Primary industries and the Malaysian economy

Abstract

As you are all aware, the OECD countries experienced one of the worst rarely exceeded 34% of their labour fore on an annual basis, had exceeded 8% 1980, 1.2% in 1981 and 0.5% in 1982 while their unemployment rate, which by mid-1982. Capacity utilization in factories in the US was only 69.1% by September 1982 as compared to 78.3% a year earlier while world trade as measured by the rate of growth in exports, shrinked from 7.4% in 1979 to 2.3% gloomy scenario has now changed for the better, at least in the US where her in 1980, -1% in 1981 and marginally above zero in 1982. Fortunately, this rather GNP constitutes some 40% of the combined GNP of the OECD. The estimated combined OECD growth rate for 1983 is 2.3% per annum and this is projected to increase to 3.5% in 1984 and 3.0% in 1985. For the US, its estimated growth rate for 1983 is 3.5% and this is projected to rise to 5.0% in 1984. This growth momentum is, however, expected to decline to 3.0% in 1985.