Turkey-Malaysia Economic and Trade Relations

Economy of Malaysia

GDP (billion USD)

338,1

Inflation Rate (%)

3,1

Real GDP Growth Rate (%)

6,0

Unemployment Rate (%)

11,0

Population (million)

30,1

Exports (fob-billion USD)

207,8

Population Growth Rate (%)

0,14

Imports (fob-billion USD)

173,2

GDP Per Capita (USD)

10.456

Number of Turkish Firms in the Country

9

References: Ministry of Economy of Turkey, EIU, World Bank

Main Trade Partners: Singapore, China, Japan, USA, Thailand.

Main Export Items: Electronic integrated circuits and microassemblies, petroleum gases, petroleum oils, not crude, palm oil & its fraction, crude petroleum oils, automatic data processing machines;optical reader, etc.

Main Import Items: Electronic integrated circuits and microassemblies, petroleum oils, not crude, crude petroleum oils, diodes/transistors&sim semiconductor devices; etc, Electric app for line telephony,incl curr line system.

Bilateral Economic and Commercial Relations:

YEARS

EXPORT

IMPORT

VOLUME

BALANCE

2011

182.587

1.567.503

1.750.090

-1.384.916

2012

165.474

1.278.247

1.443.721

-1.112.273

2013

272.073

1.230.783

1.502.856

-958.709

2014

315.024

1.160.994

1.476.018

-845.970

2015

357.196

1.339.205

1.696.401

-982.009

Reference: TÜİK (thousand USD)

Main Export Items of Turkey: vehicles, tractors, parts and accessories, mineral oils and their derivatives, iron and steel, machinery and equipment, boron and borates, carpet, food (flour,pulses,nuts,fruits and fruit juices)

Main Import Items of Turkey: Palm oil & its fraction, Synthetic filam yarn, not put up, Articles of apparel&clothing accessories of vulcanised rubber, Electronic integrated circuits and microassemblies, Synthetic staple fibres, not carded.

The second meeting of Joint Economic Commission between Turkey and Malaysia was held in 2006 in İstanbul.

Turkey-Malaysia Business Council was constituted by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and National Chamber of Industry and Commerce of Malaysia in 1995. The last Business Council meeting was held on 12 October 2010 in Istanbul.

According to the data of Ministry of Economy of Turkey, the foreign direct investment (FDI) of Malaysia in Turkey is 844 million USD, as of 2015/March. ( According to Malaysia relevant authorities, the FDI of Malaysia in Turkey is around 2,5 billion USD. The difference between two figures stems from the adding of the investment numbers of Malaysian firms, which are launched in third countries, to the total FDI of Malaysia in Turkey).

The number/lists of Malaysian firms that operate in the third countries has not declared to the public by Malaysian authorities. According to Turkish Ministry of Economy’s reporting, 42 Malaysian firms operate in Turkey.

According to Malaysian data by September 2015, the FDI of Turkey in Malaysia is 127 million USD. According to the data collected from Turkish firms by Turkish Embassy in Bangkok, FDI of Turkey in Malaysia has been predicted more than 200 million USD.

Major Turkish firms that operate in Malaysia are FNSS A.Ş, YONCA-ONUK, EVYAP, NOVAPLAST, TEPE KİMYA, DORÇE, ASELSAN, ARÇELİK-BEKO, HAVELSAN.

Turkey’s Official Development Assistance in Malaysia values 5,54 million USD between years of 2004 and 2013 in total.

The number of visitors from Malaysia to Turkey is increasing regularly on yearly basis. The number of visitors has reached 69.968 in 2014.