Malaysia is a growing and relatively open economy. In 2007, the economy of Malaysia was the 29th largest economy in the world bypurchasing power parity with gross domestic product for 2007 was estimated to be $357.9 billion with a growth rate of 5% to 7% since 2007[1] The Southeast Asian nation experienced an economic boom and underwent rapid development during the late 20th century. With a GDP per capita standing at US$14,400, it has, from time to time, been considered a newly industrialized country.[2][3] On the income distribution, there are 5.8 million households in 2007.
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