Malaysia — June 2021
Despite the challenges of the COVID-19 pandemic, Malaysia has a strong economic development record. Since independence in 1957, it has expanded manufacturing, services and tourism industries to complement the country’s competitive resource sector. It is a high middle-income, export-oriented economy. Relative to emerging and developing Asia, Malaysia has a stronger credit rating, higher per capita incomes and more conducive business environment, while GDP growth is in line with peers.