The economic performance of Malaysia and Penang has been strong for past six years, with an average annual growth of 5%. Penang’s gross domestic product (GDP) and GDP per capita were higher than the national figures, which is a good sign.
For 2018, Penang’s economic development is projected to be positive as well. Penang consistently contributes 6% of Malaysia’s GDP, and the figure is increasing.
The services sector has outperformed the manufacturing sector since 2010.
Penang’s trade performance is increasing year by year, although export figures dipped in 2012. Balance of trade for both Malaysia and Penang varies annually.
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