Trade Summary

MALAYSIA

TRADE SUMMARY The U.S. goods trade deficit with Malaysia was $11.6 billion in 2011, down $267 million from 2010. U.S. goods exports in 2011 were $14.2 billion, up 1.0 percent from the previous year. Corresponding U.S. imports from Malaysia were $25.8 billion, down 0.5 percent. Malaysia is currently the 23rd largest export market for U.S. goods. U.S. exports of private commercial services (i.e., excluding military and government) to Malaysia were $2.1 billion in 2010 (latest data available), and U.S. imports were $1.2 billion. Sales of services in Malaysia by majority U.S.-owned affiliates were $4.3 billion in 2009 (latest data available), while sales of services in the United States by majority Malaysia-owned firms were $294 million. The stock of U.S. foreign direct investment (FDI) in Malaysia was $16.0 billion in 2010 (latest data available), up from $13.2 billion in 2009. U.S. FDI in Malaysia is led by the manufacturing and banking sectors. In December 2009, the United States announced its intention to enter into an Asia-Pacific trade agreement called the Trans-Pacific Partnership (TPP), with the objective of shaping a high standard, broad-based regional agreement. This agreement will create a potential platform for economic integration across the Asia-Pacific region, a means to advance U.S. economic interests with the fastest-growing economies in the world, and a tool to expand U.S. exports, which are critical to U.S. economic recovery and the creation and retention of high-paying, high-quality jobs in the United States. In addition to Malaysia, the TPP negotiating partners currently include Australia, Brunei, Chile, New Zealand, Peru, Singapore, and Vietnam. Japan, Canada, and Mexico also have expressed interest in joining the negotiations. IMPORT POLICIES Tariffs and Import Licensing Requirements Almost all of Malaysia‟s tariffs are imposed on an ad valorem basis, with a simple average applied tariff rate of 7.4 percent. Duties for tariff lines...