Decent fundamentals but growth slowdown and political instability

BB2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in May 2023.

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GDP USD372.98bn (World ranking 37, World Bank 2021)
Population 33.57mn (World ranking 45, World Bank 2021)
Form of state Constitutional Monarchy
Head of government Anwar Ibrahim (PM)
Next elections 2027, legislative
  • Member of the Association of Southeast Asian Nations (ASEAN)
  • Low inflation
  • Generally strong business environment
  • Resilient banking sector
  • Vulnerable to external pressures
  • Export dependency leads to cyclical risk
  • High level of private external debt
  • High household debt and high external debt burden

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
China 15.5%
1
23.2% China
Singapore 14.0%
2
9.5% Singapore
United States 11.5%
3
7.6% Taiwan
Hong-Kong 6.2%
4
7.6% United States
Japan 6.1%
5
7.5% Japan

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Electrical machinery, apparatus and appliances, n.e.s. 29.5%
1
26.4% Electrical machinery, apparatus and appliances, n.e.s.
Petroleum, petroleum products and related materials 9.1%
2
10.3% Petroleum, petroleum products and related materials
Fixed vegetable oils and fats, crude, refined or fractionated 5.4%
3
3.6% Office machines and automatic data processing machines
Office machines and automatic data processing machines 5.0%
4
3.0% Non-ferrous metals
Articles of apparel & clothing accessories 4.9%
5
3.0% Other industrial machinery and parts
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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