Australia and Malaysia Economies: A Side-by-Side Table Comparison

In comparing Australia and Malaysia, we see distinct differences across key indicators. Malaysia’s population is about 1.3 times larger, while Australia boasts a surface area 23.5 times greater. Australia’s GDP is roughly four times larger, and its GDP per capita is significantly higher. Economic freedom is more pronounced in Australia, yet Malaysia faces greater income inequality. In defense spending, Australia outstrips Malaysia by over eight times, and while Australia imports more, Malaysia’s imports constitute a larger share of its GDP.

Basic Indicators

Indicator	Australia	Malaysia	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	33.94 million (44th)	Malaysia’s population is approximately 1.3 times larger than Australia’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.33 million sq. km (66th)	Australia is 23.5 times larger than Malaysia.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	407.03B USD (36th)	Australia’s total GDP is approximately 4.16 times larger than Malaysia’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	11,993 USD (68th)	Australia’s GDP per capita is roughly 450% higher than Malaysia’s, with Australians producing about $53,106 more per person annually.

Economic Indexes

Index	Australia	Malaysia	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.807 (60th)	Australia’s HDI is 0.946 (very high), while Malaysia’s is 0.807 (high). Australia’s score is 0.139 higher, indicating significantly better human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	65.7 (42nd)	Australia’s Index of Economic Freedom is 16% higher than Malaysia’s, 10.5 points more.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	41.2 (2018 est.)	With a 20% higher Gini coefficient, Malaysia has a higher degree of income inequality than Australia.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	Malaysia
Total imports	363.57B USD	283.60B
Imports % of GDP	19.71%	69.71%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	China 28%, Singapore 12%, US 6%, Taiwan 6%, Japan 5%
Main import items	refined petroleum, cars, garments, trucks, plastic products	integrated circuits, refined petroleum, crude petroleum, coal, vehicle parts/accessories
Total exports	447.51B USD	312.86B
Exports % of GDP	25.43%	76.95%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Singapore 14%, China 13%, US 12%, Japan 6%, Hong Kong 6%
Main export items	coal, iron ore, natural gas, gold, wheat	integrated circuits, refined petroleum, natural gas, palm oil, crude petroleum

Australia’s imports are 28% higher than Malaysia’s, but Malaysia’s imports make up a whopping 69.71% of its GDP, way more than Australia’s 19.71%. Australia’s exports are 1.4 times Malaysia’s, focusing on raw materials, while Malaysia’s exports are more tech-driven and vital to its economy.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	Malaysia
Military expenditure	32.3B USD	3.9B USD
Military expenditure (% of GDP)	1.90%	0.96%
Active military	59k	113k
Active military per 1,000 capita	3.8	13.6

Australia’s military expenditure is over eight times larger than Malaysia’s at $32.34 billion, and it allocates a significantly higher percentage of its GDP to defense at 1.90% compared to Malaysia’s 0.96%.