In October 2010, Malaysia joined the ongoing Trans-Pacific Partnership (TPP) negotiations. In this negotiation, the United States is seeking to develop a high-standard, 21st-century regional trade agreement that will support the creation and retention of jobs in the United States and promote economic growth. In addition to the United States and Malaysia, the TPP negotiating partners include Australia, Brunei, Canada, Chile, Mexico, New Zealand, Peru, and Singapore, and Vietnam. Starting with a group of like-minded countries, the goal is to expand the agreement to include countries across the Asia Pacific, which together represent more than half of global output and over 40 percent of world trade.
In addition to working together on TPP, the United States and Malaysia meet frequently to discuss bilateral trade and investment issues and to coordinate approaches on APEC, ASEAN, and the WTO.
U.S.-Malaysia Trade Facts
U.S. goods and services trade with Malaysia totaled $43 billion in 2010 (latest data available). Exports totaled $16 billion; imports totaled $27 billion. The U.S. goods and services trade deficit with Malaysia was $11 billion in 2010.
Malaysia is currently our 24th largest goods trading partner with $38.8 billion in total (two ways) goods trade during 2012. Goods exports totaled $12.8 billion; goods imports totaled $25.9 billion. The U.S. goods trade deficit with Malaysia was $13.1 billion in 2012.
Trade in services with Malaysia (exports and imports) totaled $4 billion in 2011 (latest data available). Exports were $2.6 billion; imports were $1.4 billion. The U.S. services trade surplus with Malaysia was $1.2 billion in 2011.
Malaysia was the United States’ 25th largest goods export market in 2012
U.S. goods exports to Malaysia in 2012 were $12.8 billion, down 9.9% ($1.4 billion) from 2011, but up 17% from 2000. U.S. exports to Malaysia account for 1% of overall U.S. exports in 2012.
The top export categories (2-digit HS) in 2012 were: Electrical Machinery ($5.8 billion), Machinery ($1.4 billion), Aircraft ($1.2 billion), Optic and Medical Instruments ($744 million), and Iron and Steel ($364 million).
U.S. exports of agricultural products to Malaysia totaled $880 million in 2012. Leading categories include: soybeans ($176 million), dairy products ($133 million), fruits ($116 million), and miscellaneous horticultural products ($97 million).
U.S. exports of private commercial services (i.e., excluding military and government) to Malaysia were $2.6 billion in 2011, 20.5% ($438 million ) more than 2010 and 136% greater than 2000 levels. The other private services (business, professional, and technical services) category accounted for most of U.S. exports in 2011.
Malaysia was the United States' 18th largest supplier of goods imports in 2012.
U.S. goods imports from Malaysia totaled $25.9 billion in 2012, a 0.6% decrease ($156 million) from 2011, but up 1.4% from 2000. U.S. imports from Malaysia account for 1.1% of overall U.S. imports in 2012.
The five largest import categories in 2012 were: Electrical Machinery ($13.3 billion), Machinery ($3.7 billion), Optic and Medical Instruments ($1.6 billion), and Rubber ($1.4 billion) and Fats and Oils (palm oil) ($1.4 billion).
U.S. imports of agricultural products from Malaysia totaled $1.9 billion in 2012, making Malaysia our 17th largest supplier of agriculture imports. Leading categories include: tropical oils ($1.3 billion), cocoa paste and cocoa butter ($148 million), and rubber products ($132 million).
U.S. imports of private commercial services (i.e., excluding military and government) were $1.4 billion in 2011, up 7.4% ($94 million) from 2010 and up 251% from 2000 levels. The other private services (business, professional and technical services) category accounted for most of U.S. services imports from Malaysia.
The U.S. goods trade deficit with Malaysia was $13.1 billion in 2012, a 13.5% increase ($1.5 billion) from 2011.
The United States had a services trade surplus of $1.2 billion with Malaysia in 2011, up 39.7% from 2010.
U.S. foreign direct investment (FDI) in Malaysia was $13.9 billion in 2011, a 15.6% increase from 2010.
Reported U.S. FDI in Malaysia is led by the manufacturing and mining sectors.
Malaysia’s FDI in the U.S. (stock) was $646 million in 2011, up 91.1% from 2010. Malaysia’s FDI in the United States is led by the wholesale trade and manufacturing sectors.
Sales of services in Malaysia by majority U.S.-owned affiliates were $6.8 billion in 2010 (latest data available), while sales of services in the United States by majority Malaysia-owned firms were $255 million in 2010.
NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures and other miscellaneous U.S. government services.