Malaysia
Weak spots remain amid broadly strong macro-fundamentals
Last update – January 2024
Country rating
MEDIUM RISK FOR ENTERPRISE
Economic risk
Business environment risk
Political risk
Commercial risk
Financing risk
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GDP | USD406.3bn (World ranking 37, World Bank 2022) |
Population | 33.9mn (World ranking 45, World Bank 2022) |
Form of state |
Federal parliamentary constitutional monarchy |
Head of government |
Anwar Ibrahim |
Next elections |
2028, Presidential |
Strengths & weaknesses
- Member of the Association of Southeast Asian Nations (ASEAN)
- Robust domestic demand
- Healthy labor market
- Resilient banking sector
- Vulnerable to external pressures
- Export dependency leads to cyclical risk
- High level of private external debt and public debt needs monitoring
- Deteriorating business environment
Economic overview
Trade structure by destination/origin
(% of total, 2022)
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Exports | Rank | Imports | ||
Singapore 15.0% | 1 | 21.3% China | ||
China 13.6% | 2 | 10.5% Singapore | ||
United States 10.8% | 3 | 8.2% Taiwan | ||
Japan 6.3% | 4 | 7.8% United States | ||
China, Hong Kong SAR 6.1% |
5 |
6.4% Japan |
Trade structure by product
(% of total, 2022)
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Exports | Rank | Imports |
Electrical machinery, apparatus and appliances, n.e.s. 24.7% | 1 | 23.0% Electrical machinery, apparatus and appliances, n.e.s. |
Petroleum, petroleum products and related materials 13.0% | 2 |
15.5% Petroleum, petroleum products and related materials |
Gas, natural and manufactured 11.3% | 3 | 3.2% Coal, coke and briquettes |
Fixed vegetable oils and fats, crude, refined or fractionated 5.6% | 4 | 3.2% Non-ferrous metals |
Office machines and automatic data processing machines 4.4% | 5 | 3.1% Office machines and automatic data processing machines |
Contact
Francoise Huang
Allianz Trade
Allianz Trade
Contact Allianz Trade
Economic Research Team
Economic Research Team