Economy
Sarawak has an abundance of natural resources. LNG and petroleum have provided the mainstay of the Malaysia federal government's economy for decades while the State of Sarawak only gets a 5% royalty share from it. Sarawak is also one of the world's largest exporters of tropical hardwood timber and is the major contributor to Malaysian exports. The last UN statistics estimated Sarawak's sawlog exports at an average of 14,109,000 m³ between 1996 and 2000. In 2010, Sarawak had the 3 third largest state economy in Malaysia after Selangor and Johor with a total nominal GDP of RM 50,804M (USD$ 16,542M). Sarawak is also the 2nd largest state in terms of GDP per capita after Penang with RM 33,307.00 (USD$ 10,845.00) in 2010.
Read more about this topic: History Of Sarawak
Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)