Malaysia’s level of economic development drives both consumer and business demand for products and services. Its consumers, though price sensitive, are accustomed to several decades of strong growth. Thus, they are attracted to and are familiar with international branded products, better education, quality healthcare products and services, as well as ecological lifestyle offerings.
The market's largest segment is the segment "Electronics & Media" with a market volume of US$425m in 2017.
Due to recent global events, such as the rising world geopolitical tension in the Korean Peninsula and the recently strained U.S.-China relations, the Malaysia marketplace has become more cautionary. However, Malaysia’s 2017 Gross Domestic Product is expected to be between 4.3-4.8 which signals a solid economic climate. While the value of the Malaysia Ringgit has depreciated against the U.S. dollar over the past three years; since the beginning of 2017 the Ringgit has started to appreciate and consumer sentiments and concerns are lessening.
Most exporters find that using a local distributor or agent is the best first step for entering the Malaysian market. A local distributor is typically responsible for handling customs clearance, dealing with established wholesalers/retailers, marketing the product directly to major corporations or the government, and handling after-sales service. Exporters of services generally also benefit from using of local partner.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.