Real Gdp Between Malaysia and Sri Lanka
2.1 The comparison of GDP between Malaysia and Sri Lanka and its reasons
The Comparison of Gross Domestic Product between Malaysia & Sri Lanka Year Country | Gross Domestic Product-Real Growth Rate | Malaysia | Sri Lanka | 2009 | -1.70% | 3.50% | 2010 | 7.20% | 9.10% | 2011 | 5.10% | 8.20% |
Gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. This is the statistic used to measure the country's total output and total value of all the goods and services produced within a country's borders.
Malaysia’s economy outperformed expectations to pull off a remarkable growth of 7.2% for 2010 to MYR 558.38 billion, compared with a contraction of 1.7% in 2009. The government had earlier forecasted gross domestic product growth at 5–6%, while other economists were more optimistic with a 7% growth projection .Malaysia’s record high GDP came from a sharp rebound in its manufacturing sector, which displayed a growth rate of 11.4%, compared to a 9.4% decline in 2009, mainly from the petroleum, chemical, rubber, and plastic products industries. The service sector grew likewise, displaying a 6.8% growth rate, compared to a 2.7% growth rate in the previous period, supported by the wholesale and retail trade, business services, and real estate subsectors. This was further aided by a continuous inflow of foreign direct investment and the Central Bank of Malaysia’s prudent management of the reserve position.
Sri Lanka, one of the world’s largest producers of black tea, reported an output surge of 13.3%, harvesting a record high of 329.4 million kg in 2010. This is comfortably above its 2008 record of 318.7 million kg. The bumper harvest is generally attributable to favorable weather conditions along with good agricultural practices. Prior to its surge in 2010, tea output was in its doldrums, declining 8.8% from its previous output peak at 318.7 million
The Comparison of Gross Domestic Product between Malaysia & Sri Lanka Year Country | Gross Domestic Product-Real Growth Rate | Malaysia | Sri Lanka | 2009 | -1.70% | 3.50% | 2010 | 7.20% | 9.10% | 2011 | 5.10% | 8.20% |
Gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. This is the statistic used to measure the country's total output and total value of all the goods and services produced within a country's borders.
Malaysia’s economy outperformed expectations to pull off a remarkable growth of 7.2% for 2010 to MYR 558.38 billion, compared with a contraction of 1.7% in 2009. The government had earlier forecasted gross domestic product growth at 5–6%, while other economists were more optimistic with a 7% growth projection .Malaysia’s record high GDP came from a sharp rebound in its manufacturing sector, which displayed a growth rate of 11.4%, compared to a 9.4% decline in 2009, mainly from the petroleum, chemical, rubber, and plastic products industries. The service sector grew likewise, displaying a 6.8% growth rate, compared to a 2.7% growth rate in the previous period, supported by the wholesale and retail trade, business services, and real estate subsectors. This was further aided by a continuous inflow of foreign direct investment and the Central Bank of Malaysia’s prudent management of the reserve position.
Sri Lanka, one of the world’s largest producers of black tea, reported an output surge of 13.3%, harvesting a record high of 329.4 million kg in 2010. This is comfortably above its 2008 record of 318.7 million kg. The bumper harvest is generally attributable to favorable weather conditions along with good agricultural practices. Prior to its surge in 2010, tea output was in its doldrums, declining 8.8% from its previous output peak at 318.7 million