Sarawak among top contributors to Malaysia’s exports in July 2024, says Stats Dept

KUCHING (Aug 28): Malaysia’s total exports in July 2024 rose to RM131.1 billion, driven by contributions by most states such as Johor (RM5.2 billion), Selangor (RM2.3 billion), Pulau Pinang (RM1.9 billion), and Sarawak (RM1.8 billion), according to the Department of Statistics Malaysia.

However, exports decreased in Labuan by RM1.1 billion, Sabah (-RM150.4 million), Perlis (-RM34.8 million) and Kelantan (-RM26.3 million), the Department of Statistics (DOSM) reported.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin was quoted by Bernama as saying that exports rose by RM14.4 billion, or 12.3 per cent, to RM131 billion in July 2024 compared to the same month in the previous year.

According to the July 2024 Export Import Statistics report, published by DOSM, Malaysia’s total trade for July 2024 amounted to RM255.9 billion with exports and imports recorded RM131.1 billion and RM124.7 billion, respectively.

At the same time, imports in July 2024 increased RM25.3 billion (+25.4 per cent) as compared to the same month in 2023.

DOSM said, the increase in imports was attributed by the higher imports in most states such as Pulau Pinang (+RM8.4 billion), Johor (+RM5.6 billion), Selangor (+RM5.4 billion), Kedah (+RM2.3 billion), Kuala Lumpur (+RM1.5 billion), Melaka (+RM440.6 million), Perak (+RM380.8 million), and Sarawak (+RM138.6 million), among others.

However, imports decreased in Sabah by RM43.7 million and Labuan (-RM36.8 million).

On Malaysia’s overall trade performance, DOSM said it remained favourable in July 2024. Total trade recorded an increase of 18.3 per cent or RM39.7 billion to reach a value of RM255.9 billion as compared to RM216.2 billion in the previous year.

Imports surged by 25.4 per cent or RM25.3 billion to RM124.7 billion. Concurrently, exports rose by 12.3 per cent or RM14.4 billion to RM131.1 billion.

Trade balance recorded a surplus of RM6.4 billion, down by 62.9 per cent from RM17.3 billion in July 2023.

As compared to June 2024, it noted that exports, imports, and total trade recorded a positive growth of 4.1 per cent, 11.6 per cent and 7.6 per cent, respectively, whereas trade surplus decreased by 55.1 per cent.

It also reported that exports, imports and total trade for January to July 2024 rose by 5.1 per cent, 15.5 per cent and 9.8 per cent, respectively, as compared to the same period of preceding year.

Meanwhile, trade surplus declined by 46.9 per cent.