By DayakDaily Team
KUCHING, July 5: Despite facing external uncertainties such as global market fluctuations and geopolitical tensions, Sarawak recorded a total trade of RM198.7 billion and a trade surplus of RM71.1 billion in 2024.
According to Bernama, the Department of Statistics Malaysia’s (DoSM) chief statistician, Datuk Seri Dr Mohd Uzir Mahidin, said this was due to higher commodity prices, particularly crude palm oil, supported by firm global demand.
In addition, major exports, including palm oil, liquefied natural gas (LNG), and crude petroleum, continued to remain strong, thereby driving trade growth.
“In 2024, Sarawak recorded RM198.7 billion, marking an increase of 2.7 per cent compared to 2023. The trade balance also grew by 4.2 per cent to RM71.1 billion.
“Both exports and imports showed an upward trend. Exports expanded by 3.1 per cent to RM134.9 billion while imports surged by 1.9 per cent to RM63.8 billion,” he said.
In terms of major export destinations in 2024, the top five spots went to Japan, China, South Korea, Peninsular Malaysia, and India, with Japan and China accounting for 35.1 per cent of the State’s total exports, valued at RM47.3 billion.
Exports to Japan reached RM29.1 billion, a 1.4 per cent increase year-on-year, with the main products exported being LNG, valued at RM25.4 billion, followed by wood products, valued at RM1.4 billion, and iron and steel products, at RM0.8 billion.
Meanwhile, exports to China were valued at RM18.2 billion, accounting for 13.5 per cent of Sarawak’s total exports, a decline of 1.7 per cent or RM0.3 billion compared to the previous year.
LNG remained the primary export product to China, amounting to RM13.5 billion, followed by manufactured metal products at RM1.1 billion, while palm oil and palm-based products amounted to RM0.9 billion. — DayakDaily
