Economy of Selangor

 Economy

Northport Malaysia Wharf in Port Klang.

The economy of Selangor is constituted by a progressive market economy. The core sectors of Selangor's economy are commerce and agriculture.

Selangor is the richest state in the country in terms of gross domestic product (GDP) per capita (PPP), which stood at USD 33,147 in 2008, comparable to the nominal per capita values of Western Europe and Hong Kong. On 27 August 2005, Selangor was officially declared the first developed state in Malaysia by the then state government. In 2008, the state recorded a Human Development Index of 0.907 a figure comparable to modern advanced economies such as Germany, the United Kingdom and South Korea. But in 2010, a new report from UNDP was 0.810, still in the very high category.

Commerce and industry

Commerce, industry and services are a major contributor to the economy of Selangor, as it accounted for over 58% of the state's GDP in 2008. It has several industrial sites that produce electronic goods, chemicals and automotive vehicles, such as Proton and Perodua cars. Imported vehicles are also assembled in the state, such as Toyota, Nissan, Volkswagen, BMW Motors, Peugeot, Porsche, Volvo and many more.

Many international factories that are represented in the country have set up their bases here. Among the industrial cities in Selangor are Subang Jaya, Shah Alam, Klang, Kajang, Rawang, Selayang, Ampang Jaya and Petaling Jaya. Port Klang plays a key factor in the industrial development of Selangor as it is the busiest port in Malaysia. Selangor attracts foreign investors as well.

The services sector is the second largest contributor to GDP of 38% of the state.

Agriculture

1 Utama Shopping Center in Petaling Jaya is the largest shopping mall in Malaysia

Alongside industries, agriculture is a thriving sector of Selangor's economy. In 2008, agriculture contributed to 3.1% of the state's GDP at that time. Selangor is a significant state involved in the cultivation and growth of star fruits, papayas and bananas. While the state is not a major producer of rice, the paddy fields in Kuala Selangor contribute to the development of the district. Other agricultural activities that are conducted in Selangor include the establishment of palm oil and rubber plantation sites.

Tourism

Sepang International Circuit

Tourist attractions in Selangor include the National Zoo of Malaysia (Zoo Negara), Sepang International Circuit, Batu Caves and Sunway Lagoon in Bandar Sunway. There are also a number of pristine nature sites such as the Firefly Sanctuary in Kuala Selangor and the Selangor State Park.

The larger towns and cities in Selangor consist of various shopping malls that are frequented by tourists and locals, such as 1 Utama in Bandar Utama; The Curve, e@Curve (formerly known as Cineleisure Damansara), Ikano Power Centre and IKEA in Mutiara Damansara; Tropicana City Mall in Damansara Utama; Sunway Pyramid in Bandar Sunway; Mines Wonderland in Seri Kembangan; Subang Parade, Empire Subang and Summit USJ in Subang Jaya; IOI Mall in Puchong; ÆON Bukit Tinggi Shopping Centre and Bukit Raja Shopping Centre in Klang; Plaza Alam Sentral and SACC Mall in Shah Alam.

source:wikipedia.org