Sarawak achieves total trade worth RM193.4b with significant export growth in 2023

KUCHING: Sarawak recorded a total trade of RM193.4 billion last year, with RM130.8 billion worth of exports and RM62.6 billion imports.

Deputy Premier of Sarawak Datuk Amar Awang Tengah Ali Hasan said the main traded items were mineral fuels, palm oil and electrical and electronic products, while major imports were intermediate, consumption and capital goods.

“The major exports from Sarawak in 2023 were mining totalling RM76.9 billion, manufacturing totalling RM35.8 billion and agriculture totalling RM17.4 billion.

“Some of the major contributors include liquefied natural gas (LNG), crude petroleum and condensates worth RM76.9 billion, metals, wood, chemicals and electrical & electronic products worth RM31.4 billion and palm oil and palm-based products worth RM16 billion,” he said,

Awang Tengah who is also Sarawak Minister for International Trade, Industry and Investment was speaking at the launching ceremony of Sarawak Exports Day 2024 here today.

Meanwhile, board member of Malaysia External Trade Development Corporation (MATRADE), Datuk Mohd Medan Abdullah said last year, Sarawak was the fourth largest contributor to the nation’s total exports, accounting for 7.9 per cent.

He added that the key sectors with positive export growth included mineral fuels, lubricants, manufactured goods, animal and vegetable oils and fats, crude materials, inedible and prepared food.

“According to the MATRADE’s exporter database as of July 31 this year, 13,454 local companies have registered with MATRADE, of which 283, or 2.1 per cent, are from Sarawak.

“Of this total, 221 (78 per cent) are classified as micro, small and medium enterprises, while the remainder consists of mid-tier and large enterprises,” he said.

Mohd Medan added that despite facing an uncertain global economic landscape, Malaysia’s trade volume surpassed the RM2 trillion mark last year.