Malaysia has abundant mineral and forest resources. The country is rich in hydrocarbon fuels. Its offshore natural gas and oil deposits, which lie about 13th and 22nd respectively in the world rankings of reserves, are important sources of export revenue. Peninsular Malaysia was once one of the world’s largest producers of tin; in the early 1990s it ranked third after Brazil and Indonesia, although the late 1990s saw the decline of this industry, with Malaysia dropping to seventh place in 1998. Bauxite, iron, copper, and gold are also mined. Malaysia is also a leading producer of several cash crops. It is the largest producer of palm oil, accounting for about half of total world production, and the fourth-largest producer of cocoa. Malaysia was also formerly the world’s largest producer of rubber; by 1993, however, it had been overtaken by Thailand and Indonesia.
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