KUALA LUMPUR, May 11 — Despite slow global economic recovery, Malaysia, along with Indonesia, is expected to outshine other emerging markets on commodity exports, the to the latest forecast by BMI Research showed.

In a report released today, the research arm of global credit rating firm Fitch said Indonesia will be the standout performer among 10 countries examined, followed closely by Malaysia.

“Emerging market commodity exporters will benefit from rising commodity prices but the economic recovery will be slow,” BMI research said in a statement accompanying its report.

Malaysia's real Gross Domestic Product (GDP) growth over the next four years until 2020 is expected to average at 4.6 per cent a year, the report showed.

BMI Research said that lack of structural reform and weak investor sentiment could result in these countries having a negative growth average of -2.0 per cent a year.

It also said that currency depreciation to the US dollar for almost all the economies listed including Malaysia could aid economic recovery.

Malaysia’s top commodity exports includes petroleum, natural gas, crude oil, rubber and palm oil.

As of 2015, petroleum was the biggest export, making up seven per cent of Malaysia’s total exports at RM54.55 billion, and followed by natural gas and then palm oil.

The BMI Research report examined nine other countries: Indonesia, Brazil, Colombia, Kazakhstan, Nigeria, Russia, Saudi Arabia, South Africa and the UAE.

Indonesia, backed by strong investment and government spending is expected to average a growth of 5.9 per cent a year.

South Africa, Brazil and Russia are all projected to have weak growth.

In its latest outlook for Malaysia, Fitch ranked the country as stable with a A- score.