Malaysia Country Report: Economy, Society, COVID Impact

September 2020
Malaysia
Statista Country Report
Including COVID-19
economic impact
Featuring
risk indexes

Dear Reader,
find out more about Malaysia in our report focusing on the general
economy, trade, investment, society, infrastructure, consumers, politics,
and the environment.
The Statista Country Report provides a comprehensive overview about
the economy in Malaysia, with information relevant to manufacturing,
foreign direct investment, and the import and export business. Gain
insights into the major trends in Malaysia in order to assess the risks
and opportunities relevant for international business.
We hope our report proves to be useful and informative for you.
The Statista Country Reports
Maike Schlumbohm
Maike Zeppernick
Volker Staffa
Joline Franken
2

01
02
03
04
05
06
07
08
09
Introduction
▪ Overview
▪ Executive summary
▪ Business culture survey
Economy
▪ Economic conditions
▪ Public finances
▪ Labor force
Trade & investment
▪ Merchandise trade
▪ Commercial services
▪ Investments
Fitch Solutions risk indexes
▪ Development
▪ High and low performer
▪ Global and regional comparison
Society
▪ Population
▪ Income
▪ Human Development Index
Retail & consumption
▪ Retail structure
▪ Consumer behavior
▪ eCommerce & FinTech
Infrastructure
▪ Digital
▪ Transport
Environment
▪ CO2 emissions
▪ Particulate exposure
▪ Energy shares
Politics
▪ Political profile
▪ Political environment
Agenda
3

Achieved rapid economic transformation and growth in a relatively short time span
5
Growth driven mainly by macroeconomic stability
Malaysia, which gained independence in 1957, has one of the
strongest economies in Southeast Asia. Despite the global
slowdown, the country’s economy continues to grow primarily in
the wake of macroeconomic stability. Over the years, the country’s
economy has transformed rapidly from primarily agrarian in
nature to one with robust manufacturing and services sectors.
Malaysia is currently one of the leading exporters of electrical
appliances, parts, and components in the world. However, there is
growing concern about the adverse impact of this growth on the
rainforests of northern Borneo, which have been stripped by palm
oil plantations and illegal logging. The government is also a major
supporter of advanced technologies such as fifth-generation
wireless technology (5G), electric vehicles (EVs), and artificial
intelligence (AI) and has made them a priority. Notably, the
ethnically Malay majority wields the most political clout whereas
the ethnic Chinese minority has significant economic influence.
▪ The Petronas Towers in Kuala Lumpur were the tallest buildings
in the world until 2004.
▪ Malaysia’s self-declared poverty levels are the lowest in the
world and are thus met with significant global skepticism.
▪ Malaysia has two regions that are separated by 640 miles of the
South China Sea.
Malaysia is the economic jewel of Southeast Asia
Source: BBC, Worldbank, The Heritage Foundation, New Straits Times

COVID-19 outbreak: How Malaysia could be affected
6 Source: World Bank. Reuters, International Monetary Fund 2020, Statista, July 2020
How will COVID-19 influence the economy in Malaysia?
Malaysia’s government has just begun to lift restrictions of a nearly 50-
day-long shutdown. Under the Movement Control Order (MCO),
business and consumer activity were forced to come to an abrupt
standstill. By the beginning of May, nearly 1.5 million people had lost
their jobs, some of them permanently, and experts have estimated
losses of approximately US$15 billion.
Both large- and medium-sized enterprises have been affected to the
point that many face bankruptcy, and small- and medium-sized
enterprises constitute the bulk (98.5%) of Malaysia’s business model.
One of the reasons behind the country’s current predicament is the
continuous fiscal deficits it has incurred for more than a decade. In
addition, the challenges in the oil sector, where both prices and demand
have plummeted on a global scale, have further hampered Malaysia’s
ability to build up financial reserves. A scant 10% of the government’s
stimulus package is being directly funded by the government, and all
other funds will be borrowed or otherwise acquired.
The Malaysian government has announced a stimulus package of
around US$58 billion which includes one-off direct transfers to the
bottom and middle 40% of most affected businesses. Moreover, a
US$230 million food security fund will aid the agriculture sector in
increasing food production.
Malaysia’s long-running fiscal deficits make it particularly vulnerable to the pandemic’s economic impact
Adjusted GDP forecast in million US$ in Malaysia
348.544
335.300
2019 2020
363,881
-3.8%
Original 2020 forecast COVID-19 forecast

7
Perceived challenges before and after the first confirmed COVID-19 case1
COVID-19: perceived challenges
Note: Other events in addition to the COVID-19 crisis could have influenced the results of the survey
1: "What do you think are the most important issues your country is facing at the moment?"; Multi pick; n=2,100
Source: Statista Global Consumer Survey, as of April 2020
In Malaysia, the COVID-19 crisis has led to increased
concerns about health and social security
Poverty
Climate change
68%
Crime Immigration
Economic
situation
Health and
social security
Terrorism Unemployment
40%
6%
21%
16%
33%
11%
24%
68%
43%
62%
18%
14%
28%
21%
36%
Before After

8
General information
Overview (1/3)
1: Constant US$, see glossary for definition of current and constant
Source: CIA 2020, World Bank 2019, United Nations 2020, International Monetary Fund 2020, Columbia University 2020, Statista 2020
Malaysia
Capital:
Official language:
Main religion:
Main ethnic group:
Population:
Area:
Population density:
Total real GDP1 in 2019:
GDP1 per capita:
Profit tax:
Currency:
Exchange rate:
Time zone:
Calling code:
Kuala Lumpur
+60
31,949,789
329,847 sq km
96.0 people per sq km
US$348.5bn
US$10,909.1
19.6%
Ringgits (MYR)
USD/MYR = 4.18
Bumiputera
Muslim
UTC+8
Bahasa Malaysia

9
Religious affiliation in % of population
Overview (2/3)
Ethnic groups in % of population
Source: Pew Research Center 2015, CIA 2020, World Bank 2019
With a population of 8 million, Kuala Lumpur is the
largest urban area in Malaysia
Population in major urban areas Land use in % of total area
5.8%
0.2%
2.2%
15.7%
0.6%
66.1% 9.4%
Muslims Christians Folk Religions
Buddhists Hindus Unaffiliated
Other
61,7%
20,8%
10,4%
6.2%
0.9%
Indian
Bumiputera
Non-citizens
Chinese
Other
22.7% 7.0%
67.6%
2.7%
Forest area
Arable land Other
Permanent cropland
7.997.000
1.024.000 814.000
Kuala Lumpur Johor Bahru Ipoh

10
Major airports in Malaysia1
Kuala Lumpur International Airport, Kuala Lumpur
▪ Airport code: KUL
▪ Distance to city center: 61 km
Kota Kinabalu International Airport, Kota Kinabalu
▪ Airport code: BKI
Penang International Airport, George Town
▪ Airport code: PEN
Kuching International Airport, Kuching
▪ Airport code: KCH
Overview (3/3)
Flight times from regional hubs in hours (no. of stops)2
1: Busiest airports by number of Passengers-Malaysia Airports Holdings Berhad 2: Most direct and fastest routes are considered. Flight times for
17th July 2019-Google Flights; Information will be updated after flight schedule disruptions related to COVID-19 have been resolved
Note: Distances to city center are based on the shortest route calculated by Google Maps and rounded to full kilometers
Source: Google Flights 2019, Google Maps 2019
Malaysia sports 4 major airports – flight time from the
U.S. ca. 21-25 hours
Region Hub KUL BKI PEN KCH
North
America
New York City, the
U.S. (JFK)
21:25
(1)
21:55
(1)
20:55
(1)
25:00
(2)
Latin America
& Caribbean
São Paulo, Brazil
(GRU)
25:35
(1)
32:20
(2)
25:05
(1)
30:20
(2)
Europe &
Central Asia
London, the UK
(LHR)
12:50
(0)
16:55
(1)
15:20
(1)
15:55
(1)
East Asia &
Pacific
Hong Kong, Hong
Kong (HKG)
3:50
(0)
3:00
(0)
3:45
(0)
6:50
(1)
South Asia Delhi, India (DEL)
5:15
(0)
10:10
(1)
7:55
(1)
8:10
(1)
Middle East &
North Africa
Dubai, the UAE
(DXB)
7:15
(0)
11:20
(1)
10:05
(1)
11:20
(1)
Sub-Saharan
Africa
Johannesburg,
South Africa (JNB)
12:20
(1)
15:35
(1)
13:45
(1)
15:40
(1)

11
Economy
Executive summary (1/2)
Trade & investment
Malaysia is an upper middle-income country with a
population growth of 1.3% in 2020
▪ Real GDP is forecast to increase by 4.8% p.a. from 2019 to 2024
▪ Malaysia had a fiscal surplus of 0.2% of GDP in 2018
▪ Household consumption expenditure in Malaysia was higher than
regional average
▪ Unemployment rate was 3.3% in 2019 and is projected to be 3.5% in
2025
▪ It takes 17.5 days to start a business in Malaysia compared to the
regional average of 34.9 days
▪ In the "labor market" area, Malaysia is 14.4 points behind the regional
high performer
▪ With an index score of 70.0, the operational risk in Malaysia is
relatively low
▪ Malaysia registered a lower export trade flow than the regional
average in 2018
▪ In 2018, total merchandise exports amounted to US$247.5 billion
▪ The share of travel in services-related exports is lower than the
regional average in 2018
▪ In 2018, total services-related exports amounted to US$39.5 billion
▪ Inward FDI amounted to US$8,091 million in 2018

12
Society, retail & consumption
Executive summary (2/2)
Environment & politics
In global comparison, Malaysia has a very high level of
human development
▪ Population projected to reach 38.8 million by 2040
▪ In global comparison, Malaysia has a very high level of human
development
▪ The retail market in Malaysia is well-developed
▪ Consumers in Malaysia spend the most in the area of "Food, non-
alcoholic beverages"
▪ With US$3,249.9m and a share of 51.9%, eCommerce generated the
highest digital revenues in 2019
▪ The total FinTech transaction value is forecast to grow by 15.2% from
2019 to 2024
▪ 90.8% used the internet and there were 135.7 mobile cellular
subscriptions per 100 people
▪ Malaysia had the 25th highest CO2 emissions in 2018
▪ In a 2017 global comparison, Malaysia had a rather low exposure to
particulates
▪ Compared to the average of the continent, Malaysia has a higher
share in renewables
▪ Malaysia is a federal parliamentary constitutional monarchy
▪ Rule of Law in Malaysia is high
▪ Control of corruption is rated as medium
▪ Regulatory quality in Malaysia is on a high level
▪ Moderate risks of violence and/or terrorism due to political instability

13
Doing business (1/2)
▪ Meetings are arranged with consideration for praying times. Meetings
may or may not start on time depending on the host, as Malaysians
are generally known to be tardy for meetings and events.
Things you didn‘t know about Malaysian business
culture
Note: Please refer to the appendix for further information on the methodology of data collection
Source: Statista 2019
▪ Malaysians prefer both direct and indirect communication.
▪ Physical contact, such as handshakes and sometimes hugs, is used to
greet business clients and partners, though care is to be taken when
interacting with opposite genders. Malaysian people use the phrase
‘lah’ or ‘mah’ after their answer (it doesn’t affect the meaning of the
sentence).
▪ The official language of Malaysia is Malay. Being able to speak in
Malay is an advantage, but it is generally not necessary to speak it.
▪ Hierarchy is rather important in Malaysian business structure.
▪ Bargaining is common.
▪ Business conflicts are resolved through discussion.
Communication standards Business meeting procedures
Conflict management

14
▪ Business network is important but does not have such an impact on
doing business in the country.
▪ One can carry out business even without having proper connections,
but having connections is always a plus point.
Doing business (2/2)
▪ Both men and women hold almost equal importance in business life
in Malaysia.
▪ February and June are slow business months because of Chinese New
Year and Ramadan, where most of the people are taking a long
vacation.
▪ There has been an increasing focus on maintaining a good work-life
balance especially because of a rise in cases of people suffering from
depression. Companies now arrange activities to build camaraderie
among employees.
Things you didn‘t know about the Malaysian business
culture
Note: Please refer to the appendix for further information on the methodology of data collection
Importance of business networks
Slow business months Work-life balance
Gender equality

16
Real GDP1 in billion US$2
Economic conditions: real GDP (1/3)
1: Real gross domestic product (GDP) is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy
in a given year, expressed in base-year prices, and is often referred to as "constant-price," "inflation-corrected" GDP, or "constant dollar GDP"
Unlike nominal GDP, real GDP can account for changes in price level and provide a more accurate figure of economic growth 2: Constant US$,
see glossary for definition of current and constant US$ 3: CAGR: Compound Annual Growth Rate / average growth rate per year
Source: International Monetary Fund 2020, Statista, July 2020 (forecast adjusted for expected impact of COVID-19)
Real GDP is forecast to increase by 4.4% p.a. from
2019 to 2024
207,5
223,1
234,9
247,8
259,4
275,0
288,8
301,6
319,0
334,1
348,5
335,3
356,4
381,7
407,0
432,3
2015
2012
2009 2011
2010 2016 2023
2013 2014 2017 2018 2019 2020 2021 2022 2024
+5.3%
+4.4%3
Statista forecast based on IMF

17
Real GDP1 growth, real GDP and real GDP per capita in US$2 in
Note: Regional average value is calculated using data from the countries covered by the Statista Country Reports and the source
1: See previous slide for definition 2: Constant US$, see glossary for definition of current and constant
Source: International Monetary Fund 2020, Statista 2020
Real GDP per capita at US$10,909.1 was lower than
average in 2019
Southeast Asia in 2019
0
1
2
3
4
5
6
7
8
0 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 45.000 50.000 55.000 60.000 65.000
Singapore
Brunei Darussalam
Indonesia
Malaysia
Cambodia
Laos
Myanmar
Philippines
Thailand
Timor-Leste
Vietnam
Southeast Asia
Regional average
Real GDP growth 2018-2019 in % Real GDP: US$250 billion
Real GDP per capita in US$ in 2019

18
Real GDP1 per capita in US$2 in 2019 and variation since 2018
Note: Not all countries covered by the Statista Country Reports are considered for the comparison
1: See previous slide for definition 2: Constant US$, see glossary for definition of current and constant
Source: International Monetary Fund 2020, Statista 2020
Malaysia has the 54th highest real GDP per capita
# Country Value Change
1 Luxembourg 107,236.6 →
2 Switzerland 82,070.1 →
3 Ireland 78,485.3 ↑
4 Iceland 76,428.9 ↑
5 Norway 75,885.4 →
6 United States 62,479.3 ↑
7 Singapore 61,121.4 ↓
8 Qatar 59,861.9 ↓
9 Denmark 59,766.9 ↑
10 Australia 57,591.1 →
11 Sweden 55,735.1 →
12 Netherlands 50,921.3 ↑
13 Austria 48,491.2 →
14 Finland 46,929.5 →
15 Canada 45,819.5 →
16 Germany 44,791.9 →
17 New Zealand 44,678.5 ↑
18 Israel 44,394.4 ↑
19 Belgium 44,296.3 →
20 France 41,005.8 ↑
21 United Kingdom 40,203.0 →
22 United Arab Em. 39,832.6 ↓
23 Japan 38,771.5 →
24 South Korea 33,207.8 ↑
25 Italy 32,562.4 →
26 Malta 32,388.5 ↑
27 Spain 29,386.4 ↑
28 Brunei Darussal. 29,087.9 ↑
29 Kuwait 28,609.2 ↓
30 Slovenia 24,906.9 ↑
31 Portugal 22,685.6 ↑
32 Bahrain 22,414.5 ↓
33 Estonia 22,135.6 ↑
34 Czechia 21,307.3 ↑
35 Saudi Arabia 20,650.9 ↓
36 Greece 20,175.7 ↑
37 Cyprus 19,863.1 ↑
38 Slovakia 18,654.3 ↑
39 Lithuania 18,611.5 ↑
40 Uruguay 17,518.6 ↓
41 Latvia 16,923.2 ↑
42 Seychelles 16,585.8 ↑
43 Hungary 15,942.1 ↑
44 Panama 15,707.4 ↑
45 Chile 15,387.3 ↓
46 Poland 15,217.3 ↑
47 Oman 14,508.5 ↓
48 Croatia 14,155.5 ↑
49 Argentina 13,698.1 ↓
50 Costa Rica 12,232.5 ↑
51 Romania 11,879.9 ↑
52 Russia 11,262.6 ↑
53 Mauritius 11,213.3 ↑
54 Malaysia 10,909.1 ↑
55 Turkey 10,607.4 ↓
56 Brazil 9,991.4 →
57 China 9,689.1 ↑
58 Kazakhstan 9,551.6 ↑
59 Mexico 9,249.1 ↓
60 Bulgaria 8,854.1 ↑
61 Cuba 8,834.7 ↑
62 Montenegro 8,415.1 ↑
63 Dominican Republic 8,389.3 ↑
64 Botswana 8,117.4 →
65 Equatorial Guinea 7,934.4 ↓
66 Turkmenistan 7,205.4 ↑
67 Gabon 7,162.3 →
68 Lebanon 7,162.0 ↓
69 Peru 6,997.9 →
70 Thailand 6,975.4 ↑
71 Serbia 6,879.9 ↑
72 Colombia 6,561.1 ↑
73 Fiji 6,281.0 ↓
74 Ecuador 6,083.7 ↓
75 Belarus 6,044.6 ↑
76 South Africa 6,023.5 ↓
77 Bosnia and Herzeg. 5,829.0 ↑
78 North Macedonia 5,821.1 ↑
79 Paraguay 5,752.5 ↓
80 Suriname 5,545.3 ↑
81 Namibia 5,422.7 ↓
82 Jamaica 5,156.2 →
83 Iraq 5,138.1 ↑
84 Guyana 4,931.3 ↑
85 Belize 4,905.8 ↓
86 Albania 4,820.4 ↑
87 Guatemala 4,601.6 ↑
88 Iran 4,540.4 ↓
89 Armenia 4,413.1 ↑
90 Sri Lanka 4,367.9 ↑
91 Azerbaijan 4,273.7 ↑
92 Jordan 4,197.0 →
93 Georgia 4,159.9 ↑
94 Indonesia 4,144.0 ↑
95 El Salvador 4,048.8 ↑
96 Mongolia 3,993.2 ↑
97 Algeria 3,970.0 ↓
98 Angola 3,734.3 ↓
99 Tunisia 3,535.0 ↓
100 Bolivia 3,516.0 ↑
101 Bhutan 3,383.7 ↑
102 Philippines 3,263.9 ↑
103 Morocco 3,167.3 →
104 Ukraine 2,715.7 ↑
105 Laos 2,650.4 ↑
106 Papua New Guinea 2,645.6 ↑
107 Vietnam 2,621.0 ↑
108 Egypt 2,619.3 ↑
109 Moldova 2,576.4 ↑
110 Honduras 2,520.9 →
111 Ghana 2,186.3 ↑
112 India 2,144.4 ↑
113 Timor-Leste 2,084.0 ↑
114 Uzbekistan 1,962.3 ↑
115 Nicaragua 1,951.8 ↓
116 Nigeria 1,950.9 ↓
117 Bangladesh 1,873.0 ↑
118 Ivory Coast 1,687.3 ↑
119 Kenya 1,680.9 ↑
120 Rep. of the Congo 1,671.1 ↓
121 Cambodia 1,549.2 ↑
122 Pakistan 1,533.0 ↑
123 Zambia 1,529.6 ↓
124 Cameroon 1,460.0 ↑
125 Senegal 1,442.0 ↑
126 Zimbabwe 1,418.9 ↓
127 Kyrgyzstan 1,297.6 ↑
128 Myanmar 1,269.7 ↑
129 Lesotho 1,260.6 →
130 Benin 1,221.3 ↑
131 Tanzania 1,042.9 ↑
132 Sudan 1,012.5 ↓
133 Nepal 1,005.0 ↑
134 Guinea 907.6 ↑
135 Tajikistan 884.1 ↑
136 Rwanda 865.2 ↑
137 Ethiopia 793.6 ↑
138 Haiti 766.4 ↓
139 Gambia 720.5 ↑
140 Burkina Faso 685.4 ↑
141 Uganda 667.0 ↑
142 Chad 665.7 ↓
143 Togo 655.7 ↑
144 Sierra Leone 519.0 ↑
145 Madagascar 464.0 ↑
146 Mozambique 438.2 ↓
147 Niger 395.6 ↑
148 Malawi 360.6 ↑
149 Burundi 306.3 ↓

19
Value added1 by sector in % of GDP
Economic conditions: value added by sector
1: Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making
deductions for the depreciation of fabricated assets or the depletion and degradation of natural resources
Source: World Bank 2019
Services accounted for 53% of GDP in 2018
49,0% 52,0% 53,0%
40,1%
38,4% 38,3%
9,8% 8,3% 7,5%
1,2% 1,2%
1.0%
2012 2015 2018
Services Industry Agriculture Other

20
Inflation1 and central bank interest rates2,3
Economic conditions: inflation and interest rates
1: Percent change in annual average consumer prices 2: Monetary policy-related interest rate, percent per annum 3: Data is not available for
every year
Source: International Monetary Fund 2020
The inflation rate is projected to increase from 2019
to 2021
When interest rates are low, individuals and businesses tend to take more loans. Each bank loan increases the money supply in a fractional reserve
banking system. According to the quantity theory of money, a growing money supply increases inflation. Thus, a lower interest rate tends to result in a
higher inflation. High interest rates tend to lower inflation. Consumers tend to save when interest rates are higher, as returns from savings are higher.
More money put aside into savings means less disposable income. This results in slower economy and decreased inflation. Inflation levels are
estimated after 2019 by the IMF. Due to the high degree of uncertainty in current global economic conditions, the IMF forecast of the inflation rate is
only provided until 2021.
2014
2010 2013
2008 2016
2009 2011 2021
2018
2012 2017 2019
2015 2020
0.7%
0.6%
3.0%
1.0%
2.1%
3.1%
3.0%
5.4%
3.3%
2.0%
1.7%
2.8%
3.2%
1.7%
3.0%
3.8%
3.0%
2.1%
3.3% 3.3%
2.1%
3.0%
3.0%
3.3%
0.1%
2.8%
Inflation Central bank interest rates

21
Revenues1 and expenses2 in % of GDP
Public finance: expenditure and revenue (1/2)
1: Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales.
Grants are also considered as revenue but are excluded here. 2: Expense is cash payments for operating activities of the government in
providing goods and services. It includes compensation of employees (such as wages and salaries), interest and subsidies, grants, social benefits,
and other expenses such as rent and dividends
Malaysia had a fiscal surplus of 0.2% of GDP in 2018
2010 2016 2017
2011
21.0%
2015
17.0%
18.6%
2012 2013 2014 2018
16.8%
19.4%
18.2%
20.6%
20.3%
15.9%
19.7%
21.4%
20.9%
19.9% 19.7%
18.3%
16.1% 15.8% 16.1%
+0.2%
Revenue Expenses

22
Expenditure in % of GDP in 2018
Public finance: expenditure and revenue (2/2)
1: Expenditure by resident households and non-profit institutions providing households with individual consumption goods and services
2: Expenditure on individual consumption goods and services and collective consumption services 3: Including acquisitions minus disposals of
valuables 4: Value of entries into inventories minus the value of withdrawals and value of any recurrent losses of goods held in inventories
Source: United Nations 2020, Statista 2020
Household consumption expenditure in Malaysia was
higher than regional average
General government
final consumption
expenditure2
57.4%
-61.1%
Changes in
inventories4
Household
consumption
expenditure1
Gross capital
formation3
Exports of goods
and services
Imports of goods
and services
Other
53.5%
12.0% 14.5%
24.2%
27.7%
-0.6%
1.0%
68.8%
63.6%
-61.7%
0.0%
0.9%
Malaysia Southeast Asia

23
General government gross debt1 in % of GDP
Public finances: debt
1: Gross government debt consists of all liabilities (such as loans, insurance, pensions, and debt securities) that require payment or payments of
interest and/or principal by the debtor (government) to the creditor at a date or dates in the future
Source: International Monetary Fund 2020, Statista, July 2020 (forecast adjusted for expected impact of COVID-19)
Debt-to-GDP ratio in Malaysia is expected to increase
over the observed time period
2012
63.7%
2024
2011 2013
55.8%
2017
57.0%
2014 2015
51.9%
2019
2016 2018
40.7%
2020 2021
40.5%
2022
55.6%
2023
53.8%
51.9%
57.7%
39.4%
55.7% 55.4% 56.3%
40.4% 41.2% 41.8%
54.4%
41.9%
61.5%
42.6% 43.0%
61.0%
52.5%
64.6%
62.7%
54.4%
56.2%
Statista forecast based on IMF
Southeast Asia
Malaysia

24
Net official development assistance1 received in % of gross capital formation
Public finances: development assistance received
1: Net official development assistance (ODA) consists of disbursements of loans made on concessional terms (net of repayments of principal)
and grants by official agencies of the members of the Development Assistance Committee (DAC), by multilateral institutions, and by non-DAC
countries to promote economic development and welfare in countries and territories in the DAC list of ODA recipients. It includes loans with a
grant element of at least 25% (calculated at a discount rate of 10%); Source: World Bank 2019, Statista 2020
Malaysia received less development aid in 2018 than
in 2008
2010 2014
2008
9.75%
2012
-0.04%
0.39%
2009
10.03%
2011 2013 2015
8.74%
2016 2017 2018
0.32%
23.29%
11.80%
-0.01%
14.12%
0.00%
0.06% 0.02% 0.02%
10.36%
-0.14%
12.02%
8.38%
-0.07%
7.97%
-0.04%
-114.2%
n.a.

25
Total labor force1 in thousand
Labor force: development
1: The sum of individuals in employment plus individuals in unemployment. Together, these two groups of the population represent the current
supply of labor for the production of goods and services taking place in a country through market transactions in exchange for remuneration
Source: International Labour Organization 2019
Total labor force to grow to 17 million by 2024
61.5%
62.8%
65.0%
34.9%
13,940
2009
13,336
65.1%
38.2%
2010 2017
35.5%
38.3%
2011
36.0%
64.0%
2024
2012
61.5%
37.2%
15,381
2013
11,983
37.8%
12,267
62.2%
2014
15,114
38.0%
38.7%
38.5%
61.8%
61.3%
62.0%
2015 2020
2016
61.7%
38.3%
61.7%
2018
38.4%
61.6%
14,612
2019
38.5%
14,852
2021
35.0%
61.4%
2022 2023
38.8%
61.2%
64.5%
38.6%
14,283
15,673 15,953 16,218 16,475 16,723 16,961
12,824
+41.5%
Male Female

26
Employment in % of total labor force Educational attainment of population aged 15 and
above in 2020
1: Generally prepares students for a direct entry into working life or for upper secondary education 2: Corresponds to the final stage of
secondary education and prepares the students for a working life or tertiary education 3: Includes programs that serve to broaden the
knowledge of students who have already gained an upper secondary education
Source: International Labour Organization 2019, Wittgenstein Centre for Demography and Global Human Capital 2018
In 2024, most employees will work in the services
sector
9.6%
63.1%
10.7%
27.2%
62.2%
9.3%
26.5%
2020
64.4%
26.8%
2018
10.1%
63.8%
2022
26.3%
2024
Services Agriculture
Industry
4,6%
4,0%
7,6%
22,3%
43,8%
17,7%
No education
Lower secondary1
Primary
Incomplete primary
Upper secondary2
Post secondary3
Labor force: employment

27
Unemployment1 in % of total population
Labor force: unemployment
Unemployment1 in % of total population
Unemployment rate was 3.3% in 2019 and is
projected to be 3.5% in 2025
2016 2017
3.1%
3.9%
3.9%
2018
3.1%
2019
3.1%
3.8%
3.1%
3.7%
Male Female
2021
2018 2023
2020
2019 2022 2024 2025
3.4%
3.9%
4.9%
3.4%
3.4%
3.3% 3.3%
3.4%
3.5% 3.5%
3.4%
3.5%
3.4%
3.5%
3.4%
3.5%
1: Unemployment refers to the share of the labor force that is without work but available for and seeking employment
Source: World Bank 2020, ILO 2020, Statista 2020 (forecast adjusted for expected impact of COVID-19)

28
Business administration in 2019
Business environment: administrative framework
1: Number of calendar days needed to complete the procedures to legally operate a business 2: Number of years from the filing for insolvency
in court until the resolution of distressed assets 3: Time associated with compliance with the documentary requirements of all government
agencies of the origin economy, the destination economy and any transit economies 4: In 2018, includes e.g., speed, simplicity, and predictability
of customs clearance (5 = high efficiency, 1 = low efficiency); Source: World Bank 2019, Statista 2020
It takes 17.5 days to start a business in Malaysia
compared to the regional average of 34.9 days
Delivery in 2019
Time needed
to start a business1
Time needed
to register property
Time needed to fulfill
tax requirements
Time needed to resolve
insolvency2
Time needed
to export3
Time needed
to import3
Efficiency of
customs clearance4
17.5 days
34.9 days
11.5 days
59.1 days
174.0 hours
210.6 hours
1.0 years
2.8 years
Malaysia
Southeast Asia
10.0 hours
63.1 hours
Malaysia
Southeast Asia
6.5 hours
64.3 hours
2.9
2.8

29
Percentile rankings in Global Competitiveness Index 4.0 in 2019
Business environment: competitiveness
Source: World Economic Forum 2019
Malaysia takes 27th place in competitiveness
▪ Malaysia ranks #27 in a comparison of 141
countries covered by the source.
▪ Percentile rank indicates the country’s place in the
ranking, with 0 corresponding to lowest rank, and
100 to highest rank.
▪ The Global Competitiveness Index 4.0 includes 103
indicators of infrastructure, information and
communications technology adoption,
macroeconomic stability, efficiency enhancers, and
innovation factors that determine the level of
competitiveness of a country.
▪ Competitiveness is a set of institutions, policies,
and factors that determine the level of productivity
of an economy.
▪ Highly competitive economies are more
productive and have higher chances of long-term
prosperity than less competitive economies.
0%-20% 21%-40% 61%-80% 81%-100%
41%-60%

30
New businesses registered
Business environment: business formation
Ease of doing business score2 in 2019
Score for "starting a business" was higher than
1: CAGR: Compound Annual Growth Rate / average growth rate per year 2: 0 = lowest performance, 100 = best performance
Source: World Bank 2019, Statista 2020
46.555
48.418
49.580 50.521 51.283
2016 2024
2018 2020 2022
+1.2%1
83,3 81,8
68,2
49,7
75,0
61,8
Southeast Asia
Malaysia
Getting credit
Starting a business Enforcing contracts

31
Rank
Business environment: selected top companies
Total revenue in million US$ in 2 Listing ID
Source: Market data by Xignite
Tenaga Nasional Bhd. registered the most revenue
Company1 No. of employees
in 2
2
3
4
5
6
7
8
1
9
10
12.488,4
9.676,1
8.651,0
7.451,7
6.461,6
5.919,5
5.041,0
4.851,4
4.318,2
3.839,2
1: Only stock-listed companies headquartered in Malaysia 2: Company 3 - 2019, Company 9 - 2019, Company 10 - 2019
2018
2018
Tenaga Nasional Bhd.
Malayan Banking Bhd.
Sime Darby Bhd.
Petronas Dagangan Bhd.
CIMB Group Holdings Bhd.
Axiata Group Bhd.
Public Bank Bhd.
PETRONAS Chemicals Group Bhd.
YTL Corp Bhd.
Batu Kawan Bhd.
35,574
43,000
19,909
n.a.
36,104
12,059
18,721
n.a.
13,753
n.a.
XKLS: 5347
XKLS: 1155
XKLS: 4197
XKLS: 5681
XKLS: 1023
XKLS: 6888
XKLS: 1295
XKLS: 5183
XKLS: 4677
XKLS: 1899

33
Export trade flows of total merchandise1
Merchandise trade: regional comparison (1/2)
Import trade flows of total merchandise1
1: Goods that add or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic territory
Source: World Trade Organization 2020, Statista 2020
Malaysia registered a lower export trade flow than the
70
2017
2013
90
2014
2012 2015 2018
2016
80
100
110
120
130
140
150
Malaysia Southeast Asia Singapore
2017
90
2012 2018
2013 2014 2015
70
2016
80
100
110
120
130
140
150
2012 = 100% 2012 = 100%

34
Shares in merchandise1 trade export values in
Merchandise trade: regional comparison (2/2)
Shares in merchandise1 trade import values in
1: See previous slide for definition
The share of manufacturers in merchandise exports is
higher than the regional average in 2018
Fuels & mining
Manufacturers Agricultural products
68.6%
72.7%
53.4%
19.8%
22.8%
14.0%
10.8%
13.9%
3.8%
12.1%
Manufacturers Fuels & mining
16.5%
Agricultural products
69.0% 66.5%
66.3%
19.9%
24.8%
9.2%
4.0%
2018 2018

35
Merchandise1 export trade flows in billion US$2
Merchandise trade: trade flows
Merchandise1 import trade flows in billion US$2
1: See previous slide for definition 2: Current US$, see glossary for differences between current and constant US$ 3: CAGR: Compound Annual
Growth Rate / average growth rate per year
Source: World Trade Organization 2020
In 2018, total merchandise exports amounted to
US$247.5 billion
1.2
58.5
51.7
1.9
33.9
169.7
58.4
26.8
33.8
40.8
0.8
30.0
2012
140.0 138.4
2013
30.1
25.5
144.2
2014
28.6
25.4 1.5
132.9
2015
128.8
2016
2.4
42.1
1.5
145.0
2017
1.9
49.1
2018
+1.4%3
Manufacturers Other
Agricultural products
Fuels & mining
4.2
46.9
21.4
37.7
133.1
2018
20.0
2012
4.7
45.7
135.6
2013
4.3
20.2
137.4
34.8
2014
3.5
18.5
31.8
122.2
2015
3.3
17.5
25.7
122.1
2016
4.7
19.4
136.5
2017
150.0
4.2
20.0
43.3
+1.7%3

36
Export trade flows of total commercial services1
Commercial services: regional comparison (1/2)
Import trade flows of total commercial services1
1: Comprises all services categories except "government services not identified elsewhere." Commercial services are subdivided into
goods-related services, transport, travel, and other commercial services
Malaysia registered a lower export trade flow than the
2018
2015 2017
2012 2013
200
2014 2016
80
100
220
120
140
160
180
240
2012 = 100%
2015
2013
2012 2014 2016
80
2017
160
2018
100
120
140
180
200
220
240 2012 = 100%

37
Shares in commercial services1 export value in
Commercial services: regional comparison (2/2)
Shares in commercial services1 import value in
The share of travel in services-related exports is lower
than the regional average in 2018
48.4%
3.7%
Travel
28.0%
Transport Goods-related services
12.7%
55.0%
12.8%
11.2%
8.6% 8.6%
Southeast Asia
Malaysia Singapore
Travel Goods-related services
Transport
27.1%
25.2%
13.6%
33.8%
26.9%
28.9%
1.4% 0.9% 0.4%
2018 2018

38
Commercial services1 export trade flows in billion US$2
Commercial services: trade flows
Commercial services1 import trade flows in billion US$2
1: See previous slide for definition 2: Current US$, see glossary for differences between current and constant US$ 3: CAGR: Compound Annual
Growth Rate / average growth rate per year
Source: World Trade Organization 2020
In 2018, total services-related exports amounted to
US$39.5 billion
4.5
4.2
2012
20.3
13.2
4.7
2.7
2018
21.5
2013
11.8
2.8
22.6
4.8
2014
10.4
2.5
2.9
17.7
2015
10.6
2.6
18.1
4.5
2016
11.2
2.9
18.4
2017
12.0
3.4
5.0
19.1
12.9
4.2
-0.4%3
Travel Other
Transport Goods-related services
19.6
19.0
2012
0.3
11.6
0.4
12.2
12.2
20.1
12.2
2013
0.3
10.7
12.7
12.4
2014
18.3
0.4
10.5
10.5
19.7
10.7
2015 2017
19.1
0.5
9.8
19.4
2016
0.5
11.4
0.6
11.9
12.0
2018
+0.4%3

39
Top global inward FDI1 flows in billion US$2 in 2018
Investments: global comparison (1/2)
Note: Only countries covered by the Statista Country Reports are considered for the comparison
1: Foreign direct investment is an investment made by a resident enterprise in one economy (direct investor or parent enterprise) with the
objective of establishing a lasting interest in an enterprise that is resident in another economy 2: Current US$, see glossary for differences
between current and constant US$
Source: United Nations Conference on Trade and Development 2019
With US$254.7 billion, China registered the highest
inward FDI flow in 2018
Asia
Africa
Europe
Americas
Australia
& Oceania
Rep. of the Congo
China
251.8
Singapore
Egypt
India
South Africa
39.6
Indonesia
Morocco
Netherlands
31.6
United Kingdom
Spain
1.4
254.7
France
USA
Brazil
New Zealand
Canada
3.6
4.3
Mexico
Australia
77.6
42.3
22.0
6.8
5.3
69.7
64.5
43.6
37.3
61.2
60.4

40
Top global outward FDI1 flows in billion US$2 in 2018
Investments: global comparison (2/2)
1: See previous slide for definition 2: Current US$, see glossary for differences between current and constant US$
China also had the highest outward FDI sum in 2018
with US$215.0 billion
Asia
Africa
Europe
Americas
Australia
& Oceania
Morocco
China
Algeria
France
South Africa
59.0
Germany
Japan
49.9
South Korea
Singapore
Nigeria
Netherlands
United Kingdom
Canada
4.6
Mexico
Colombia
Australia
New Zealand
6.9
0.9
215.0
50.5
143.2
38.9
37.1
1.4
0.7
102.4
77.1
5.1
3.0
3.6
0.4
Chile

41
FDI1 inward and outward flows in million US$2
Investments: development
1: See previous slide for definition 2: Current US$, see glossary for differences between current and constant US$
Inward FDI amounted to US$8,091 million in 2018
12.197,6 12.115,5
10.877,3
10.082,3
11.335,9
9.398,8
8.091,0
17.143,1
16.369,1
5.280,3
2016 2018
2013
2012
2011 2014 2015 2017
14,107.2
15,248.9
8,011.2
9,238.8
10,545.9
5,638.5
Inward flows Outward flows
Note: FDI flows with a negative sign indicate that at least one of the three components of FDI (equity capital, reinvested earnings, and/or
intracompany loans) is negative and not offset by positive amounts of the remaining components. These are instances of reverse investment or
disinvestment

FITCH
SOLUTIONS
RISK INDEXES
42

43
The risk/reward indexes by Fitch Solutions constitute a comparative
regional ranking system that classifies different markets by the ease of
doing business there as well as operational risks and limitations faced by
potential investors. The operational risk index uses quantitative
measures to compare the challenges of operating in 201 countries
worldwide. The index attributes scores between 0-100 to each country,
with 100 being the lowest risk.
The index focuses on four main risk areas:
▪ Labor market: evaluation of the risks in regard to the size, education
levels, and costs of employing workers in a country
▪ Logistics: evaluation of the quality and extent of the transport
infrastructure, the ease of trading, and the quality and availability of
utilities
▪ Trade & investment: evaluation of the openness of an economy, the
level of government intervention, and the quality and efficacy of the
legal environment
▪ Crime & security: evaluation of operating conditions with respect to
interstate conflict risk, terrorism, and crime, including cybercrime and
organized crime
Methodology
Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings. Any
comments or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings'
analysts do not share data or information with Fitch Solutions Macro Research
Source: Fitch Solutions 2019
Operational risk breakdown
Operation risk index
(100%)
Labor market
(25%)
Logistics
(25%)
Trade & investment
(25%)
Crime & security
(25%)
Education Transport network
Economic
openness
Conflict risk
Availability of labor
Trade procedures
and governance
Legal
Vulnerability
to crime
Labor costs
Market size
and utilities
Government
intervention
Business crime

44
Development of overall operational risk index1
Development
Development of subindexes1
Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings.
Any comments or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings'
analysts do not share data or information with Fitch Solutions Macro Research
1: Scale of 0-100, with 100 being the lowest risk
Source: Fitch Solutions 2019
Overall index score increased in 2019, which means
that the operational risk for Malaysia decreased
68,4
67,2
67,9
70,0
2017
2016 2018 2019
58,5
58,3
61,7 63,9
75,4 75,7 75,8
76,2
72,7
73,5 73,6
65,1
62,5
60,5
2016 2017 2018 2019
73.7
66.8
Trade & investment
Logistics
Labor market
Crime & security

45
Comparison of country scores to highest and lowest regional and worldwide scores1 in 2019
Comparison: high and low performer
analysts do not share data or information with Fitch Solutions Macro Research. Not all countries covered by the Statista Country Reports are
considered for the comparison
1: Scale of 0-100, with 100 being the lowest risk; Source: Fitch Solutions 2019
In the "labor market" area, Malaysia is 14.4 points
behind the regional high performer
Global
high/low
Regional
high/low
Labor market Logistics Trade & investment Crime & security
63,9
Malaysia
37,9
78,2
Timor-Leste
Singapore
75,8
Malaysia
19,6
75,8
Timor-Leste
Malaysia
73,6
Malaysia
27,8
88,6
Timor-Leste
Singapore
66,8
Malaysia
17,8
86,3
Myanmar
Singapore
25,5
81,3
Sierra Leone
United States
15,8
88,6
Yemen
Netherlands
13,1
88,6
Venezuela
Singapore
4,8
88,3
New Zealand
South Sudan

46
Operational risk index1 in 2019 and variation since 2018
Comparison: global comparison
Malaysia had the 25th lowest operational risk in 2019
1 Singapore 82.0 ↓
2 Denmark 80.4 →
3 Netherlands 78.4 ↓
4 Sweden 78.0 ↓
5 Switzerland 77.7 ↓
6 New Zealand 77.5 →
7 United States 77.2 →
8 Canada 77.0 ↑
9 United Kingdom 76.8 ↓
10 Norway 76.2 ↓
11 Finland 74.2 ↓
12 Ireland 73.9 →
13 Austria 73.7 ↓
14 Luxembourg 72.8 ↓
15 United Arab Emirates 72.4 ↑
16 Germany 72.3 ↓
17 Australia 72.0 ↓
18 South Korea 71.9 ↑
19 Japan 71.8 ↓
20 France 71.8 ↓
21 Estonia 71.4 →
22 Iceland 71.4 ↑
23 Belgium 71.3 ↓
24 Spain 71.3 ↓
25 Malaysia 70.0 ↑
26 Lithuania 69.6 ↑
27 Czechia 69.5 ↓
28 Portugal 69.4 ↓
29 Poland 68.9 ↓
30 Slovenia 68.8 ↑
31 Israel 67.4 ↑
32 Latvia 66.7 ↑
33 Qatar 64.9 →
34 Chile 64.7 ↑
35 Malta 64.6 ↓
36 Oman 64.5 ↑
37 Bahrain 64.4 ↑
38 Italy 63.7 →
39 Slovakia 62.8 ↓
40 Romania 62.7 →
41 Hungary 62.7 ↓
42 Croatia 62.7 ↓
43 Saudi Arabia 62.4 ↑
44 Georgia 62.2 ↑
45 Cyprus 61.9 →
46 Bulgaria 61.7 ↑
47 Brunei Darussalam 61.1 →
48 Thailand 60.2 ↑
49 Azerbaijan 59.1 ↑
50 Kazakhstan 58.7 ↑
51 Belarus 58.0 ↑
52 Greece 58.0 →
53 Serbia 57.6 ↑
54 Jordan 57.2 ↓
54 Montenegro 57.2 →
56 Costa Rica 56.6 ↑
57 Russia 56.5 ↑
58 Mainland China 56.3 →
59 North Macedonia 55.9 ↓
60 Turkey 55.8 ↑
61 Panama 55.4 ↑
62 Armenia 55.2 →
63 Uruguay 55.0 ↑
64 Indonesia 54.1 ↑
65 Morocco 53.8 ↑
66 Kuwait 53.5 ↓
67 South Africa 53.5 ↑
68 Mexico 53.0 ↑
69 Vietnam 52.2 ↓
70 India 52.1 ↑
71 Mongolia 51.6 →
72 Albania 50.9 →
73 Colombia 50.9 ↑
74 Botswana 50.7 →
75 Namibia 49.8 ↑
76 Jamaica 49.7 ↑
77 Brazil 49.3 ↑
78 Peru 49.2 →
79 Bhutan 49.1 ↓
80 Argentina 49.1 ↑
81 Rwanda 48.8 ↓
82 Moldova 48.7 ↑
83 Ukraine 48.3 ↑
84 Bosnia and Herzeg. 47.6 ↑
85 Dominican Republic 47.2 ↑
86 Tunisia 47.0 ↓
87 Philippines 46.6 ↑
88 Ecuador 46.5 ↑
89 Ghana 45.9 ↓
90 Egypt 45.2 →
91 Lebanon 44.0 →
92 Kenya 43.9 ↑
94 Kyrgyzstan 43.6 ↑
95 El Salvador 43.4 ↑
96 Uzbekistan 43.2 ↑
97 Suriname 42.9 →
98 Iran 42.9 →
99 Belize 42.5 ↓
100 Cambodia 41.4 ↓
101 Guatemala 40.8 ↑
102 Paraguay 40.2 →
103 Zambia 39.9 →
104 Pakistan 39.8 ↑
105 Nicaragua 39.7 ↑
106 Honduras 39.7 ↑
107 Cuba 39.7 ↓
108 Algeria 39.1 ↓
109 Nigeria 38.8 ↑
110 Bangladesh 38.3 →
111 Gambia 38.1 →
112 Ivory Coast 37.9 →
113 Turkmenistan 37.6 →
114 Senegal 37.6 ↑
115 Guyana 37.5 →
116 Bolivia 37.3 ↑
117 Uganda 36.8 ↑
118 Laos 36.7 ↓
119 Nepal 36.4 ↓
120 Tanzania 36.3 ↓
121 Malawi 35.5 →
122 Djibouti 34.3 ↓
123 Ethiopia 33.6 ↓
124 Mozambique 33.0 ↓
125 Angola 32.8 ↑
126 Zimbabwe 32.7 →
127 Burkina Faso 32.5 ↓
128 North Korea 31.3 ↓
129 Gabon 31.1 ↓
130 Myanmar 30.9 ↓
131 Venezuela 29.4 ↑
132 Timor-Leste 29.4 ↓
133 Libya 28.9 →
134 Cameroon 28.8 ↓
135 Sierra Leone 28.5 →
136 Syria 27.8 ↑
137 Mali 27.6 ↓
138 Republic of the Congo 27.6 ↓
139 Iraq 27.4 ↓
140 Equatorial Guinea 26.6 ↓
141 Sudan 26.0 →
142 Niger 25.8 →
143 Haiti 25.4 ↑
144 Afghanistan 24.5 ↑
145 Congo (Dem. Rep.) 24.4 ↓
146 Somalia 22.6 ↓
147 Yemen 22.4 ↓
148 Chad 19.8 →
149 South Sudan 18.7 ↓

47
Operational risk index1 worldwide and in
Comparison: regional comparison
With an index score of 70.0, the operational risk in
Malaysia is relatively low
In 2019, Malaysia ranks #25 in the Fitch operational index score out of the selected 149 countries covered by the Statista Country Reports.
It comes #2 when compared to the other 11 countries in the region Southeast Asia.
▪
▪
0-25 26-50 51-75 76-100

49
Population projection1 in thousand
Population (1/4)
1: The medium fertility variant assumes that total fertility will eventually converge toward a level of 1.85 children per woman
Source: UN DESA 2019, Statista 2020
Population projected to reach 38.8 million by 2040
30.685
31.950
33.181
34.350
35.429
36.412
37.295 38.073 38.755
2031
2016 2019 2022 2034
2028
2025 2037 2040
+26.3%

50
Population distribution in 2019
Population (2/4)
60.9% of the population were between the age of 20
and 64, more than half of them were men
80+
75-79
70-74
65-69
60-64
55-59
50-54
45-49
40-44
35-39
30-34
25-29
20-24
15-19
10-14
5-9
0-4
1.8%
2.2%
0.6%
2.9%
0.6%
2.6%
1.0%
1.4%
4.4%
3.0%
3.9%
4.4%
4.4%
4.1%
3.8%
3.8%
4.0%
4.7%
3.0%
0.5%
2.6%
1.9%
0.5%
0.9%
4.2%
2.3%
1.4%
3.3%
4.3%
4.7%
4.4%
4.6%
4.0%
4.0%
Age group
Male Female
31.5%
Σ 29.4%
Σ
Reading support: 3.0% of the population is female and between the age of 40 and 44.

51
Population growth, total population, and real GDP per capita in US$1 in Southeast Asia in 2019
Population (3/4)
Population increased by 1.3%, which is above regional
average, to a total of 31.9 million in 2019
0,0
0,5
1,0
1,5
2,0
20 40
0 60 80 100 280
Myanmar
Indonesia
Thailand
Brunei Darussalam
Cambodia
Southeast Asia
Laos
Malaysia Philippines
Singapore
Timor-Leste
Vietnam
Regional average Real GDP per capita: US$10,000
Population growth 2018-2019 in %
Total population in 2019 in million
1: Constant US$, see glossary for definition of current and constant

52
Total population in millions in 2019
Population (4/4)
Source: UN DESA 2019
Malaysia had the 45th highest population in 2019
1 China 1,441.2 →
2 India 1,366.4 ↑
3 United States 329.1 →
6 Brazil 211.0 →
7 Nigeria 201.0 ↑
8 Bangladesh 163.0 ↑
9 Russia 145.9 →
10 Mexico 127.6 ↑
11 Japan 126.9 ↓
14 Egypt 100.4 ↑
15 Vietnam 96.5 →
16 Congo (Dem. Rep.) 86.7 ↑
17 Germany 83.5 →
18 Turkey 83.4 ↑
19 Iran 82.9 ↑
20 Thailand 69.6 →
21 United Kingdom 67.5 →
22 France 65.1 →
23 Italy 60.6 ↓
25 Tanzania 58.0 ↑
26 Myanmar 54.0 →
27 Kenya 52.6 ↑
28 South Korea 51.2 →
30 Spain 46.7 →
31 Argentina 44.8 →
32 Uganda 44.3 ↑
33 Ukraine 44.0 ↓
34 Algeria 43.1 ↑
35 Sudan 42.8 ↑
36 Iraq 39.3 ↑
37 Poland 37.9 ↓
38 Canada 37.4 →
40 Morocco 36.5 ↑
41 Saudi Arabia 34.3 ↑
42 Uzbekistan 33.0 ↑
43 Venezuela 32.8 ↑
44 Peru 32.5 ↑
46 Angola 31.8 ↑
47 Ghana 30.4 ↑
48 Mozambique 30.4 ↑
49 Yemen 29.6 ↑
50 Nepal 28.6 ↑
52 Cameroon 25.9 ↑
53 North Korea 25.7 →
54 Ivory Coast 25.7 ↑
55 Australia 25.2 ↑
56 Niger 23.3 ↑
57 Sri Lanka 21.3 →
59 Mali 19.7 ↑
60 Romania 19.4 ↓
61 Chile 19.0 ↑
62 Malawi 18.6 ↑
64 Syria 18.5 ↑
65 Zambia 17.9 ↑
67 Ecuador 17.4 ↑
68 Netherlands 17.1 →
69 Cambodia 16.5 ↑
70 Senegal 16.3 ↑
71 Chad 15.9 ↑
72 Somalia 15.6 ↑
73 Zimbabwe 14.6 ↑
74 South Sudan 13.3 ↑
75 Guinea 12.8 ↑
76 Rwanda 12.6 ↑
77 Benin 11.8 ↑
78 Tunisia 11.7 ↑
79 Belgium 11.5 →
80 Burundi 11.5 ↑
81 Bolivia 11.5 ↑
82 Cuba 11.3 ↓
83 Haiti 11.3 ↑
85 Czechia 10.7 →
86 Greece 10.5 ↓
88 Jordan 10.1 ↑
89 Azerbaijan 10.0 →
90 Sweden 10.0 →
92 Honduras 9.7 ↑
93 Hungary 9.7 ↓
94 Belarus 9.5 ↓
96 Austria 9.0 →
97 Papua New Guinea 8.8 ↑
98 Switzerland 8.6 →
99 Israel 8.5 ↑
100 Togo 8.1 ↑
102 Laos 7.2 ↑
103 Paraguay 7.0 ↑
104 Bulgaria 7.0 ↓
105 Serbia 7.0 ↓
106 Lebanon 6.9 ↓
107 Libya 6.6 ↑
109 El Salvador 6.5 →
111 Turkmenistan 5.9 ↑
112 Singapore 5.8 →
113 Denmark 5.8 →
114 Finland 5.5 →
115 Slovakia 5.5 →
116 Rep. of the Congo 5.4 ↑
117 Norway 5.4 →
118 Costa Rica 5.0 →
119 Oman 5.0 ↑
120 Ireland 4.9 ↑
121 New Zealand 4.8 →
122 Panama 4.2 ↑
123 Kuwait 4.2 ↑
124 Croatia 4.1 ↓
125 Moldova 4.0 ↓
126 Georgia 4.0 ↓
127 Uruguay 3.5 →
128 Bosnia and Herzeg. 3.3 ↓
129 Mongolia 3.2 ↑
130 Armenia 3.0 →
131 Jamaica 2.9 →
132 Albania 2.9 ↓
133 Qatar 2.8 ↑
134 Lithuania 2.8 ↓
135 Namibia 2.5 ↑
136 Gambia 2.3 ↑
137 Botswana 2.3 ↑
138 Gabon 2.2 ↑
139 Lesotho 2.1 →
140 North Macedonia 2.1 →
141 Slovenia 2.1 →
142 Latvia 1.9 ↓
143 Bahrain 1.6 ↑
144 Equatorial Guinea 1.4 ↑
145 Estonia 1.3 →
146 Timor-Leste 1.3 ↑
147 Mauritius 1.3 →
148 Cyprus 1.2 →
149 Djibouti 1.0 ↑
150 Fiji 0.9 →
151 Guyana 0.8 →
152 Bhutan 0.8 ↑
153 Montenegro 0.6 →
154 Luxembourg 0.6 ↑
155 Suriname 0.6 →
156 Malta 0.4 →
157 Brunei Darussalam 0.4 ↑
158 Belize 0.4 ↑
159 Iceland 0.3 →
160 Seychelles 0.1 →

53
Distribution of income
Income (1/2)
In 2019, the highest 20% held 46.4% of the income,
while the lowest 20% only held 6.3%
2017 2023
2020 2021
2019
2016 2024
2018 2022
10.6%
21.5%
10.8%
46.2%
6.0%
10.3%
15.3%
14.9%
6.1%
21.6%
47.2% 46.4%
15.1%
10.5%
14.9%
21.5%
21.6% 21.5%
46.9%
6.2%
15.0%
21.5%
46.6%
6.3%
21.5%
10.7%
6.4%
10.7%
15.2%
6.4%
15.4%
11.0%
10.9%
45.9%
15.2%
46.1%
6.5%
10.9%
21.5%
15.3%
45.7%
6.6%
21.4%
45.6%
6.5%
Highest 20%
Lowest 20% Third 20%
Fourth 20% Second 20%
Statista forecast based on World Bank
Source: World Bank 2020, Statista 2020

54
Disposable income1 growth, disp. income per capita in US$2, and population in
Income (2/2)
1: Gross national disposable income may be derived from gross national income by adding all current transfers in cash or in kind, receivable by
resident institutional units from non-resident units, and subtracting all current transfers in cash or in kind payable by resident institutional units
to non-resident units 2: Current US$, see glossary for definition of current and constant
Source: Source: UN SD 2020, UN DESA 2019, Statista 2020
Income per capita at US$9,716.4 was lower than
regional average
-2
-1
0
1
2
3
4
5
6
7
8
9
10
11
0 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 45.000 50.000 55.000
Singapore
Philippines
Southeast Asia
Myanmar
Brunei Darussalam
Malaysia
Thailand
Timor-Leste
Regional average Population: 25 million
Disposable income growth 2016-2017 in %
Disposable income per capita in US$

55
Human Development Index
Source: United Nations Development Programme 2019
In global comparison, Malaysia has a very high level of
human development
▪ With an index of 0.804, Malaysia ranks
#61 out of 189 countries and
territories.
▪ The Human Development Index was
created to emphasize that people and
their capabilities should be the ultimate
criteria for assessing the development
of a country, not economic growth
alone.
▪ The index is a summary measure of
average achievement in key dimensions
of human development: a long and
healthy life, being knowledgeable, and
having a decent standard of living.
Human Development Index in 2019
0.377-0.549 0.560-0.693 0.700-0.799 0.801-0.954

57
Development stages of retail markets
Retail structure (1/4)
Note: The allocation of the development stages is based on the described method and criteria
1: See glossary for definitions
The retail market in Malaysia is well-developed
▪ Global grocery chains are not present
▪ National store ownership characterized by
handcart or independent stores
▪ Traditional1 payment methods are
primarily used
Opening Maturing Well-developed
▪ Global grocery chains start operations in large
cities1
▪ Store ownership is characterized by
independent stores, national or international
chains
▪ Traditional and electronic payment methods1
are commonly used
▪ Global chains operate in large cities, medium-
sized cities and rural areas1
▪ Store ownership is characterized by independent
stores and national or international chains
▪ Traditional, electronic and mobile payment
methods1 are commonly used

International grocery chains Store location
medium-sized and large cities1
rural area, medium-sized and
large cities1
rural area, medium-sized and
large cities1
58
Presence of international grocery chains
1: See glossary for definitions
Note: Grocery chains are sorted by number of operated stores internationally, information based on Statista Fact Check
Source: World List Mania 2018, Statista 2019
In Malaysia, global grocery chains are represented in
rural areas as well as in medium-sized and large cities


International grocery chains Store location






59
1: See glossary for definitions 2: Jaya Grocer
Note: Information based on Statista Fact Check
Characteristics of the grocery market in Malaysia
XXX Existence of grocery store types1
XXXX Store ownership
XXXX Payment methods
Hypermarkets Convenience Discounter Handcart
International chains National chains Independent stores2
Cash Cheques Debit card Credit card Smartphone Other
 

  
 


 


60
Note: Information based on Statista Fact Check
The grocery structure in Malaysia is characterized by hypermarkets, convenience stores, discounters and handcarts.
In Malaysia, people tend to buy their products on the weekend due to work and family obligations during weekdays.
On the one hand, since many Malaysians like to compare prices and hypermarkets often offer cheaper prices, many people tend to buy their products
at larger wholesale or hypermarkets. On the other hand, especially younger people like to buy groceries at nearby supermarkets since these offer a
certain level of convenience.
Insights into a national typic grocery structure
Insights into the grocery structure and shopping
behavior in Malaysia

61
Consumer spending1 in 2019
Consumer behavior: spending
Consumers in Malaysia spend the most in the area of
"Food, non-alcoholic beverages"
1: Average consumer spending per capita of private households 2: Furnishings, household equipment and routine maintenance of the house
3: Miscellaneous goods and services (according to the Classification of Individual Consumption Purposes) 4: Current US$, see glossary for
definition of current and constant 5: CAGR
Source: Statista Consumer Market Outlook, July 2020 (forecast adjusted for expected impact of COVID-19)
10.6%
Housing,
water
electricity
12.6%
Clothing,
footwear
Alcohol,
tobacco
House
maintenance2
4.9%
Other3
Food, non-
alcoholic
beverages
Education
Communication Healthcare Recreation,
culture
10.2%
Restaurants,
hotels
Transport
1.8% 2.3% 2.4% 2.8%
5.2%
6.4%
3.9%
6.1%
3.3%
9.3%
19.1%
32.6%
3.6%
12.1%
4.1% 3.6%
15.1% 17.1%
3.2%
7.8%
Southeast Asia
Malaysia
Consumer spending1 in US$4
5.188,6 5.679,8 6.127,8 6.574,3 5.944,2
7.566,6
8.344,2 9.105,4
2016 2023
2018
2017 2024
2019 2020 2022
+7.3%5

62
Interest in product and service categories1
Consumer behavior: product interest
1: "Which of these products and services are you interested in?“; Multi Pick; n=
Consumers in Malaysia are mostly interested in
clothing
36%
Cars Shoes Books,
movies,
music and
games
47%
Cosmetics
and body
care
43%
Consumer
electronics
Food and
drinks
Clothing Drugstore
and health
products
Sports and
outdoor
products
Furniture
and
household
goods
48%
Travels
62%
71%
75%
72%
45%
35%
31%
2,100

63
Brand awareness1
Consumer behavior: brands
1: Brand awareness by category; "In which of these categories do you pay particular attention to brands?"; Multi pick; n=
Consumers in Malaysia value smartphone brands the
most
Household
appliances
18%
Vehicles
22%
Smartphones Clothing TV and HiFi
16%
36%
Cosmetics
and
bodycare
21%
Food
and non-
alcoholic
drinks
Alcoholic
drinks
14%
Bags and
accessories
Detergents
and
cleaning
products
Furniture Toys and
baby
products
33%
77%
72%
50% 50%
34%
56%
25%
48%
30%
18%
11%
8%
27%
50%
30%
9%
14%
Male Female
2,100

64
Digital expenditures1 as share of consumer spending per capita in 2019
Consumer behavior: digital expenditures
Highlights
1: Including all revenues generated within the eCommerce, eTravel, eServices, and digital media markets
Source: Statista Consumer Market Outlook 2020, Statista Digital Market Outlook 2020
With US$3,249.9m and a share of 51.9%, eCommerce
generated the highest digital revenues in 2019
▪ In Asia, digital expenditures as a share of
consumer spending per capita reached 3.1%
in 2019
▪ In Malaysia, the revenue in the eCommerce
market amounted to US$3,249.9m in 2019
▪ The eServices market generated revenues of
US$249.1m in 2019
▪ In the eTravel market, 2019 revenues totaled
US$2,341.8
▪ Revenue in the digital media market
amounted to US$422.0 in 2019
Total digital revenues1 in this country and breakdown in 2019
3.0%
Europe Americas
Asia
Malaysia Africa Australia
& Oceania
3.1%
1.4%
3.4%
2.0%
2.7%
51,9%
6,7%
37,4%
4.0%
eCommerce
eTravel
Digital media
eServices
US$6,262.9m

65
eCommerce revenue growth, ARPU1 in US$, and user penetration2
eCommerce: overview
1: ARPU = average revenue per user 2: Share of active paying customers from the total population
Source: Statista Digital Market Outlook 2020
Compared to its region, user penetration is above
average
eCommerce revenue growth 2018-2019 in % Regional averages
in Southeast Asia and regions in 2019
eCommerce revenue growth 2018-2019 in % Regional averages
Mature
Emerging
Delayed
User penetration in %
Saturated
0
10
20
30
40
50
60
70
0 5 10 15 20 25 30 35 40 45 50 55 60 65 70
Central Africa
Australia & Oceania
Caribbean
Indonesia
Southern Africa
Central & Western Europe
East Africa
Central America
Central Asia
East Asia
Eastern Europe
Thailand
North Africa
Southeast Asia
Northern Europe
West Africa
Laos
Brunei Darussalam
South America
West Asia
North America
Philippines
Cambodia
Myanmar
Malaysia
World
Southern Europe
Timor-Leste South Asia
Vietnam
Singapore
ARPU: US$250

66
eCommerce revenues in million US$
eCommerce: revenue projection
Products mostly bought online2
1: CAGR: Compound Annual Growth Rate / average growth rate per year 2: Top 5 product categories purchased primarily online; "Which of these
products do you mostly buy or order online?";
Source: Statista Digital Market Outlook 2020 (forecast adjusted for expected impact of COVID-19), Statista Global Consumer Survey, as of
eCommerce revenues are expected to have a positive
annual average growth of 19.9% by 2024
Consumer
electronics
28%
Bags &
accessories
Clothing Shoes Household
appliances
45%
46%
60%
31%
38% 38%
21%
24% 25%
Male Female
641,8
1.433,8
427,9
1.107,1
724,2
869,0
2.150,1
986,7
2.643,8
3,249.9
2019 2024
8,058.9
324.5
+19.9%
Toys, hobby & DIY
Furniture & appliances
Food & personal care
Fashion
Electronics & media
Multi Pick; n=2,100
April 2020

67
FinTech transaction value in million US$
FinTech: transaction projection
1: CAGR: Compound Annual Growth Rate / average growth rate per year
Source: Statista Digital Market Outlook 2020 (forecast adjusted for expected impact of COVID-19)
The total FinTech transaction value is forecast to grow
by 15.2% from 2019 to 2024
▪ The transaction value in the
FinTech market amounted to
US$11,222.4m in 2019
▪ The transaction value is expected
to show an annual growth of
15.2%, resulting in a volume of
US$22,817.6m by 2024
▪ The largest segment is the "Digital
payments" segment with a volume
of US$9,896.4m in 2019
▪ User penetration in "Digital
payments" was 36.5% in 2019 and
is expected to hit 50.6% by 2024
9.896,4
19.383,5
1.299,7
3.395,0
23,7
2019 2024
13.6 12.6 15.4
Digital payments
Personal finance
Alternative lending
Alternative financing
Highlights
Segment CAGR1
14.4%
21.2%
2.5%
13.4%

69
Internet penetration1 in 2019
Digital infrastructure (1/2)
Mobile phone subscriptions2
per 100 inhabitants in 2019
Fixed broadband subscriptions3
per 100 inhabitants in 2019
1: Share of individuals who have used the Internet (from any location) in the last 3 months 2: Subscriptions to a public mobile telephone service
that provide access to the PSTN using cellular technology 3: Fixed subscriptions to high-speed access to the public internet at downstream
speeds equal to or greater than 256 kbit/s
Source: ITU 2019, Statista 2020
90.8% used the internet and there were 135.7 mobile
cellular subscriptions per 100 people
81.8%
Singapore
Southeast Asia
Malaysia
64.3%
90.8%
135,7 133,3
184,5
Malaysia Southeast Asia Thailand
8,6
7,8
28,3

70
Internet penetration1 in % in 2019
Digital infrastructure (2/2)
Malaysia had the 11th highest internet penetration in
the world in 2019
Note: Not all countries covered by the Statista Country Reports are considered for the comparison
Source: ITU 2019, Statista 2020
# Country Value
1 United Arab Emirates 93.9
2 South Korea 93.7
3 Norway 93.5
4 Luxembourg 92.9
5 Iceland 92.7
6 Netherlands 92.6
7 Qatar 92.5
8 Japan 91.5
9 Bolivia 91.5
10 Kuwait 91.4
11 Malaysia 90.8
12 United Kingdom 90.5
13 New Zealand 89.1
14 Sweden 89.0
15 Brunei Darussalam 88.6
16 Switzerland 87.9
17 Bahrain 87.8
18 Denmark 87.5
19 Canada 87.1
20 Germany 85.9
21 United States 85.4
22 Finland 85.3
23 Saudi Arabia 84.1
24 Austria 83.4
25 Chile 82.2
26 Singapore 81.8
27 Kazakhstan 81.3
28 Iraq 81.3
29 Belgium 80.9
30 Estonia 80.9
# Country Value
31 Spain 80.8
32 Czechia 80.3
33 Albania 79.7
34 Australia 79.5
35 Moldova 79.4
36 Oman 79.1
37 Latvia 78.8
38 Cyprus 78.8
39 Ireland 78.2
40 Malta 78.1
41 Slovakia 78.1
42 Armenia 77.9
43 Slovenia 76.7
44 Azerbaijan 76.7
45 France 76.6
46 Lithuania 76.4
47 Israel 76.1
48 Hungary 75.8
49 North Macedonia 75.7
50 Poland 75.2
51 Croatia 75.0
52 Russia 74.5
53 Bosnia and Herzegovina 73.4
54 Lebanon 73.1
55 Portugal 72.4
56 Thailand 72.3
57 Serbia 72.1
58 Greece 71.9
59 Uruguay 71.4
60 Vietnam 71.0
# Country Value
61 Philippines 70.6
62 Argentina 70.4
63 Italy 69.7
64 Belarus 69.3
65 Morocco 68.9
66 Indonesia 68.3
67 Costa Rica 67.9
68 Colombia 67.9
69 Iran 67.8
70 Dominican Republic 67.7
71 Tunisia 67.5
72 Turkey 67.3
73 Romania 67.2
74 Montenegro 66.5
75 Seychelles 65.9
76 Guatemala 65.3
77 Brazil 64.8
78 Georgia 64.1
79 Bulgaria 63.9
80 Jordan 63.8
81 Gabon 63.1
82 Cuba 62.9
83 Ukraine 62.9
84 Panama 62.0
85 Mainland China 61.7
86 Ecuador 61.3
87 Paraguay 60.9
88 Mexico 60.4
89 Mauritius 59.8
90 Fiji 58.8
# Country Value
91 Namibia 58.0
92 Uzbekistan 57.7
93 Bhutan 56.4
94 South Africa 54.7
95 Jamaica 54.6
96 Algeria 54.4
97 Peru 54.1
98 Botswana 53.6
99 Suriname 52.9
100 Ivory Coast 52.2
101 Mongolia 51.8
102 Senegal 51.5
103 Belize 51.3
104 Myanmar 51.1
105 Ghana 48.3
106 Egypt 47.8
107 Kyrgyzstan 46.8
108 India 46.6
109 Cambodia 43.7
110 Honduras 42.4
111 Nigeria 41.8
112 Nepal 41.3
113 Zambia 40.7
114 El Salvador 40.2
115 Nicaragua 39.9
116 Guyana 39.5
117 Laos 37.5
118 Zimbabwe 36.6
119 Uganda 35.8
120 Haiti 35.5
# Country Value
121 Sri Lanka 35.4
122 Rwanda 34.1
123 Turkmenistan 32.2
124 Timor-Leste 32.0
125 Cameroon 31.8
126 Lesotho 31.5
127 Equatorial Guinea 30.8
128 Bangladesh 30.5
129 Kenya 30.5
130 Tanzania 29.4
131 Sudan 27.6
132 Ethiopia 27.5
133 Angola 25.9
134 Benin 24.4
135 Tajikistan 24.0
136 Gambia 22.8
137 Malawi 22.1
138 Togo 20.5
139 Guinea 20.4
140 Sierra Leone 20.4
141 Mozambique 19.1
142 Burkina Faso 18.2
143 Pakistan 17.2
144 Papua New Guinea 16.5
145 Niger 13.8
146 Madagascar 13.0
147 Chad 11.3
148 Republic of the Congo 10.3
149 Burundi 8.7

71
Quality of trade- and transport-related infrastructure1
Transport infrastructure
Freight transportation2
1: Logistics Performance Index (5 = high, 1 = low); logistics professionals' perception of a country's quality of trade- and transport-related
infrastructure (e.g., ports, railroads, roads, information technology). Scores are averaged across all respondents 2: Ton-kilometer = cargo weight
transported times distance transported, TEU = Twenty-foot equivalent unit (standard-size container) 3: Container port traffic
Quality of trade- and transport-related infrastructure
was higher than the regional average
3,6
3,4
3,2
3,1
3,0 3,0
2016
2014 2018
Southeast Asia
Malaysia
25.0 million TEU in 2018
1,404.4 million ton-km in 2018
1,349.0 million ton-km in 2016
3

73
Territorial CO2 emissions1 in million metric tonnes in 2018 and variation since 2017
CO2 emissions (1/2)
Note: Countries not included in the Statista Country Reports are omitted in this table
1: Territorial CO2 emissions are carbon dioxide emissions referring to the country in which they physically occur
Source: Global Carbon Atlas 2019, Gilfillan et al. 2019, UNFCCC 2019, BP 2019
Malaysia had the 25th highest CO2 emissions in 2018
1 China 10,107.8 ↑
2 United States 5,416.3 ↑
3 India 2,654.1 ↑
4 Russia 1,710.7 ↑
5 Japan 1,162.0 ↓
6 Germany 759.0 ↓
7 Iran 720.4 ↑
8 South Korea 658.8 ↑
9 Saudi Arabia 621.3 ↓
11 Canada 568.4 ↓
12 Mexico 477.3 ↓
14 Brazil 457.2 ↓
15 Turkey 428.2 ↑
16 Australia 420.2 ↑
17 United Kingdom 379.0 ↓
18 Poland 343.5 ↑
19 Italy 338.0 ↓
20 France 337.9 ↓
22 Thailand 288.2 ↑
24 Spain 268.2 ↓
26 Egypt 238.8 ↑
27 Ukraine 225.0 ↑
29 Vietnam 206.7 ↑
31 Iraq 204.2 ↑
32 Argentina 195.5 ↓
33 Netherlands 161.6 ↓
34 Algeria 155.7 ↑
35 Venezuela 138.8 ↓
37 Nigeria 127.3 ↑
38 Czechia 105.9 ↑
39 Qatar 105.6 ↓
40 Belgium 99.7 ↑
41 Kuwait 98.1 ↑
43 Uzbekistan 91.3 ↓
44 Chile 85.9 ↑
45 Bangladesh 85.7 ↑
46 Turkmenistan 79.9 ↑
47 Romania 74.1 ↓
48 Greece 73.9 ↓
49 Austria 68.9 ↓
50 Oman 67.3 ↑
51 Morocco 66.3 ↑
52 Belarus 65.5 ↑
53 Israel 64.3 ↓
54 Peru 55.5 ↑
55 Libya 54.0 ↑
57 Hungary 49.9 ↑
58 Finland 47.0 ↑
59 Serbia 45.4 ↓
60 Bulgaria 44.5 ↓
61 Norway 44.3 ↑
64 Ecuador 41.9 ↑
65 Sweden 41.0 ↓
66 Singapore 40.9 ↑
67 Ireland 38.9 ↑
68 Switzerland 36.9 ↓
69 Azerbaijan 36.8 ↑
70 Slovakia 36.0 →
71 Denmark 34.8 →
72 New Zealand 34.8 ↓
73 Angola 34.5 ↑
74 Tunisia 31.6 ↑
75 Bahrain 31.1 ↓
76 North Korea 30.2 ↑
77 Cuba 28.6 ↑
78 Syria 28.3 ↓
79 Mongolia 28.1 ↑
80 Myanmar 26.3 ↑
82 Lebanon 24.2 ↑
83 Jordan 24.1 ↓
84 Sri Lanka 23.4 ↓
85 Bolivia 22.3 ↑
86 Bosnia and Herzeg. 21.7 ↓
87 Sudan 21.0 ↑
88 Estonia 19.6 ↑
89 Laos 19.3 ↑
90 Croatia 18.6 ↓
91 Kenya 18.5 ↑
93 Ghana 18.3 ↑
95 Slovenia 14.4 ↑
96 Lithuania 13.6 ↑
97 Tanzania 12.5 ↑
98 Zimbabwe 12.3 ↑
99 Senegal 11.7 ↑
100 Panama 10.9 ↑
101 Georgia 10.6 ↓
102 Cambodia 10.4 ↑
103 Yemen 10.1 ↑
105 Honduras 9.9 ↑
106 Luxembourg 9.6 ↑
107 Nepal 9.4 ↑
110 Ivory Coast 8.4 ↑
111 Mozambique 8.3 ↑
112 Jamaica 8.2 ↑
113 Cameroon 8.1 ↑
114 Costa Rica 8.1 ↑
115 Brunei Darussalam 7.9 ↑
116 Papua New Guinea 7.8 ↑
117 Cyprus 7.5 ↓
118 Paraguay 7.4 ↑
119 North Macedonia 7.3 ↓
120 Latvia 7.2 ↓
121 Benin 7.1 ↑
122 El Salvador 7.1 ↑
123 Uruguay 6.9 ↑
124 Botswana 6.7 ↓
125 Uganda 5.8 ↑
127 Equatorial Guinea 5.7 ↓
129 Armenia 5.6 ↑
132 Gabon 5.4 ↑
133 Zambia 5.2 ↑
134 Moldova 5.1 ↑
135 Mauritius 4.9 ↑
136 Albania 4.6 ↓
138 Namibia 4.3 ↑
140 Iceland 3.6 ↑
141 Mali 3.6 ↑
142 Togo 3.4 ↑
143 Rep. of the Congo 3.2 ↑
145 Guinea 3.2 ↑
146 Haiti 3.0 ↑
148 Lesotho 2.7 ↓
149 Guyana 2.4 ↑
150 Niger 2.3 ↑
151 Fiji 2.1 ↑
153 Congo (Dem. Rep.) 2.0 ↑
154 Montenegro 2.0 ↓
155 South Sudan 1.9 ↑
157 Suriname 1.8 ↑
158 Malta 1.6 ↓
161 Malawi 1.4 ↑
163 Bhutan 1.2 ↑
165 Rwanda 1.1 ↑
167 Chad 1.0 ↑
170 Somalia 0.7 ↑
171 Seychelles 0.7 ↑
172 Djibouti 0.6 ↑
176 Gambia 0.6 ↑
177 Belize 0.6 ↑
179 Timor-Leste 0.5 ↑
180 Burundi 0.5 ↑

74
Real GDP per capita in US$1, CO2 emissions in tonnes per capita and population in Southeast Asia in 2018
CO2 emissions (2/2)
1: Constant US$, see glossary for definition of current and constant US$
Source: Global Carbon Atlas 2019, Gilfillan et al. 2019, UNFCCC 2019, BP 2019, United Nations 2020, IMF 2020, Statista 2020
In regional comparison, the GDP per capita was lower,
but the emissions per capita higher
20,000
6,000
0
2,000 4,000
8
8,000 12,000
19
16,000 18,000 22,000
1
26,000 28,000 62,000
14,000 24,000
10,000
2
7
4
5
0
6
18
3
Cambodia
Indonesia
Brunei Darussalam
Myanmar
Malaysia
Philippines
Singapore
Thailand
Laos
Vietnam
Southeast Asia
Timor-Leste
Regional average
CO2 emissions per capita in tonnes
Real GDP per capita in US$ in 2018
Population: 10 million

75
Mean exposure to PM2.5 in micrograms per cubic metre1 in 2017
Particulate exposure
1: PM2.5 stands for "particulate matter" of size "less than 2.5 microns in diameter." The concentration of PM2.5 in the air is measured in
micrograms per cubic meter or µg/m³
Source: OECD 2018
In a 2017 global comparison, Malaysia had a rather
low exposure to particulates
36-95 µg/m³ 22-35 µg/m³ 14-21 µg/m³ 0-13 µg/m³
▪ The PM2.5 exposure in Malaysia for the
average population is 16.0. The country
ranks #119 in a comparison of 175
countries covered by the source.
▪ PM2.5 are fine liquid or solid particles,
such as dust or smog, which are found
in the air.
▪ "2.5" refers to its size which is <2.5
microns in diameter. As a comparison,
human hair is 50-70 microns in
diameter.
▪ PM2.5 is the air pollutant that poses the
greatest risk to health according to the
World Health Organization.

76
Energy shares in Malaysia in 2018
Energy shares
Energy shares in Asia in 2018
Note: Regional average value refers to the countries covered by the Statista Country Reports and the source
1: Renewable energies include hydropower, solar, wind, and other renewable sources 2: CAGR: Compound Annual Growth Rate / average
growth rate per year
Source: BP 2019, Statista 2020
Compared to the average of the continent, Malaysia
has a higher share in renewables
37,1%
21,3%
35,7%
5,8%
0.0%
Av. growth in
renewables
2012-2018 CAGR2
14.2%
Growth in
renewables
2012-2018 CAGR2
15.6%
Oil Coal Gas Renewables
Nuclear
39,7%
17,8%
36,7%
5,0%
0.8%

78
General information
Political profile
Source: CIA 2020, Freedom House 2019, International Foundation for Electoral Systems 2020
Malaysia is a federal parliamentary constitutional
monarchy
▪ Government type: federal parliamentary constitutional monarchy
▪ Freedom House score in 2019: 4 (1 = most free and 7 = least free)
▪ Chief of State: King Sultan ABDULLAH Sultan Ahmad Shah (since
January 24, 2019)
▪ Head of Government: Prime Minister Tan Sri MUHYIDDIN
Yassin (since March 1, 2020)
Most recent election results:
Malaysian House of Representatives, 2018
▪ The King is elected by hereditary state rulers.
▪ Prime Minister is designated by parliament.
▪ In the Senate (Dewan Negara), 44 members are appointed by the
monarch to serve 3-year terms and 26 members are elected by the
state legislatures to serve 3-year terms. In the House of
Representatives (Dewan Rakyat) 222 members are elected by direct
popular vote to serve 5-year terms.

79
Percentile rankings in rule of law in 2018
Political environment: rule of law
Rule of Law in Malaysia is high
0%-20% 21%-40% 41%-60% 61%-80% 81%-100%
▪ With regard to the rule of law, Malaysia ranked #54 in a
comparison of 209 countries and territories covered by
the World Bank Worldwide Governance Indicators in
2018.
▪ Percentile rank indicates the country's rank among all
countries covered by the aggregate indicator, with 0
indicating the lowest rank and 100 to the highest.
▪ Rule of law refers to the influence and authority of law
within society, particularly in terms of its efficacy as a
deterrent against negative behaviors, including those
exhibited by government officials.
▪ This indicator presents information about the level of
confidence that the population of a specific country
places in its legal authorities and law enforcement
system as well as information about the probability of
crime and violence to occur in that country.
▪ The rule of law also measures factors such as the time
and cost for resolving a commercial dispute.

80
Efficiency of corruption control1,2 in 2018
Political environment: corruption control
1: Perceptions of the extent to which public power is exercised for private gain, including both petty and grand forms of corruption, as well as
"capture" of the state by elites and private interests 2: Ranked from strong (2.5) to weak (-2.5)
Control of corruption is rated as medium
# Country Estimate
1 Finland 2.2
2 New Zealand 2.2
3 Singapore 2.2
4 Denmark 2.1
5 Sweden 2.1
6 Norway 2.1
7 Luxembourg 2.1
8 Switzerland 2.0
9 Netherlands 2.0
10 Germany 1.9
11 Canada 1.9
12 Iceland 1.8
14 Australia 1.8
15 Bhutan 1.6
16 Austria 1.6
17 Ireland 1.5
18 Belgium 1.5
19 Estonia 1.5
20 Japan 1.4
22 France 1.3
23 Uruguay 1.3
25 Chile 1.0
26 Slovenia 0.9
27 Portugal 0.8
28 Brunei Darussalam 0.8
29 Israel 0.8
30 Botswana 0.8
31 Qatar 0.7
32 Georgia 0.7
# Country Estimate
33 Seychelles 0.7
34 Poland 0.6
35 Cyprus 0.6
36 Spain 0.6
37 South Korea 0.6
38 Malta 0.6
39 Rwanda 0.6
40 Costa Rica 0.6
41 Czechia 0.5
42 Lithuania 0.5
43 Fiji 0.4
44 Slovakia 0.4
45 Saudi Arabia 0.4
46 Namibia 0.3
47 Latvia 0.3
48 Malaysia 0.3
49 Mauritius 0.3
50 Oman 0.2
51 Italy 0.2
52 Cuba 0.2
53 Jordan 0.1
54 Croatia 0.1
55 Hungary 0.1
56 Montenegro 0.0
57 South Africa 0.0
58 Senegal 0.0
59 Tunisia -0.1
60 Greece -0.1
61 Argentina -0.1
62 Lesotho -0.1
63 Burkina Faso -0.1
64 Ghana -0.1
# Country Estimate
65 Romania -0.1
66 Belize -0.1
67 Bahrain -0.1
68 Bulgaria -0.2
69 Jamaica -0.2
70 India -0.2
71 Belarus -0.2
72 Suriname -0.2
73 Morocco -0.2
74 Guyana -0.2
75 Indonesia -0.3
76 Mainland China -0.3
77 Kuwait -0.3
78 Colombia -0.3
79 Turkey -0.3
80 Sri Lanka -0.3
81 Armenia -0.3
82 North Macedonia -0.4
83 Serbia -0.4
84 Benin -0.4
85 Thailand -0.4
86 Brazil -0.4
87 Mongolia -0.4
88 Tanzania -0.4
89 Gambia -0.5
90 Timor-Leste -0.5
91 Vietnam -0.5
92 Ethiopia -0.5
93 Sierra Leone -0.5
94 Ivory Coast -0.5
95 Kazakhstan -0.5
96 Albania -0.5
# Country Estimate
97 Peru -0.5
98 Philippines -0.5
99 Ecuador -0.6
100 Panama -0.6
101 Bosnia and Herzegovina -0.6
102 Niger -0.6
103 Egypt -0.6
104 Myanmar -0.6
105 El Salvador -0.6
106 Honduras -0.6
107 Bolivia -0.6
108 Algeria -0.6
109 Zambia -0.7
110 Nepal -0.7
111 Mali -0.7
112 Djibouti -0.7
113 Moldova -0.7
114 Togo -0.7
115 Malawi -0.7
116 Dominican Republic -0.7
117 Mozambique -0.7
118 Pakistan -0.8
119 Guatemala -0.8
120 Azerbaijan -0.8
121 Russia -0.8
122 Paraguay -0.8
123 Gabon -0.9
124 Kenya -0.9
125 Mexico -0.9
126 Ukraine -0.9
127 Papua New Guinea -0.9
128 Bangladesh -0.9
# Country Estimate
129 Kyrgyzstan -1.0
130 Iran -1.0
131 Laos -1.0
132 Madagascar -1.0
133 Uganda -1.0
134 Guinea -1.0
135 Nigeria -1.0
136 Nicaragua -1.1
137 Uzbekistan -1.1
138 Lebanon -1.1
139 Angola -1.1
140 Cameroon -1.1
141 Zimbabwe -1.2
142 Haiti -1.3
143 Cambodia -1.3
144 Turkmenistan -1.4
145 Republic of the Congo -1.4
146 Iraq -1.4
147 Chad -1.4
148 Tajikistan -1.4
149 Sudan -1.4
150 Burundi -1.5
151 Venezuela -1.5
152 Afghanistan -1.5
153 Congo (Dem. Rep.) -1.5
154 Libya -1.6
155 Equatorial Guinea -1.6
156 North Korea -1.6
157 Syria -1.6
158 Yemen -1.6
159 South Sudan -1.7
160 Somalia -1.8

81
Percentile rankings in regulatory quality in Asia in 2018
Political environment: regulatory quality
Regulatory quality in Malaysia is on a high level
0%-20% 21%-40% 41%-60% 61%-80% 81%-100%
▪ In 2018, Malaysia ranked #55 in regulatory quality out
of 209 countries and territories covered by the
Worldwide Governance Indicators.
▪ It placed #8 when compared to the 42 other countries
in its region, Asia.
▪ Percentile rank indicates the country's rank among all
countries covered by the aggregate indicator, with 0
corresponding to the lowest rank and 100 to the
highest rank.
▪ Regulations are defined as the principles that govern
the everyday life of a country. Regulatory quality refers
to the ability of the government to create and
implement policies as well as procedures that support
economic growth and social welfare.

82
Governance against political instability and threat of violence/terrorism1,2 in 2018
Political environment: governance
1: Measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism 2: Ranked from strong
(1.5) to weak (-3).
Moderate risks of violence and/or terrorism due to
political instability
# Country Estimate
1 New Zealand 1.5
2 Singapore 1.5
3 Iceland 1.4
4 Luxembourg 1.4
5 Switzerland 1.3
6 Malta 1.3
7 Brunai Darussalam 1.2
8 Norway 1.2
9 Portugal 1.1
10 Bhutan 1.1
11 Japan 1.1
12 Uruguay 1.0
13 Czechia 1.0
14 Ireland 1.0
15 Canada 1.0
16 Botswana 1.0
17 Australia 1.0
18 Denmark 1.0
19 Finland 0.9
20 Austria 0.9
21 Sweden 0.9
22 Slovenia 0.9
23 Mauritius 0.9
24 Netherlands 0.9
25 Mongolia 0.8
26 Croatia 0.8
27 Hungary 0.8
28 Lithuania 0.8
29 Slovakia 0.8
31 Fiji 0.7
32 Seychelles 0.7
# Country Estimate
33 Qatar 0.7
34 Oman 0.7
35 Namibia 0.7
36 Cuba 0.7
37 Germany 0.6
38 Estonia 0.6
39 Poland 0.5
40 South Korea 0.5
41 Cyprus 0.5
42 Jamaica 0.5
43 Costa Rica 0.5
45 Chile 0.4
46 Latvia 0.4
47 Bulgaria 0.4
48 Laos 0.4
49 Belgium 0.4
50 Albania 0.4
51 Belarus 0.4
52 Italy 0.3
53 Timor-Leste 0.3
54 Panama 0.3
55 Spain 0.3
56 Malaysia 0.2
57 Vietnam 0.2
58 Zambia 0.1
59 Rwanda 0.1
60 Kuwait 0.1
61 France 0.1
62 Cambodia 0.1
63 Montenegro 0.1
64 Greece 0.1
# Country Estimate
65 Serbia 0.1
66 Suriname 0.1
67 Romania 0.1
69 Dominican Republic 0.0
70 Ghana 0.0
71 Argentina 0.0
72 Belize 0.0
73 Kazakhstan 0.0
74 Turkmenistan 0.0
75 Gambia 0.0
76 Sierra Leone 0.0
77 Equatorial Guinea -0.1
78 Ecuador -0.1
79 Senegal -0.1
80 Paraguay -0.1
81 Benin -0.1
82 Djibouti -0.1
83 Guyana -0.2
84 Sri Lanka -0.2
85 North Macedonia -0.2
86 Lesotho -0.2
87 Bolivia -0.2
88 Gabon -0.2
89 Peru -0.3
90 Mainland China -0.3
91 South Africa -0.3
92 Uzbekistan -0.3
93 Angola -0.3
94 Malawi -0.3
95 Morocco -0.3
96 El Salvador -0.3
# Country Estimate
97 Moldova -0.3
98 North Korea -0.4
99 Brazil -0.4
100 Jordan -0.4
101 Bosnia and Herzegovina -0.4
102 Armenia -0.4
103 Georgia -0.4
104 Republic of the Congo -0.4
105 Russia -0.5
106 Saudi Arabia -0.5
107 Madagascar -0.5
108 Indonesia -0.5
109 Guatemala -0.5
110 Honduras -0.6
111 Tanzania -0.6
112 Mexico -0.6
113 Kyrgyzstan -0.6
114 Nepal -0.6
115 Haiti -0.6
116 Papua New Guinea -0.7
117 Uganda -0.7
118 Azerbaijan -0.7
119 Zimbabwe -0.7
120 Tajikistan -0.7
121 Thailand -0.7
122 Mozambique -0.8
123 Algeria -0.8
124 Nicaragua -0.8
125 Colombia -0.8
126 Bahrain -0.8
127 Guinea -0.9
128 Tunisia -0.9
# Country Estimate
129 Ivory Coast -0.9
130 Israel -0.9
131 India -1.0
132 Togo -1.0
133 Bangladesh -1.0
134 Burkina Faso -1.0
135 Philippines -1.1
136 Kenya -1.2
137 Egypt -1.2
138 Niger -1.3
139 Iran -1.3
140 Myanmar -1.3
141 Turkey -1.3
142 Ethiopia -1.3
143 Venezuela -1.3
144 Cameroon -1.4
145 Chad -1.5
146 Burundi -1.6
147 Lebanon -1.6
148 Ukraine -1.8
149 Sudan -1.8
150 Mali -2.1
151 Congo (Dem. Rep.) -2.1
152 Nigeria -2.2
153 Somalia -2.2
154 Pakistan -2.3
155 South Sudan -2.4
156 Libya -2.4
157 Iraq -2.6
158 Syria -2.7
159 Afghanistan -2.7
160 Yemen -3.0

84
Data sources
The Statista Country Reports present quantitative data from various private and public sources of information. These sources include the International
Monetary Fund, the World Bank, the United Nations, the OECD, the World Economic Forum, the International Labour Organization, the CIA World
Factbook, the Freedom House, the International Foundation for Electoral Systems, and Statista itself. The data sources are indicated in footnotes
throughout the report.
Real GDP calculation
A country's real GDP is an inflation-adjusted GDP assessment reflecting its net growth. It can be used to compare economy sizes across countries. The
data in this report is presented in U.S. dollars and maintains the growth rates of the real GDP series. The data is expressed in the base year of each
country‘s national accounts, and the year is specified for each country. For more information, please refer to the FAQ section of the World Economic
Outlook Database.
Difference between current and constant US$
Data reported in current US$ reflects the value that the currency has in a specific year. The current data series is influenced by the effect of price
inflation and differences in exchange rates, and the comparability of growth rates between countries is limited.
Data expressed in constant US$ reflects the value of a currency in a specified base year. The individual base year listed in a country’s national accounts
differs from country to country. Constant series are used to measure the true growth of a series by adjusting for the effects of price inflation.
Data description and methods (1/2)
Methodology and data used in this report

85
Business culture data
Data related to country-specific business cultures was collected between January 5 and February 19, 2019. In order to obtain reliable insights into
business cultures for each country, only individuals with business experience in their respective countries were included in the survey.
The survey sample consisted of 381 participants and a total of 127 countries. Due to the small sample size, the information presented in this report
gives the reader a subjective, approximate impression of the business culture in a country and cannot always be generalized.
Statista Fact Check
The Statista Fact Check of international retail structures was carried out between January 5 and February 19, 2019. In order to collect information about
the national retail characteristics, only people living in the country of interest were asked to participate in the Fact Check.
The Statista Fact Check included 254 participants and covered 127 countries worldwide. The information presented by the Statista Fact Check gives the
reader an impression of the retail and eCommerce structures within the country and cannot always be generalized.
Determination of retail market development stages
The development stages of retail markets were identified based on the specific features of each individual retail market. In cases in which only two out
of three features qualified a country for a certain development stage, the country was placed in the transition zone or at the beginning of the higher
development stage. For instance, in Egypt, international chains operate in rural areas as well as medium-sized and large cities, and the grocery market is
characterized by international, national, and independent store ownership (all indicators for a well-developed retail market). But since payment options
do not yet incorporate smartphones and only include traditional and electronic methods (indicator for a maturing market), Egypt was assigned an early
well-developed retail market stage.
Data description and methods (2/2)
Methodology and data used in this report

86
The Statista Global Consumer Survey offers a global perspective
on consumption and media usage, covering the offline and online
world of the consumer. It is designed to help marketers, planners,
and product managers understand consumer behavior and
consumer interactions with brands.
▪ Cross-tabulation
▪ Customized target groups
▪ Trend and country comparisons
▪ Export in Excel (CSV) or PowerPoint format
Find out more on www.statista.com/customercloud/global-consumer-survey
50+
topics & industries
55
countries
6,500+
int. brands
700,000+
interviews
About the Statista Global Consumer Survey 2020
Finance & insurance
Marketing &
social media
eCommerce &
retail
Internet & devices
Media & digital media
Mobility
Health
Housing & household
equipment
Travel
Services & eServices
Characteristics &
demographics
Food & nutrition
.

The answers to these and many more questions can be found in the Statista
Digital Market Outlook. It provides forecasts, detailed market insights, and key
indicators for the digital economy.
What is the size of the eCommerce fashion market in Spain?
How much is spent on social media advertising in India?
The Digital Market Outlook presents up-to-date figures on markets of the
digital economy. The comparable key figures are based on extensive analyses
of relevant indicators from the areas of society, economy, and technology.
Direct access & downloads, fully integrated into the Statista database
Market insights, forecasts, and key performance indicators
Outlook reports with segment-specific topics (top companies, trends,
deep dives)
Seven digital verticals: eCommerce, Smart Home, Digital Media,
eServices, FinTech, Digital Advertising, eHealth
80+
markets
8
years (2017–2024)
30,000+
interactive statistics
About the Statista Digital Market Outlook
Find out more on www.statista.com/outlook/digital-markets
150+
locations
.

88
The Statista Toplists show essential KPIs and include contact details and
address information for each company.
The Toplists are the perfect way to start researching leads in your sales
department and to get quick insights into new markets, and they can serve
as a starting point for further market assessment.
Coverage of most Statista industries
With the most important company figures
Available for the most important regions
About the Statista Toplists
Find information on top companies worldwide
Find out more on www.statista.com/toplists
.

89
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fields of market intelligence. Building upon our experience as one of the
world's leading statistics portals, our analyst team can support you in the
collection and evaluation of market, client, and competitive information –
tailored to your individual needs. Our team consists of former top-tier
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Authors
Maike Schlumbohm Volker Staffa Maike Zeppernick Joline Franken
Maike Schlumbohm studied
Business in Göttingen, Kiel,
Alicante, and Brisbane.
Before joining Statista, she spent
several years working for a
global chemical company,
focusing on the fields of internal
consulting and market research,
and as a research fellow and
lecturer in Six Sigma at the
Leuphana University of
Luneburg.
Volker Staffa studied Business
with a focus on Logistics and
Supply Chain Management in
Hamburg and Rhode Island. He
has been writing and drafting
Industry Reports for Statista
since 2012.
Before working as an analyst at
Statista, Volker gathered
experience in the aviation
industry, working for the
German Air Traffic Control and
Lufthansa Technik.
Maike Zeppernick studied
Economics, Business, and
Mathematics in Nebraska and
Hamburg.
Before joining Statista, she
worked for a car rental company
where she conducted forecasts
in the area of revenue and
capacity management. She also
has academic experience in the
subject of health economics.
Joline Franken studied Social
Economics, which incorporated
business studies, law,
economics, and sociology, in
Hamburg. She earned her
advanced degree in Economic
and Sociological Studies with a
concentration on labor,
economy, and society.
She joined the ecommerceDB
department at Statista in 2017
and is now part of the
operations team at Strategic
Market Insights.
Head of Country & Industry Reports
m.schlumbohm@statista.com
Senior Analyst
v.staffa@statista.com
Junior Analyst
m.zeppernick@statista.com
Junior Analyst
j.franken@statista.com

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