Malaysia - Malaysia's population expected to peak at 57 million

Malaysia's population is expected to peak at 57 million by 2090 and the country could become an aging society in 2024 if current population trends continue.

The Department of Statistics made this projection based on Malaysia's increasing life expectancy and decreasing fertility rate that is recorded in the Population and Housing Census done throughout the years.

The population growth rate has slowed down to 12.7 per cent from 18.9 per cent a decade ago.

Minister in the Prime Minister's Department Nor Mohamed Yakcop, who announced the fifth census report (2010) Thursday (December 22), said the government was not worried about the possibility of an aging population as yet.

“The definition of an aging population is when the number of people aged over 65 is more than 7 per cent of the population,” he said.

“According to our projections, Malaysia will only reach that point in 2024. So we are still a growing population that is young and strong.”

On the economy, Nor Mohamed said Malaysia's overall performance for the year was encouraging despite the challenges faced due to the global economic slowdown and natural disasters around the world.

Up to September this year, Malaysia received 26.4 billion ringgit (US$8.33 billion) in foreign direct investments (FDI), which is 90.1 per cent of the total FDI received last year.

The minister said strong domestic demand and regional trade had sheltered the national economy from the global economic climate.

“Currently, 70 per cent of our exports go to Asian (countries) and only 18 per cent goes to the US and Europe,” he said.

The percentage of hardcore poor also decreased from 5.7 per cent in 2004 to 3.8 per cent in 2009.

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