Sarawak registers trade surplus of RM88 bln in 2022

Sarawak recorded a trade surplus of RM88.2 billion in 2022.

By Lian Cheng

KUCHING, May 24: Sarawak has registered a trade surplus of RM88.2 billion in 2022, a 67.3 per cent increase compare to 2021.

This is disclosed by International Trade, Industry and Investment Minister Datuk Amar Awang Tengah Ali Hasan when delivering ministerial winding-up speech at Sarawak Legislative Assembly (DUN) held at new DUN Complex here today.

“Sarawak’s total trade in 2022 increased 43.9 per cent to RM217.2 billion from RM150.9 billion in 2021, resulting in an increase of 67.3 per cent of our trade surplus to RM88.2 billion in 2022 from 52.7 billion in 2021.

“Total exports increase 50 per cent to RM152.7 billion in 2022 from RM101.8 billion in 2021 from items such as LNG (liquified natural gas), palm oil, crude oil, and aluminium.  

“Meanwhile, total imports increased 31.4 per cent to 64.5 billion from RM49.1 billion in 2021 for the top import products such as chemical products, refined petroleum products, aluminium ores, motorcars and fertilisers,” said Awang Tengah.

Awang Tengah delivering his ministerial winding up speech at the new DUN Complex on May 24, 2023. Photo credit: Ukas

The top trading partners for Sarawak in 2022, he said, were Japan, China, Peninsular Malaysia, South Korea, India, Australia, and Singapore.  

Awang Tengah who is also Bukit Sari assembly said the establishment of InvestSarawak (a one-stop agency for all investments and trades in Sarawak) and Sarawak Trade and Tourism Offices in Singapore (Statos) and soon in Brunei and Kalimantan, Indonesia will further assist our SMEs (small-medium enterprises) to explore and expand their markets beyond Sarawak’s shores.

He urged business communities, especially export oriented SMEs, to leverage on Malaysia’s membership in Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-pacific Partnership (CPTPP) to optimise their costs so that their products can be more competitive in regional and global markets. — DayakDaily