Economy

Today, the country is governed by a constitutional monarchy. It employs a mixed market economic system. Before the country’s independence, the economy was fueled by the export of raw material. Today, the economy is guided by the government’s “Vision 2020” goal of becoming a developed nation by the year 2020. The country plans on achieving this by promoting business in the manufacturing and technology sectors.

Here is a breakdown of the Malaysian labor force (Encarta)—

Labor force: 11.6 million workers
15 percent of jobs: agriculture, forestry, and fishing
30 percent: industry
53 percent: services.
Unemployment rate: 3.5 percent (2004)