What is the value of US trade with Malaysia?
Updates published annually
$54.9 billion in imports and $31.5 billion in exports in 2024. That means that the US imported $23.4 billion more from Malaysia than we exported to it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$54.9B
Value of imports from Malaysia to the US (2024)
$31.5B
Value of exports from the US to Malaysia (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Malaysia as the US’ 20th top trading partner: In 2024, the US traded $86.4 billion in goods and services with Malaysia. Countries with similar trade values include Thailand ($88.4B) and Belgium ($74.7B).
In 2024, the US traded $86.4 billion in goods and services with Malaysia.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade deficit with Malaysia every year from 1999 through 2024. The 2024 deficit was $23.38 billion, a decrease from 2023's deficit of $25.5 billion.
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The trade deficit with Malaysia increased to $23.4B in 2024.
Annual trade balance with Malaysia, not adjusted for inflation
In 2024, 95.7% of imports from Malaysia to the US were goods. The largest category was capital goods (tools used for the production process, like machinery and equipment), accounting for $40 billion. The top three imports were capital goods, consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones), and industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic). These categories accounted for $48.7 billion of total imports.
The other 4.3% were services, with business services (like R&D, consulting, and tech services) being the largest service category. Business services accounted for $1.31 billion.
Capital goods made up 72.9% of US imports from Malaysia in 2024.
US imports from Malaysia by category (2024)
In 2024, more US exports to Malaysia were goods — 87.2%. The largest export was capital goods, which accounted for a value of $17.8 billion. The top three exports were capital goods, industrial supplies and materials, and food, feeds, and beverages. These categories accounted for $25.9 billion of exports to Malaysia.
The other 12.8% were services, with business services being the largest service category. Business services accounted for $1.13 billion.
Capital goods made up 56.5% of US exports to Malaysia in 2024.
US exports to Malaysia by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
