The United States and Malaysia engage closely on trade and investment issues, including under our 2004 Trade and Investment Framework Agreement.
In 2019, Malaysia GDP was an estimated $365.3 billion (current market exchange rates); real GDP was up by an estimated 4.3%; and the population was 33 million. (Source: IMF)
U.S. goods and services trade with Malaysia totaled an estimated $59.2 billion in 2019. Exports were $16.3 billion; imports were $42.9 billion. The U.S. goods and services trade deficit with Malaysia was $26.7 billion in 2019.
Malaysia is currently our 19th largest goods trading partner with $53.8 billion in total (two way) goods trade during 2019. Goods exports totaled $13.2 billion; goods imports totaled $40.6 billion. The U.S. goods trade deficit with Malaysia was $27.4 billion in 2019.
Trade in services with Malaysia (exports and imports) totaled an estimated $5.4 billion in 2019. Services exports were $3.1 billion; services imports were $2.4 billion. The U.S. services trade surplus with Malaysia was $706 million in 2019.
- Malaysia was the United States' 26th largest goods export market in 2019.
- U.S. goods exports to Malaysia in 2019 were $13.2 billion, up 1.8% ($240 million) from 2018 and up 26.8% from 2009.
- The top export categories (2-digit HS) in 2019 were: electrical machinery ($4.4 billion), machinery ($1.3 billion), aircraft ($1.1 billion), optical and medical instruments ($998 million), and plastics ($871 million).
- U.S. total exports of agricultural products to Malaysia totaled $1.2 billion in 2019. Leading domestic export categories include: soybeans ($238 million), wheat ($130 million), cotton ($118 million), prepared food ($117 million), and dairy products ($109 million).
- U.S. exports of services to Malaysia were an estimated $3.1 billion in 2019, 7.2% ($238 million) less than 2018, but 64.5% greater than 2009 levels. Leading services exports from the U.S. to Malaysia were in the travel, maintenance and repair services, and intellectual property (computer software, industrial processes) sectors.
- Malaysia was the United States' 15th largest supplier of goods imports in 2019.
- U.S. goods imports from Malaysia totaled $40.6 billion in 2019, up 3.1% ($1.2 billion) from 2018, and up 74.2% from 2009. U.S. imports from Malaysia account for 1.6% of overall U.S. imports in 2019.
- The top import categories (2-digit HS) in 2019 were: electrical machinery ($26 billion), machinery ($4.0 billion), optical and medical instruments ($2.5 billion), rubber ($1.9 billion), and furniture and bedding ($1.3 billion).
- U.S. total imports of agricultural products from Malaysia totaled $1.0 billion in 2019. Leading categories include: tropical oils ($441 million), cocoa paste & cocoa butter ($190 million), feeds & fodders ($57 million), rubber & allied products ($52 million), and snack foods ($37 million).
- U.S. imports of services from Malaysia were an estimated $2.4 billion in 2019, 32.4% ($578 million) more than 2018, and 122% greater than 2009 levels. Leading services imports from Malaysia to the U.S. were in the transport, travel, and technical and other services sectors.
The U.S. goods trade deficit with Malaysia was $27.4 billion in 2019, a 3.7% increase ($974 million) over 2018.
The United States had a services trade surplus of an estimated $706 million with Malaysia in 2019, down 53.6% from 2018.
- U.S. foreign direct investment (FDI) in Malaysia (stock) was $10.8 billion in 2019, a 0.2% decrease from 2018. There is no information on the distribution of U.S. FDI in Malaysia.
- Malaysia's FDI in the United States (stock) was $981 million in 2019, down 19.5% from 2018. There is no information on the distribution of Malaysia FDI in the U.S.
- Sales of services in Malaysia by majority U.S.-owned affiliates were $7.4 billion in 2017 (latest data available), while sales of services in the United States by majority Malaysia-owned firms were $544 million.