Sarawak registered a total trade volume of RM198.7 billion in 2024, achieving a trade surplus of RM71.1 billion, according to the Department of Statistics Malaysia (DoSM). This performance comes despite global economic headwinds, including market volatility and geopolitical tensions.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin stated that elevated commodity prices, particularly crude palm oil, and firm global demand underpinned the state’s trade resilience. He noted that Sarawak’s key exports — palm oil, liquefied natural gas (LNG), and crude petroleum — continued to perform strongly throughout the year.
“In 2024, Sarawak’s total trade rose by 2.7 per cent compared to 2023, while the trade surplus increased by 4.2 per cent to RM71.1 billion,” he said in a statement.
Exports experienced a 3.1 per cent increase, reaching RM134.9 billion, while imports grew by 1.9 per cent to RM63.8 billion, reflecting robust domestic and international demand.
Japan, China, South Korea, Peninsular Malaysia, and India emerged as Sarawak’s top five export destinations in 2024.
Japan and China jointly accounted for 35.1 per cent of Sarawak’s total exports, valued at RM47.3 billion. Exports to Japan stood at RM29.1 billion, representing a year-on-year increase of 1.4 per cent. LNG led the exports to Japan at RM25.4 billion, followed by wood products at RM1.4 billion and iron and steel products valued at RM0.8 billion.
Meanwhile, exports to China were valued at RM18.2 billion, contributing 13.5 per cent to the state’s total exports. However, this marked a 1.7 per cent decline, equivalent to RM0.3 billion, compared to the previous year. LNG exports to China remained dominant at RM13.5 billion, followed by manufactured metal products at RM1.1 billion, and palm oil and palm-based products at RM0.9 billion.
-Bernama
