Southeast Asia – July 2018
Why Southeast Asia?
Like the rest of Southeast Asia, Indonesia, Malaysia, and the Philippines are experiencing rapidly growing economies, increasing middle class populations, and continuing urbanization – all factors contributing to favorable conditions for U.S. export expansion.
Indonesia is the most populous country in Southeast Asia and U.S. agricultural exports there have grown 88 percent over the past decade. The country ranked ninth among U.S. markets in 2017, with sales of U.S. farm and food products totaling nearly $2.9 billion, led by soybeans, cotton, wheat, feeds and fodder, and dairy products.
Malaysia has one of the most developed and affluent economies in Southeast Asia and U.S. agricultural exports to the country have grown 64 percent over the past decade. The United States exported more than $924 million in farm and food products to Malaysia last year, with consumer-oriented products comprising nearly 44 percent of that total. Top U.S. exports included soybeans, dairy, prepared foods, cotton, and fresh and processed fruits and vegetables.
U.S. agricultural exports to the Philippines have grown 133 percent over the past decade. The United States is the country’s largest supplier of agricultural products, with a 22-percent market share. The Philippines was the 10th-largest U.S. agricultural export customer last year, with sales of nearly $2.6 billion. Top U.S. exports included soybean meal, wheat, dairy, pork, and soybeans, while exports of prepared foods reached a record $91 million.
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