MEMBER SPOTLIGHT
MEMBER SPOTLIGHT
MATRADE Links NJ Businesses to Malaysian Suppliers
International trade is a major driver of the economy of New Jersey . In 2023 , New Jersey was the 13th largest exporter and 6th largest importer in the United States with over US $ 200 billion in total trade , according to OEC data .
For New Jersey companies , maintaining a strong and reliable global supply chain is essential to their business ' s success . Over the years , rising costs , global logistics disruptions and change of sourcing has become an increasing challenge , forcing global sourcing and purchasing personnel on a constant search to diversify and strengthen their network of overseas suppliers .
For many U . S . companies , Malaysia has been a reliable trade source to address such challenges . Malaysia has a long track record as an excellent trading nation , the 24th largest trading nation in the world according to the latest WTO rankings ( 2022 ). U . S . companies rely on Malaysia ' s business friendly environment , compliance to international standards and diverse range of high-quality suppliers . In 2023 , Malaysia was the 16th largest source of imports for the U . S . with US $ 46.1 billion in value and its 19th largest trading partner with US $ 65.5 billion in total trade .*
U . S . companies rely on Malaysia as a major supplier for various products such as :
◾ Electrical and Electronic Products – Malaysia is a leading global exporter of
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E & E products , especially in semiconductors and chip production . It is the USA ’ s fifth largest source of E & E imports ( US $ 25.9 billion in 2023 *) and its biggest source of integrated circuits and micro assemblies . 6 out of 10 of the largest Electronic Manufacturing Services ( EMS ) companies have operations in Malaysia .* Malaysian EMS companies are able to produce high-mix & low-volume items and have strength in complex manufacturing .
◾ Wooden Furniture – Malaysian furniture is well-known for its high quality and durability , making it a top ten global supplier of wooden furniture .* Malaysia exported US $ 1.1 billion in furniture to the U . S . in 2023 *, making it the 7th largest source of imports .
◾ Disposable Medical Supplies – Malaysia is dominant in medical gloves and other disposable medical products . It is the main source of rubber gloves for the U . S ., with US $ 710 million exported in 2023 .*
◾ Halal Industry Ecosystem – Malaysia is the leading global halal hub to supply a burgeoning market . Its halal standard is widely used by several renowned global multinational companies including
Photo : MATRADE
Nyaee Ayup , Trade Commissioner , MATRADE New York
Nestlé , Colgate Palmolive and Unilever . Malaysia ’ s halal portfolio has also expanded beyond food and beverage , venturing into various other sectors such as cosmetics and pharmaceuticals .
◾ Malaysia is also becoming a new source of imports for other sectors such as electric vehicle components , ICT services ( creative contents ) and ingredients for cosmetics and pharmaceuticals .
The Malaysia External Trade Development Corporation ( MATRADE ) is the national trade promotion agency responsible for developing and promoting Malaysia ' s exports to the world . MATRADE ’ s New York office serves as the link to capable manufacturers in Malaysia for any product or service that a New Jersey business is looking for . MATRADE has been hosting buyers from New Jersey at many events in Malaysia , including The Malaysia International Halal Showcase ( MIHAS ), the world ’ s largest Halal trade show .
“ Malaysia takes pride in its reputation as a reliable trading source for companies throughout the United States and the world ,” said Ms . Nyaee Ayup , Trade Commissioner of MATRADE New York . “ MATRADE welcomes New Jersey importers looking to do business with Malaysia to reach out to our New York office for information and assistance . We are happy to help in any way we can .”
* Data according to MATRADE New York , sourced from a database program linked to the Department of Commerce
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