Decent fundamentals but growth slowdown and political instability
BB2
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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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%
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1 |
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Singapore
14.0%
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2 |
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United States
11.5%
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3 |
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Hong-Kong
6.2%
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4 |
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Japan
6.1%
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5 |
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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
|
Collection Complexity
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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