ASEAN countries now major markets for US exports
It’s not often we hear stories about US exports TO Asia, but here’s one: Malaysia, Indonesia, Singapore and Philippines have seen large increases in demand for US goods and services. The US Commerce Department now defines Malaysia in particular as a ‘major export market’, meaning it now receives a monthly average of US$500 million in American goods, an increase of 47.3% in the first seven months of 2010. Also defined as major export markets are Indonesia (^44.6%), Singapore (^40.1%) and Philippines (^36.6%). China’s US imports also rose 36.2%, though it ranked much lower on the list in total value. India, despite its large size, did not rate a mention.
US exports to Malaysia cover all categories from electronics and machinery to agricultural products and raw materials. A full list of items and their values from 2005-09 is here.
source & article: Bernama
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