.52.85.24.74.81.4
Overall balance (in percent of GDP)-2.9-5.6-5.0-4.6-5.3-4.3
Federal government net lending (other)-1,536-891-1,624-1,764-1,594-6,208
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, 1999–2004 1/(In millions of ringgit)
Prel.Revised Budget
199920002001200220032004
Operating surplus40,72745,28339,68346,47556,43851,751
Transfers from:4,0824,0791991,15178763
Federal government4,0824,0791991,15178763
Statutory bodies000000
State governments000000
Local governments000000
Surplus net of transfers36,64541,20439,48445,32455,65151,688
Development expenditure25,45823,36024,03232,29740,16033,454
Overall balance15,26921,92315,65114,17816,27818,297
Financing-15,269-21,923-15,651-14,178-16,278-18,297
External2,6632,250317-835-6,658-66
Domestic-17,932-24,173-15,968-13,343-9,620-18,231
Borrowing from federal government200-291190-140-82-98
Borrowing from state governments000000
Other (including changes in assets)-18,132-23,882-16,158-13,203-9,538-18,133
(In percent of GDP)
Memorandum items:
Current balance13.513.211.912.914.311.7
Development expenditure8.56.87.28.910.27.6
Overall balance5.15.24.63.63.94.1
Source: Data provided by the Malaysian authorities.

Consists of 37 major nonfinancial public enterprises.

Source: Data provided by the Malaysian authorities.

Consists of 37 major nonfinancial public enterprises.

Table 16.Malaysia: Consolidated Public Sector, 1999–2004 1/
Prel.Revised Budget
199920002001200220032004
(In millions of ringgit)
Total revenue and grants107,531117,207131,117142,086162,706164,592
Federal government58,67561,86479,56783,51492,60896,917
Statutory bodies2,7203,5853,7603,5094,8026,206
State governments6,7307,7525,9885,1436,3226,286
Local governments2,7612,8022,3184,5963,3233,495
Nonfinancial public enterprise (NFPE) operating surplus36,64541,20439,48445,32455,65151,688
Total expenditure and net lending100,699114,886132,024144,575167,477166,999
Total current expenditure 2/56,64665,72873,53377,86787,690105,117
Federal government43,68351,62457,57561,26869,65384,044
Statutory bodies5,7746,5197,9678,6599,62410,634
State governments4,6165,1705,2144,9955,1926,599
Local governments2,5732,4152,7772,9453,2213,840
Total direct development expenditure 3/45,44549,48559,42568,56081,61968,130
Federal government13,89317,51426,29826,43030,95624,776
Statutory bodies1,5163,1753,0883,8414,1803,374
State governments3,3164,3383,8313,6703,8414,595
Local governments1,2621,0982,1762,3222,4821,931
NFPEs25,45823,36024,03232,29740,16033,454
Net lending-1,392-327-934-1,852-1,832-6,248
Adjustment for accounts payable000000
Overall public sector balance6,8322,321-907-2,489-4,771-2,407
Federal government1,099-7,274-4,306-4,184-8,001-11,903
Statutory bodies-4,570-6,109-7,295-8,991-9,002-7,802
State governments-1,202-1,756-3,057-3,522-2,711-4,908
Local governments-1,074-711-2,635-671-2,380-2,276
NFPEs (including net lending and account payable)12,57918,17116,38614,87917,32324,482
Financing-6,832-2,3219072,4894,7712,407
Net external borrowing5,3442,7356,4767,187-10,374199
(In US$ million)1,4067201,7041,891-2,73052
Net domestic borrowing (including change in assets)-12,176-5,056-5,569-4,69815,1452,208
(In percent of GDP)
Total revenue and grants35.834.139.239.341.337.2
Total expenditure and net lending33.533.539.540.042.537.7
Total current expenditure 2/18.819.222.021.522.223.8
Total direct development expenditure 3/15.114.417.819.020.715.4
Net lending 4/-0.5-0.1-0.3-0.5-0.5-1.4
Adjustment for accounts payable 4/0.00.00.00.00.00.0
Overall balance2.30.7-0.3-0.7-1.2-0.5
Federal government0.4-2.1-1.3-1.2-2.0-2.7
Statutory bodies-1.5-1.8-2.2-2.5-2.3-1.8
State governments-0.4-0.5-0.9-1.0-0.7-1.1
Local governments-0.4-0.2-0.8-0.2-0.6-0.5
NFPEs (including net lending and account payable)4.25.34.94.14.45.5
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, 1999–2004 1/
Prel.Proj.
199920002001200220032004
(In millions of ringgit)
Federal government112,119125,627145,724164,963188,767219,269
Domestic debt93,750106,805121,396128,680151,483183,770
Foreign debt18,36918,82224,32836,28337,28435,499
Official multilateral and bilateral 2/7,2936,7816,6467,60912,19412,903
Market loans11,07612,04117,68228,67425,09022,596
Statutory bodies (federal government guaranteed)44321867312521
Domestic debt28177543
Foreign debt41520160262118
Nonfinancial public enterprises (NFPEs)77,18480,03385,42885,92583,25583,035
Domestic debt 3/24,07124,23721,43625,16227,14026,040
Of which: Guaranteed by federal government24,07124,23721,43625,16227,14026,040
Foreign debt53,11355,79663,99260,76356,11556,995
Of which: Guaranteed by federal government7,3707,9197,6676,6957,61312,541
Total public sector debt189,746205,878231,219250,919272,047302,325
Domestic debt 3/117,849131,059142,839153,847178,627209,813
Of which: Guaranteed by federal government24,09924,25421,44325,16727,14426,043
Foreign debt 4/71,89774,81988,38097,07293,42092,512
Of which: Guaranteed by federal government7,7858,1207,7276,7217,63412,559
(In percent of GDP)
Federal government37.336.643.645.647.949.6
Domestic debt 3/31.231.136.335.638.441.5
External debt6.15.57.310.09.58.0
Official multilateral and bilateral 1/2.42.02.02.13.12.9
Market loans3.73.55.37.96.45.1
Statutory bodies0.10.10.00.00.00.0
Domestic debt0.00.00.00.00.00.0
External debt (federal government guaranteed)0.10.10.00.00.00.0
NFPEs25.723.325.523.821.118.8
Domestic debt 2/3/8.07.16.47.06.95.9
External debt17.716.319.116.814.212.9
Of which: Government guaranteed2.52.32.31.91.92.8
Total public sector debt63.160.069.169.469.068.3
Domestic debt 3/39.238.242.742.545.347.4
Of which: Government guaranteed8.07.16.47.06.95.9
External debt 4/23.921.826.426.823.720.9
Of which: Government guaranteed2.62.42.31.91.92.8
(In millions of ringgit)
Memorandum items:
Additional identified debt guaranteed by government (contingent)16,19817,73624,43524,51117,899
(In percent of GDP)5.45.27.36.84.5
Guaranteed domestic loans (for financial PEs)16,19817,73618,55818,63417,899
Infrastructure Development Bank1,5192,0243,1503,7295,682
Danaharta10,34411,64011,64011,1408,539
PNB (a unit trust company)2,0002,0002,0002,0002,000
Other financial PEs and statutory bodies 5/2,3352,0721,7681,7651,678
Contingent liabilities on privatized projects 6/005,8775,8770
Nominal GDP300,764343,215334,404361,624394,200442,483
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 non-government 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 Sewerage 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 non-government 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 Sewerage 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, 1999–2003(In millions of ringgit)
19992000200120022003
Receipts25,66427,37927,69028,55630,031
Contributions15,12116,84718,17220,05620,143
Investment income10,50510,4949,4818,4519,816
Other3838374972
Expenditure7,37010,24322,31813,05712,042
Withdrawals7,1249,99121,96812,72711,501
Operating expenditure246252350330541
Balance18,29417,1365,37215,49917,989
(In percent of GDP)6.15.01.64.34.6
Holding of government securities51,81361,76668,33972,98084,680
(Changes in the holding of government securities)6,1439,9536,5734,64111,700
Registered employees (in thousands)9,5409,97010,18010,230
Registered employers (in thousands)303318328340
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 19.Malaysia: Direction of Financial Institution Lending, 1999–2003
1999 1/2000 1/2001 1/2002 1/2003 2/1999200020012002200319992000200120022003
(Percent change)(Share of total loans, in percent)
Primary industries 3/11,16613,68613,89613,46711,61015.622.61.5-3.12.63.03.02.72.5
Commercial banks9,13011,39611,86411,65110,23520.824.84.1-1.82.12.52.52.42.2
FCs and MBs 4/2,0362,2912,0321,8161,376-3.212.5-11.3-10.60.50.50.40.40.3
Manufacturing66,17368,36268,47567,20161,0830.63.30.2-1.915.415.114.613.712.9
Commercial banks60,18962,82262,84562,28356,6522.04.40.0-0.914.013.813.412.712.0
FCs and MBs5,9845,5405,6304,9184,431-11.6-7.41.6-12.61.41.21.21.00.9
Electricity, gas, and water7,4317,80711,2266,8795,06626.85.0-31.929.31.71.71.11.41.1
Commercial banks6,5227,00510,6866,0124,63128.87.4-31.825.81.51.51.01.21.0
FCs and MBs90980154086843514.1-11.9-32.660.70.20.20.10.20.1
Commerce, restaurants, and hotels36,83038,06038,45339,48639,1622.63.31.02.78.68.48.28.18.3
Commercial banks31,91533,65434,12535,14534,8713.05.41.43.07.47.47.37.27.4
FCs and MBs4,9144,4054,3284,3424,291-0.2-10.4-1.80.31.11.00.90.90.9
Construction42,85841,11239,91538,20329,483-5.2-4.1-2.9-4.310.09.18.57.86.2
Commercial banks30,42030,36229,60428,70922,443-5.6-0.2-2.5-3.07.16.76.35.94.7
FCs and MBs12,43810,75010,3109,4947,040-4.2-13.6-4.1-7.92.92.42.21.91.5
Residential property 5/63,08974,28287,051101,230116,5539.317.717.216.314.716.418.520.624.6
Commercial banks51,12361,77373,92587,094101,82914.320.819.717.811.913.615.717.821.5
FCs and MBs11,96612,50913,12614,13614,724-8.14.54.97.72.82.82.82.93.1
Nonresidential and real estate48,70847,85048,60846,95042,6780.9-1.81.6-3.411.310.510.39.69.0
Commercial banks37,00136,86337,91937,11936,0643.2-0.42.9-2.18.68.18.17.67.6
FCs and MBs11,70710,98810,6909,8326,614-5.9-6.1-2.7-8.02.72.42.32.01.4
Transport, storage, communication15,66613,93112,18411,79810,7282.2-11.1-12.5-3.23.63.12.62.42.3
Commercial banks12,01810,7519,5949,5188,2332.5-10.5-10.8-0.82.82.42.01.91.7
FCs and MBs3,6483,1802,5902,2802,4951.5-12.8-18.6-12.00.80.70.60.50.5
Finance, insurance, business services34,01634,45535,16932,67029,257-10.71.32.1-7.17.97.67.56.76.2
Commercial banks29,62530,64732,07729,70527,244-5.03.54.7-7.46.96.86.86.15.8
FCs and MBs4,3913,8073,0922,9642,013-36.5-13.3-18.8-4.11.00.80.70.60.4
Consumption credit (new format)51,35659,72569,35881,38289,2773.616.316.117.311.913.214.716.618.8
Commercial banks19,58420,86122,44524,38625,62813.26.57.68.74.54.64.85.05.4
FCs and MBs31,77238,86446,91456,99663,649-1.622.320.721.57.48.610.011.613.4
Purchase of securities33,67633,61630,34930,57019,807-11.2-0.2-9.70.77.87.46.56.24.2
Commercial banks22,93923,17822,17323,45014,476-6.91.0-4.35.85.35.14.74.83.1
FCs and MBs10,73710,4378,17671205,331-19.1-2.8-21.7-12.92.52.31.71.51.1
Purchase of transport vehicles1,9611,7393,6293,1113,304-56.5-11.3108.6-14.30.50.40.80.60.7
Commercial banks163224362466726-20.937.161.628.70.00.00.10.10.2
FCs and MBs1,7981,5153,26726452,578-58.2-15.8115.7-19.00.40.30.70.50.5
Community, social, and personal services7,1796,2726,2525,9184,9697.4-12.6-0.3-5.31.71.41.31.21.0
Commercial banks5,7234,9564,91847373,80818.3-13.4-0.8-3.71.31.11.01.00.8
FCs and MBs1,4561,3161,3341,1811,161-21.3-9.61.4-11.50.30.30.30.20.2
Total loans (including NPLs sold)430,468454,019470,480490,2890.15.53.64.2100.0100.0100.0100.0
Commercial banks324,245345,458356,480369,6503.36.53.23.775.376.175.875.4
FCs and MBs106,223108,561114,000120,639-8.52.25.05.824.723.924.224.6
Total loans (excluding NPLs sold)395,098416,298432,357452,194473,777-5.35.43.94.6100.0100.0100.0100.0100.0
Commercial banks295,332314,798325,072338,242355,839-2.46.63.34.174.775.675.274.875.1
FCs and MBs99,766101,499107,285113,953117,938-12.81.75.76.225.324.424.825.224.9
Source: Data provided by the Malaysian authorities.

Includes loans sold to Danaharta.

Excludes 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.

Excludes 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, 1998–2003
199819992000200120022003
Kuala Lumpur Stock Exchange (KLSE)/Bursa Malaysia
Indices (end-of-period value)
Composite (KLCI)586.1812.3679.6696.1646.3793.9
(Percentage change)-1.438.6-16.32.4-7.222.8
EMAS146.9206.4159.8165.2157.3195.6
(Percentage change)-2.840.5-22.63.4-4.824.4
Second Board158.4180.6133.0134.198.2140.6
(Percentage change)-2.814.0-26.40.9-26.843.2
Turnover (RM billion) 1/
Main Board100.6171.5193.175.5102.6141.7
Second Board14.613.729.29.514.235.5
Total 2/115.2185.2222.385.0117.0183.9
Daily average (RM million)468.2747.0911.1348.4471.6747.5
Turnover value/market capitalization (in percent)30.833.550.018.324.317.5
Turnover (billion units) 1/
Main Board52.180.060.243.747.080.4
Second Board6.25.28.26.08.222.4
Total 1/58.385.268.449.755.6112.2
Daily average (million units)236.9343.4280.1203.5224.3456.0
Number of listed companies
Main Board454474499520561598
Second Board282283296292292276
MESDAQ Market 3/00001232
Total736757795812865906
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 Board353.4527.6423.9444.3464.5610.3
Second Board21.125.120.520.716.425.1
MESDAQ Market00000.83.9
Total374.5552.7444.4465.0481.6639.3
Total (in percent of GDP)132184130139134162
Price/earnings ratio 5/
Main Board20.054.129.332.02
Second Board
Composite index60.057.816.523.418.021.3
Dividend yield (in percent)
Main Board2.81.62.52.62.72.73
Second Board1.61.01.61.41.60.99
Composite index2.71.62.22.52.72.93
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) 6/3,1351,7611,5071,1829431,346
Malaysia Monetary Exchange (MME) 7/
Average daily volume (contracts) 8/101000259486
Commodity and Monetary Exchange of Malaysia (COMMEX) 7/
Average daily volume (contracts) 9/003,6665,813
Malaysia Derivatives Exchange (MDEX) 10/
Average daily volume (contracts) 11/0003,3865,1928,127
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 March 18, 2002.

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

“…” denotes negative P/E 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.

CPO futures.

KLOFFE and COMMEX merged to form MDEX on June 2001.

All Exchange products (KLSE CI futures, CPO futures and 3-month KLIBOR futures contract, 5-Yr 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 March 18, 2002.

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

“…” denotes negative P/E 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.

CPO futures.

KLOFFE and COMMEX merged to form MDEX on June 2001.

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

Table 21.Malaysia: Funds Raised in the Capital Market, 1998–2003(In millions of ringgit)
199819992000200120022003
Net funds raised by the public sector9,8046,29714,65917,0648,56824,728
New issues17,68214,97519,96426,52319,47646,337
Malaysian government securities (MGS)14,95010,00016,41323,08716,26641,262
MGS advance subscriptions000000
Khazanah bonds2,7322,5981,5511,63003,346
Government investment certificates02,0002,0001,8052,7381,729
Malaysia savings bonds0377004720
Less: Redemptions7,8788,6785,3059,45910,90821,609
Malaysian government securities6,2006,6765,2867,1008,90018,600
Government investment certificates7502,00002,0002,0000
Malaysia savings bonds92821935989
Less: Government holdings000000
Net funds raised by the private sector7,96321,12225,94923,70015,34925,624
Shares1,7886,0966,0136,12313,2917,772
Ordinary shares (net) 1/1,7886,0835,9295,28312,6007,634
Initial public offers (IPOs)6851,0099921,6786,8353,952
Rights issues7224,3473,8981,8923,2712,283
Private placements/Restricted offer-for-sale3205199121,6812,402707
Special issues 2/612081263392692
Preference shares000000
Warrants1484840691138
Debt securities (net) 3/6,17515,02619,93617,5772,05817,853
New issues14,15227,77630,39537,93236,19550,975
Straight bonds10,23818,18212,94014,3607,76327,983
Bonds with warrants15094709133000
Convertible bonds992,4871,3861,4932,8523,177
Islamic bonds3451,7347,66613,50113,8298,143
Asset-backed bonds0001,2351,9163,487
Cagamas bonds3,3204,4258,4036,4309,5358,185
Less: Redemptions7,97612,75010,45920,35534,13733,123
Private debt securities 4/2,9646,2806,20515,04028,77027,971
Cagamas bonds5,0126,4704,2545,3155,3675,152
Total net issues17,76727,41940,60840,76523,91750,353
Net short-term securities-155-363-1,482-2,093-2,405-786
New issues86,89082,22466,35350,35139,65643,402
Commercial paper70,04561,59952,02739,38129,64133,662
Cagamas notes16,84520,62514,32610,97010,0159,740
Less: Redemptions87,04582,58767,83552,44442,06144,187
Commercial paper71,71062,15251,42040,41731,31133,547
Cagamas notes15,33520,43516,41512,02710,75010,640
Total including short-term securities17,61227,05539,12638,67121,51249,567
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, 1998–2003
19981999200020012002Prel.

2003
(In billions of U.S. dollars)
Current account balance9.512.68.57.37.213.4
Trade balance17.622.620.818.418.125.7
Exports, f.o.b.71.884.198.488.093.4105.0
Imports, f.o.b.54.261.577.669.675.279.3
Services and income balance-5.7-8.3-10.4-8.9-8.2-9.9
Net transfers-2.4-1.7-1.9-2.2-2.8-2.4
Capital account balance-2.6-6.6-6.1-3.9-3.1-3.1
Medium- and long-term flows, net2.73.32.92.62.7-2.1
Public sector, net0.51.81.31.91.2-2.9
Net federal government0.50.80.21.72.1-1.0
Drawings1.01.31.31.92.80.8
Repayments0.60.51.00.20.61.8
Net other public sector0.11.01.00.2-0.9-1.9
Drawings1.11.62.02.80.91.4
Repayments1.10.61.02.61.83.3
Private sector, net2.21.51.70.71.40.8
Short-term flows, net-5.3-9.9-9.0-6.5-5.8-1.0
Net errors and omissions 1/-2.5-1.3-3.2-2.4-0.30.1
Overall balance4.54.7-1.01.03.710.3
Gross official reserves26.230.929.930.834.644.9
(In months of following year’s imports)4.13.94.14.04.34.8
(As a percentage of short-term debt) 2/209.7302.2305.5261.4243.8334.3
(In percent of GDP)
Current account balance13.215.99.48.37.612.9
Trade balance24.428.623.120.919.124.8
Services and income balance-7.9-10.5-11.6-10.2-8.6-9.5
Capital account balance-3.5-8.4-6.7-4.4-3.3-3.0
Net foreign direct investment2.63.12.00.31.41.1
Net short-term flows-7.3-12.6-10.0-7.3-6.1-1.0
Net errors and omissions 1/-3.4-1.6-3.6-2.8-0.30.1
Overall balance6.25.9-1.11.13.99.9
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, 1998–2003 1/(In millions of U.S. dollars, unless otherwise indicated)
199819992000200120022003
Rubber723617677496656943
Volume ('000 tonnes)989984978822928945
Unit value (cents/kg)7363696071100
Tin 2/12312911412111275
Volume (tonnes)22,37624,02620,61427,26927,07615,164
Unit value (US$/tonne)5,5145,3755,5504,4474,1354,926
Saw logs475701655401482530
Volume ('000 m3)5,4186,7386,4844,8345,1045,505
Unit value (US$/m3)88104101839496
Sawn timber644739795598799831
Volume ('000 m3)2,6832,8182,8762,4112,7535,737
Unit value (US$/m3)240262276248290145
Palm oil 3/4,5343,8092,6182,5993,9055,322
Volume ('000 tonnes)7,5138,9648,86310,46710,85712,509
Unit value (US$/tonne)603425295248360425
Crude petroleum 4/1,9172,4493,7472,9263,0534,122
Volume ('000 tonnes)18,01317,72516,67215,07716,19217,913
Unit value (US$/tonne)106138225194189230
LNG1,5251,6713,0062,9262,6023,507
Volume ('000 tonnes)14,67115,08815,43015,42315,00717,402
Unit value (US$/tonne)104111195190173202
Major commodity exports9,94110,12111,61210,06711,60815,330
Manufactured exports60,79771,50883,66075,08379,47986,040
Other exports2,5402,9992,9572,7964,0204,001
Total exports (trade basis)73,27884,62198,22987,96994,061104,969
Memorandum item:
Total exports (b.o.p. basis)71,77484,09798,43087,98194,343104,999
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, 1998–2003(In millions of U.S. dollars)
199819992000200120022003
Electrical machinery, appliances, and parts41,37551,32860,63952,71255,86858,828
Semiconductors13,93117,23318,71315,92919,20822,417
Electronics equipment and parts15,30720,89525,17920,81622,21321,694
Electrical appliances12,13713,20016,74715,96714,44714,718
Transportation equipment2,0851,346764639788844
Food1,1701,1871,1861,2221,4201,673
Beverages and tobacco234275318343336385
Textiles, clothing, and footwear2,4092,4912,7462,3832,2552,308
Wood products1,5281,8381,7901,5831,6611,763
Rubber products1,4661,3321,2361,1751,1861,332
Paper and paper products245299368347356390
Petroleum products7971,1882,1402,2132,0052,478
Chemicals and chemical products2,7172,9223,9503,9164,5345,588
Nonmetallic mineral products537590676655753727
Metal manufactures2,1142,0692,2682,2872,3152,974
Optical and scientific equipment1,2171,2721,7962,0532,1452,424
Toys and sporting goods7377919078989471,010
Other manufactured exports2,1662,5812,8772,6592,9113,316
Total manufactured exports60,79771,50883,66075,08379,47986,040
Major commodity exports9,94110,11411,61210,06711,60815,330
Other exports2,5402,9992,9572,8192,9743,599
Total exports (trade basis)71,80184,62198,22987,96994,061104,969
Memorandum item:
Total exports (b.o.p. basis)71,80184,09798,43087,98194,343104,999
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 25.Malaysia: Gross Imports, 1998–2003 1/(In millions of U.S. dollars)
199819992000200120022003
Consumption goods3,3523,9024,4844,3744,9874,965
Food, primary484536561642657661
Food, processed9691,0581,1391,2371,2311,123
Transport equipment92425334689
Consumer goods1,8902,2852,7592,4623,0533,093
Capital goods9,2398,38811,62410,86411,36711,449
Transport equipment1,6769185987021,329703
Other capital goods7,5637,47011,02610,16210,03810,747
Intermediate goods40,90148,32161,23353,63457,59261,328
Food, primary493523492543615729
Food, processed571530518669739806
Industrial supplies, primary1,2671,4401,6501,6221,6121,697
Industrial supplies, processed11,58114,04316,35114,68815,21615,706
Fuel and lubricants, primary2794651,4161,7041,4291,903
Fuel and lubricants, processed9051,0171,7651,3641,4811,682
Capital goods parts and accessories25,27829,55837,95631,58334,56437,180
Transport equipment parts and accessories5287461,0861,4671,9361,626
Dual use goods9741,2981,6821,5381,6121,857
Fuel and lubricants583429650649669784
Transport equipment, passenger cars3918691,0338899421,072
Others1,0781,1621,2241,5201,8021,723
Retained imports55,54463,07180,24871,93077,36081,322
Imports for reexport2,7492,3171,7151,8152,4002,295
Total imports (trade basis) 1/58,29365,38981,96373,74479,76183,617
Memorandum items:
Total imports (b.o.p. basis) 2/54,17461,45277,60269,59875,24875,365
Lumpy imports2,9251,6996847141,280756
Source: Data provided by the Malaysian authorities.

Customs data.

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

Source: Data provided by the Malaysian authorities.

Customs data.

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

Table 26.Malaysia: Oil and LNG Trade, 1998–2003 1/
199819992000200120022003
Oil trade, net (US$ million)1,2672,0782,4131,7931,8722,719
Exports2,7143,6375,8885,1395,0586,600
Crude (US$ million)1,9172,4493,7482,9263,0534,122
Volume (million barrels)137135127115123136
Products (US$ million)7971,1882,1402,2132,0052,478
Volume ('000 tonnes)6,2407,1068,0259,6748,5059,009
Imports1,4471,5593,4753,3463,1863,881
Crude (US$ million)1743571,3161,5501,2571,659
Volume (million barrels)152553655261
Products (US$ million)1,2731,2022,1591,7961,9292,222
Volume ('000 tonnes)8,6677,9699,4407,8468,9659,090
LNG exports
Exports (US$ million)1,5251,6713,0062,9262,6023,507
Volume ('000 tonnes)14,67115,08815,43015,42315,00717,402
Memorandum item:
Domestic crude production
('000 barrels/day)725691681666698738
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, 1998–2003(In percent)
199819992000200120022003
Exports
ASEAN countries23.923.526.224.825.824.8
Singapore17.016.518.416.916.915.7
Japan10.611.613.113.311.110.7
India2.42.42.01.81.92.4
Australia2.32.42.52.32.32.5
European Union16.215.713.713.612.312.1
United States21.721.920.520.220.719.6
Other23.022.522.023.925.927.9
Total100100100100100100
Imports
ASEAN countries22.623.424.022.622.824.1
Singapore13.614.014.412.612.011.7
Japan19.720.821.019.217.817.1
India0.80.80.91.00.80.8
Australia2.22.31.92.11.81.5
European Union11.911.710.812.811.411.7
United States19.617.416.616.016.515.3
Other23.323.624.826.328.929.4
Total100100100100100100
Source: Data provided by the Malaysian authorities.
Source: Data provided by the Malaysian authorities.
Table 28.Malaysia: Services Account, 1999–2003(In millions of U.S. dollars)
19992000200120022003
Transportation (net)-2,227-3,088-2,987-3,045-3,493
Receipts2,4922,8022,7482,8552,767
Payments-4,720-5,890-5,736-5,900-6,260
Travel (net)1,6142,9364,24945013,054
Receipts3,5885,0116,8637,1185,901
Payments-1,973-2,075-2,614-2,618-2,846
Other (net) 1/-2,209-2,639-3,470-2,958-3,426
Receipts5,7195,9984,7194,7814,791
Payments-7,929-8,638-8,189-7,739-8,217
Government, n.i.e. (net)6-167-75-90
Receipts120128124125119
Payments-114-145-118-199-209
Total services (net)-2,816-2,808-2,202-1578-3,954
Receipts11,91913,94014,45514,87813,578
Payments-14,735-16,748-16,657-16,456-17,532
Investment income (net)-5,335-7,351-6,476-6,285-5,678
Receipts1,6801,6441,4801,7042,877
Payments-7,016-8,995-7,956-7,989-8,555
Compensation of employees (net)-161-257-267-310-250
Receipts323342367435571
Payments-484-599-634-745-821
Total income (net)-5,496-7,608-6,743-6,595-5,928
Receipts2,0031,9861,8472,1393,448
Payments-7,499-9,594-8,590-8,734-9,376
Total services and income (net)-8,312-10,416-8,944-8173-9,882
Receipts13,92315,92616,30217,01717,026
Payments-22,235-26,342-25,246-25,190-26,908
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, 1999–2003(In millions of U.S. dollars)
19992000200120022003
Direct investment2,4731,7622871,2981,104
Abroad-1,422-2,026-267-1,905-1,369
Equity capital-641-812-29-1,054-887
Reinvested earnings-87137147-59-203
Other capital-694-1,351-384-792-280
In reporting economy3,8953,7885543,2032,473
Equity capital1,512674-854-204485
Reinvested earnings1,9073,0022,4913,4132,832
Other capital476112-1,083-5-843
Portfolio investment-1,156-2,472-649-1,7121,097
Assets-188-10719-737-220
Equity securities23-56134-43-18
Debt securities-211-52-115-694-202
Liabilities427-2,365-668-9751,317
Equity securities50-2,118-1,552-551,339
Debt securities477-247883-920-23
Other investment-7,936-5,565-3,531-2,729-5,397
Public sector 1/1,7621,0361,8721,242-2,948
Drawings2,8533,0774,6693,6712,192
Repayments1,0912,0412,7972,4295,140
Banks-2,879-1,811-1,0892,1491,596
Other private sectors-6,820-4,790-4,314-6,121-4,046
Long-term-920-64474166-319
Short-term-423-455756-1,24274
Other 2/5,4774,271-5,544-5,045-3,801
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, 1998–2003(In millions of U.S. dollars)
199819992000200120022003
Central bank (net)26,16430,85429,87930,84334,57744,856
Foreign assets 1/26,16830,85929,88630,84834,58344,862
Gold and foreign exchange 1/25,33329,93828,90429,88033,55743,721
Reserve position in IMF626834871840873961
SDRs20987110128154180
Foreign liabilities456666
Government and other official entities (net)343331303337
Foreign assets343331303337
Foreign liabilities000000
Total official (net)26,19830,88729,91030,87234,61044,892
Foreign assets26,20230,89229,91630,87834,61644,899
Foreign liabilities456666
Commercial banks (net)-3,564-4858651,225-799-3,276
Assets5,7486,5547,8577,4447,8576,671
Liabilities9,3127,0396,9926,2198,6569,947
Memorandum items:
Gold (in millions of troy ounces)2.41.21.21.21.21.2
Gross official reserves (in months of the following year's imports) 2/4.13.94.14.04.34.6
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, 1998–2003(In millions of U.S. dollars)
199819992000200120022003
Total medium- and long-term debt
Beginning of period32,73435,29936,76537,75439,30240,418
Net drawings1,4561,3841,4342,428197-1,999
Drawings5,3375,6346,1558,3036,2775,712
Amortization 1/3,8814,2504,7215,8746,0807,711
Adjustment1,10982-445-8809191,794
End of period35,29936,76537,75439,30240,41840,213
Total public sector debt
Beginning of period16,79517,40719,84020,62824,14326,477
Net drawings4391,7821,2501,8841,246-2,897
Drawings2,1032,8533,2864,8273,7162,180
Amortization 1/1,6641,0712,0362,9422,4705,077
Adjustment173651-4621,6311,0881,900
End of period17,40719,84020,62824,14326,47725,481
Government debt
Beginning of period3,3253,9284,8344,9536,4029,548
Net drawings4647692271,6572,111-977
Drawings1,0201,2531,2541,8502,754827
Amortization 1/5564841,0271936431,804
Adjustment139137-109-2071,0361,240
End of period3,9284,8344,9536,4029,5489,812
Nongovernment public sector debt 2/3/
Beginning of period13,47013,47915,00615,67517,74116,929
Net drawings-251,0131,022227-865-1,920
Drawings1,0831,6002,0312,9779621,353
Amortization 1/1,1085871,0092,7491,8273,273
Adjustment34514-3531,83853660
End of period13,47915,00615,67517,74116,92915,669
Private sector debt 3/
Beginning of period15,93917,89216,92517,12615,15913,941
Net drawings1,017-399184544-1,049898
Drawings3,2342,7812,8693,4762,5613,532
Amortization 1/2,2173,1792,6852,9323,6102,634
Adjustment936-56917-2,511-169-107
End of period 4/17,89216,92517,12615,15913,94114,732
Short-term debt (end of period) 5/9,4265,9024,6326,3358,4368,825
Public sector000000
Commercial banks 6/5,3523,3322,4403,1385,7626,137
Nonbank financial institutions 7/4,0742,5702,1923,1972,6742,688
Other private sector000000
Total external debt (end of period)44,72542,66742,38645,63748,85449,038
Medium- and long-term35,29936,76537,75439,30240,41840,213
Short-term9,4265,9024,6326,3358,4368,825
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, 1998–2003
199819992000200120022003
(In millions of U.S. dollars)
Total medium- and long-term debt35,29936,76537,75439,30240,41840,213
Official creditors3,5474,0643,8583,4824,1594,572
Financial institutions1,3761,3781,4832,1983,3793,321
Bonds and FRN 1/11,54713,85514,58614,61614,21512,867
Suppliers' credits000000
Unallocated18,82817,46817,82619,00618,66519,453
Total public sector debt17,40719,84020,62824,14326,47725,481
Official creditors3,5474,0643,8583,4824,1594,572
Bilateral2,0442,6342,5052,1742,9103,379
Multilateral1,5031,4301,3531,3081,2491,193
IMF000000
Financial institutions1,3761,3781,4832,1983,3793,321
Bonds and FRN 1/9,76912,24812,70012,85813,13412,053
Suppliers' credits000000
Unallocated2,7142,1502,5865,6055,8055,535
Government debt3,9284,8344,9536,4029,5489,812
Official creditors1,9031,9191,7841,7492,0022,394
Bilateral5386035245148091,227
Multilateral1,3651,3171,2601,2351,1931,167
IMF000000
Financial institutions9121,0551,0161,5412,8572,613
Bonds and FRN 1/1,1121,8602,1523,1134,6894,805
Government-guaranteed debt2,5082,8682,9412,7912,6792,886
Official creditors1,6442,1452,0741,7332,1572,178
Bilateral1,5062,0321,9811,6602,1012,152
Multilateral13811393735626
Financial institutions464323467658522708
Bonds and FRN 1/40040040040000
Suppliers' credits000000
Other public sector debt10,97112,13812,73414,95014,25012,783
Bonds and FRN 1/8,2579,98810,1489,3458,4457,248
Unallocated2,7142,1502,5865,6055,8055,535
Private sector debt17,89216,92517,12615,15913,94114,732
Bonds and FRN 1/1,7781,6071,8861,7581,081814
Unallocated16,11415,31815,24013,40112,86013,918
(In percent)
By borrower:
Public sector debt49.354.054.661.465.563.4
Government debt11.113.113.116.323.624.4
Government-guaranteed debt7.17.87.87.16.67.2
Other public sector debt31.133.033.738.035.331.8
Private sector debt50.746.045.438.634.536.6
By lender:
Official creditors10.011.110.28.910.311.4
Bilateral5.87.26.65.57.28.4
Multilateral4.33.93.63.33.13.0
IMF0.00.00.00.00.00.0
Financial institutions3.93.73.95.68.48.3
Bonds and FRN 1/32.737.738.637.235.232.0
Suppliers' credits0.00.00.00.00.00.0
Unallocated53.347.547.248.446.248.4
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, 1998–2003
199819992000200120022003
(In millions of U.S. dollars)
Total debt service 1/5,9366,1346,5897,0937,3247,523
Amortization 1/3,7864,1384,3075,1605,4685,750
Public sector1,6641,0711,6862,2682,4703,652
Government 1/5564841,0271936431,016
Other public sector1,1085876592,0751,8272,636
Private sector2,1233,0672,6212,8922,9982,098
Interest2,1501,9962,2821,9331,8561,773
Medium- and long-term debt1,5501,5941,8731,6711,6571,613
Public sector9419571,2091,2441,3481,361
Government 2/263232312303445496
Other public sector678725897941903865
Private sector 3/609637664427309252
Short-term debt600402409262199160
(In percent of goods and services exports)
Debt-service ratio 1/7.06.35.86.86.66.2
Amortization 1/4.54.23.84.94.94.7
Public sector2.01.11.52.22.23.0
Government 1/0.70.50.90.20.60.8
Other public sector1.30.60.62.01.62.2
Private sector2.53.12.32.82.71.7
Interest2.52.02.01.91.71.5
Medium- and long-term debt1.81.61.61.61.51.3
Public sector1.11.01.11.21.21.1
Government0.30.20.30.30.40.4
Other public sector0.80.70.80.90.80.7
Private sector0.70.60.60.40.30.2
Short-term debt0.70.40.40.30.20.1
(In millions of U.S. dollars)
Memorandum items:
Prepayments of federal government market loans000000
IMF net purchases000000
Federal government net drawing, excluding IMF4647692271,6572,111-976
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, 1998–2003
19981999200020012002Prel.

2003
(In millions of U.S. dollars)
Total external debt (end of period)44,72542,66742,38645,63848,85449,038
Medium- and long-term 1/35,29936,76537,75439,30240,41840,213
Public sector17,40719,84020,62824,14326,47725,481
Government and government-guaranteed6,4367,7027,8949,19312,22712,698
Federal government3,9284,8344,9536,4029,5489,812
Official creditors1,9031,9191,7841,7492,0022,394
IMF000000
Financial institutions9121,0551,0161,5412,8572,613
Bonds and floating rate notes1,1121,8602,1523,1134,6894,805
Other private creditors 2/000000
Other government2,5082,8682,9412,7912,6792,886
Other public sector10,97112,13812,73414,95014,25012,783
Private sector17,89216,92517,12615,15913,94114,732
Short-term debt9,4265,9024,6326,3358,4368,825
Debt service
Medium- and long-term5,3365,7326,1806,8317,1257,363
Public sector2,6042,0282,8953,5123,8185,013
Amortization 3/1,6641,0711,6862,2682,4703,652
Federal government5564841,0271936431,016
Other1,1085876592,0751,8272,636
Interest9419571,2091,2441,3481,361
Federal government263232312303445496
Other678725897941903865
Private sector2,7323,7043,2853,3193,3072,350
Amortization2,1233,0672,6212,8922,9982,098
Interest609637664427309252
Short-term600402409262199160
(In percent of GDP)
Debt/GDP ratio62.053.946.951.951.347.3
Medium- and long-term48.946.541.844.742.538.8
Public24.125.122.827.427.824.6
Federal government5.46.15.57.310.09.5
Private24.821.419.017.214.614.2
Short-term13.17.55.17.28.98.5
(In percent of exports of goods and services)
Debt-service ratio7.06.35.86.86.66.2
Medium- and long-term debt6.35.85.46.66.46.0
Public sector3.12.12.53.43.44.1
Federal government1.00.71.20.51.01.2
Private sector3.23.82.93.23.01.9
Short-term debt0.70.40.40.30.20.1
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, 2004–09 1/(In millions of U.S. dollars)
200420052006200720082009
Amortization4,6194,6154,3385,1502,3983,542
Federal government4101,2321,2161,2927122,085
Project244242234260279301
Market1669909821,0324331,784
Nonfinancial public enterprises2,3411,7911,6642,6107801,010
Guaranteed405398395375252214
Nonguaranteed1,9361,3931,2692,235528796
Private sector1,8681,5921,4581,248906447
Interest1,4571,6881,4591,2781,069902
Federal government490474405371344252
Project1028875625038
Market388386330309294214
Nonfinancial public enterprises707598516440320289
Guaranteed816753392923
Nonguaranteed626531463401291266
Private sector260616538467405361
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, 1999–2004 1/(In percent per annum, unless otherwise specified)
PeriodSpot Exchange (Rate RM/$) 2/Swap Margin 3/LIBOR Interest RateCost of Borrowing RM Through Interbank MarketOutstanding Foreign Exchange Swaps at Bank Negara 4/
SwapMoney MarketDifference
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-993.8000-1604.93.24.0-0.80
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-023.8000851.92.82.80.00
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
Oct-033.80001381.42.62.9-0.30
Nov-033.80001381.42.62.9-0.30
Dec-033.80001391.52.62.9-0.32,090
Jan-043.80001381.42.52.9-0.45,700
Feb-043.80001281.52.42.9-0.512,236
Mar-043.80001511.32.62.9-0.315,732
Apr-043.80001391.42.52.9-0.413,946
May-043.80001321.52.52.9-0.413,794
Jun-043.8000931.82.42.8-0.415,124
Jul-043.8000841.92.42.8-0.419,551
Aug-043.8000841.92.52.8-0.318,506
Sep-043.8000841.92.72.8-0.119,418
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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