a federal country practicing constitutional monarchy and parliamentary democracy

Malaysia has more than 40 registered political parties. Barisan Nasional (BN), a coalition consisting of parties including UMNO, MCA and MIC, held power for a long time. After the 2018 general election, Pakatan Harapan (PH), formed by Parti Keadilan Rakyat, Democratic Action Party, Parti Amanah Negara and Parti Pribumi Bersatu Malaysia, replaced Barisan Nasional to form the government. In March 2020, Perikatan Nasional, made up of Parti Pribumi Bersatu Malaysia, PAS and other parties, allied with UMNO and ousted Pakatan Harapan to take over governance. Following the general election in November 2022, Pakatan Harapan (comprising Parti Keadilan Rakyat, Democratic Action Party and Parti Amanah Negara) formed a unity government with Barisan Nasional and major political parties from East Malaysia to come into power.

In 2024, Malaysia’s gross domestic product (GDP) at constant 2015 prices stood at 1.6482 trillion Malaysian Ringgit (approximately 360.6 billion US dollars converted based on the annual exchange rate published by Bank of China), representing a year-on-year growth of 5.1%

In 2024, Malaysia’s total foreign trade volume reached USD 629 billion, an increase of 8.8%. Exports amounted to USD 329.5 billion, rising by 5.4%, while imports hit USD 299.5 billion, up 12.8%. The country has maintained a trade surplus for 27 consecutive years since 1998.

Malaysia’s inland water transport is underdeveloped, with 95% of its trade handled by sea. Its major international ports include Port Klang, Penang Port, Johor Port, Tanjung Pelepas Port, Kuantan Port, Kemaman Port and Bintulu Port.。