Median age of the population in Malaysia 2020
The median age of the population in Malaysia is expected to reach 29.5 years in 2020, meaning that half of the population will be younger than this age and half will be older. Malaysia had an estimated population of 32.52 million in 2019, in line with a steady rise expected to continue through at least 2027. The average age has increased since its low point of 15.6 years in 1965 and is projected to increase to around 48 years by 2100.
Implications of average age
Average age is a single index that summarizes the age distribution of a population. In recent years, around 69 percent of the population in Malaysia has been aged between 15-64 years. This suggests that millions of Malaysians are of working age, and most are working: Malaysia has a relatively low unemployment rate at 3.36 percent as of 2018. Malaysia is considered to have one of the strongest economies in the region.
The Malaysian economy
Malaysia’s gross domestic product (GDP) is estimated to be around 373 billion U.S. dollars, with services and industry being the economic sectors with the greatest shares in GDP generation. The Malaysian economy is fueled by its natural resources, though its commerce and technology sectors have also expanded. Malaysia’s trade balance has been positive consistently for the last decade, i.e. the country has consistently reported trade surplus.
Implications of average age
Average age is a single index that summarizes the age distribution of a population. In recent years, around 69 percent of the population in Malaysia has been aged between 15-64 years. This suggests that millions of Malaysians are of working age, and most are working: Malaysia has a relatively low unemployment rate at 3.36 percent as of 2018. Malaysia is considered to have one of the strongest economies in the region.
The Malaysian economy
Malaysia’s gross domestic product (GDP) is estimated to be around 373 billion U.S. dollars, with services and industry being the economic sectors with the greatest shares in GDP generation. The Malaysian economy is fueled by its natural resources, though its commerce and technology sectors have also expanded. Malaysia’s trade balance has been positive consistently for the last decade, i.e. the country has consistently reported trade surplus.
