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The United States and Malaysia engage closely on trade and investment issues, including under our 2004 Trade and Investment Framework Agreement.
In 2018, Malaysia GDP was an estimated $354.3 billion (current market exchange rates); real GDP was up by an estimated 4.7%; and the population was 32 million. (Source: IMF)
U.S. goods and services trade with Malaysia totaled an estimated $55.7 billion in 2017 (latest data available). Exports were $16.5 billion; imports were $39.2 billion. The U.S. goods and services trade deficit with Malaysia was $22.7 billion in 2017.
Malaysia is currently our 18th largest goods trading partner with $52.2 billion in total (two way) goods trade during 2018. Goods exports totaled $12.9 billion; goods imports totaled $39.4 billion. The U.S. goods trade deficit with Malaysia was $26.5 billion in 2018.
Trade in services with Malaysia (exports and imports) totaled an estimated $5.3 billion in 2017 (latest data available). Services exports were $3.5 billion; services imports were $1.8 billion. The U.S. services trade surplus with Malaysia was $1.8 billion in 2017 (latest data available).
According to the Department of Commerce, U.S. exports of Goods and Services to Malaysia supported an estimated 73 thousand jobs in 2015 (latest data available) (54 thousand supported by goods exports and 18 thousand supported by services exports).
- Malaysia was the United States' 25th largest goods export market in 2018.
- U.S. goods exports to Malaysia in 2018 were $12.9 billion, down 0.8% ($100 million) from 2017 and down 0.7% from 2008.
- The top export categories (2-digit HS) in 2018 were: electrical machinery ($5.0 billion), machinery ($1.3 billion), aircraft ($1.1 billion), optical and medical instruments ($847 million), and plastics ($572 million).
- U.S. total exports of agricultural products to Malaysia totaled $1.0 billion in 2018. Leading domestic export categories include: soybeans ($233 million), cotton ($105 million), dairy products ($101 million), prepared food ($94 million), and processed vegetables ($56 million).
- U.S. exports of services to Malaysia were an estimated $3.5 billion in 2017 (latest data available), 16.8% ($509 million) more than 2016, and 140% greater than 2007 levels. Leading services exports from the U.S. to Malaysia were in the maintenance and repair services, travel, and intellectual property (industrial processes, computer software) sectors.
- Malaysia was the United States' 15th largest supplier of goods imports in 2018.
- U.S. goods imports from Malaysia totaled $39.4 billion in 2018, up 5.3% ($2.0 billion) from 2017, and up 28.1% from 2008. U.S. imports from Malaysia account for 1.5% of overall U.S. imports in 2018.
- The top import categories (2-digit HS) in 2018 were: electrical machinery ($25 billion), machinery ($4.0 billion), optical and medical instruments ($2.4 billion), rubber ($1.8 billion), and furniture and bedding ($928 million).
- U.S. total imports of agricultural products from Malaysia totaled $998 million in 2018. Leading categories include: tropical oils ($516 million), cocoa paste & cocoa butter ($116 million), feeds & fodders ($59 million), other vegetable oils ($38 million), and rubber & allied products ($36 million).
- U.S. imports of services from Malaysia were an estimated $1.8 billion in 2017 (latest data available), 10.2% ($200 million) less than 2016, but 63.0% greater than 2007 levels. Leading services imports from Malaysia to the U.S. were in the travel, transport, and maintenance and repair services sectors.
- The U.S. goods trade deficit with Malaysia was $26.5 billion in 2018, a 8.5% increase ($2.1 billion) over 2017.
- The United States has a services trade surplus of an estimated $1.8 billion with Malaysia in 2017, up 66.7% from 2016.
- U.S. foreign direct investment (FDI) in Malaysia (stock) was $15.1 billion in 2017 (latest data available), a 3.2% increase from 2016. U.S. direct investment in Malaysia is led by manufacturing, nonbank holding companies, and finance and insurance.
- Malaysia's FDI in the United States (stock) was $1.1 billion in 2017 (latest data available), down 2.9% from 2016. There is no information on the distribution of FDI in the U.S.
- Sales of services in Malaysia by majority U.S.-owned affiliates were $7.0 billion in 2016 (latest data available), while sales of services in the United States by majority Malaysia-owned firms were $510 million.