Sign in Subscribe
Exports

Sarawak Records Strong Trade Performance in 2024, Despite Global Uncertainties

Strategic Insights

— 1 min read

The state of Sarawak in Malaysia posted a robust trade performance in 2024, with a total trade value of RM198.7 billion and a trade surplus of RM71.1 billion, according to the Department of Statistics Malaysia (DoSM). The growth was attributed to higher commodity prices, particularly crude palm oil, driven by firm global demand. Major exports such as palm oil, liquefied natural gas (LNG), and crude petroleum remained strong, contributing to the trade growth.

Key Takeaways:

  • Sarawak's total trade value reached RM198.7 billion in 2024, marking an increase of 2.7 per cent compared to 2023.
  • The trade surplus grew by 4.2 per cent to RM71.1 billion in 2024.
  • Exports expanded by 3.1 per cent to RM134.9 billion, while imports surged by 1.9 per cent to RM63.8 billion.
  • Japan and China were Sarawak's top two export destinations, accounting for 35.1 per cent of the state's total exports, valued at RM47.3 billion.
  • LNG was the top export product to Japan, valued at RM25.4 billion, followed by wood products and iron and steel products.
  • Exports to China valued at RM18.2 billion, with LNG, manufactured metal products, and palm oil and palm-based products being the top export products.

Statistics:

  • Total trade value: RM198.7 billion
  • Trade surplus: RM71.1 billion
  • Export growth: 3.1 per cent
  • Import growth: 1.9 per cent
  • Top export destinations: Japan and China (35.1 per cent of total exports)
  • Top export products to Japan: LNG (RM25.4 billion), wood products (RM1.4 billion), iron and steel products (RM0.8 billion)
  • Top export products to China: LNG (RM13.5 billion), manufactured metal products (RM1.1 billion), palm oil and palm-based products (RM0.9 billion)

Sources:

  • BERNAMA News Agency (04 Jul 2025)
  • Department of Statistics Malaysia (DoSM)

Read more