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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 $42 billion in 2012 (latest data available). Exports totaled $15 billion; Imports totaled $27 billion. The U.S. goods and services trade deficit with Malaysia was $12 billion in 2012.
Malaysia is currently our 20th largest goods trading partner with $40.3 billion in total (two ways) goods trade during 2013. Goods exports totaled $13.0 billion; Goods imports totaled $27.3 billion. The U.S. goods trade deficit with Malaysia was $14.3 billion in 2013.
Trade in services with Malaysia (exports and imports) totaled $3.9 billion in 2012 (latest data available). Exports were $2.5 billion; Services imports were $1.4 billion. The U.S. services trade surplus with Malaysia was $1.1 billion in 2012.
Malaysia was the United States’ 25th largest goods export market in 2013.
U.S. goods exports to Malaysia in 2013 were $13.0 billion, up 1.3% ($165 million) from 2012, and up 19% from 2003.
The top export categories (2-digit HS) in 2013 were: Electrical Machinery ($5.4 billion), Aircraft ($1.6 billion), Machinery ($1.4 billion), Optic and Medical Instruments ($765 million), and Plastic ($360 million).
U.S. exports of agricultural products to Malaysia totaled $1.0 billion in 2013. Leading categories include: dairy products ($181 million), soybeans ($153 million), prepared food ($110 million), and fresh fruit ($77 million).
U.S. exports of private commercial services* (i.e., excluding military and government) to Malaysia were $2.5 billion in 2012 (latest data available), 3.0% ($76 million) less than 2011 but 115% greater than 2002 levels. The other private services (business, professional, and technical services) category accounted for most of U.S. exports in 2012.
Malaysia was the United States' 17th largest supplier of goods imports in 2013.
U.S. goods imports from Malaysia totaled $27.3 billion in 2013, a 5.2% increase ($1.4 billion) from 2012, and up 7.3% from 2003. U.S. imports from Malaysia account for 1.2% of overall U.S. imports in 2013.
The five largest import categories in 2013 were: Electrical Machinery ($14.8 billion), Machinery ($4.0 billion), Optic and Medical Instruments ($1.7 billion), Rubber ($1.4 billion), and Fats and Oils (palm oil) ($1.1 billion).
U.S. imports of agricultural products from Malaysia totaled $1.6 billion in 2013, our 19th largest supplier of agriculture imports. Leading categories include: tropical oils ($1.1 billion), cocoa paste and cocoa butter ($131 million), and rubber products ($101 million).
U.S. imports of private commercial services* (i.e., excluding military and government) were $1.4 billion in 2012 (latest data available), up 9.9% ($123 million) from 2011 and up 177% from 2002 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 $14.3 billion in 2013, a 9.1% increase ($1.2 billion) over 2012.
The United States had a services trade surplus of $1.1 billion with Malaysia in 2012 (latest data available), down 15.4% from 2011.
U.S. foreign direct investment (FDI) in Malaysia was $15.0 billion in 2012 (latest data available), a 21.1% increase from 2011.
Reported U.S. FDI in Malaysia is led by the manufacturing and mining sectors.
Malaysia FDI in the U.S. (stock) was $662 million in 2012 (latest data available), down 24.1% from 2011.
Sales of services in Malaysia by majority U.S.-owned affiliates were $7.3 billion in 2011 (latest data available), while sales of services in the United States by majority Malaysia-owned firms were $243 million.
*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures and other miscellaneous U.S. government services.