Sarawak’s total trade up by 1.1 pct from Jan to Sept this year – Soon Koh

SARAWAK’S total trade expanded to RM102.6 billion in the first nine months of this year.

International Trade and ECommerce Minister Dato Sri Wong Soon Koh said this was an increase of 1.1 per cent over the RM101.5 billion recorded during the same period last year.

He pointed out that exports decreased by 2.9 per cent from RM71.7 billion to RM69.6 billion while imports grew at 10.9 per cent from RM29.8 billion to RM33 billion.

“Despite a decline in exports, Sarawak still maintains a large trade surplus of RM36.6 billion,” he said in his ministerial windingup speech at the State Legislative Assembly (DUN) yesterday.

He noted that export receipts from liquefied natural gas ( LNG) remain the biggest contributor at 39.6 per cent, followed by crude petroleum at 12.3 per cent and palm oil at 9.5 per cent.

“Our major export partners also remain the same, namely Japan at 25.8 per cent, Peninsular Malaysia (15.7 per cent) and China (11.3 per cent).

“These three markets contributed 52.8 per cent to the total export value.”

Rounding up the top 10 of Sarawak’s export partners are Republic of Korea at 7.3 per cent, Taiwan (7.2 per cent), India ( 6.9 per cent), Thailand (3.2 per cent), Indonesia (1.9 per cent), United States (1.8 per cent), and Vietnam (1.7 per cent).

On main import items, Wong said the state mainly imports machinery and transport equipment which constituted 32 per cent, followed by chemical products (15.3 per cent) and manufactured goods (13.7 per cent).

“The higher importation of machinery and transport equipment is for the construction of many major infrastructure development projects in the state.”