KUCHING, Dec 9 (Bernama) -- Sarawak has continuously registered tradesurpluses since the 1970's and the trend is expected to continue, stateSecond Finance Minister Datuk Seri Wong Soon Koh said.

He said that for the past five years (1999-2003), Sarawak recorded anaverage growth rate of 12.5 percent per annum for its exports and 14percent per annum for imports.

"In terms of value, total exports increased by 47 percent to RM34.3billion in 2003 from RM23.2 billion in 1999," he said in his reply to aquestion by Julaihi Narawai (BN-Sebuyau) at the state assembly sittinghere today.

Similarly, total value of imports increased by 42 percent to RM16.8billion in 2003 from RM11.8 billion in 1999.

Meanwhile for the period January-September this year, the value of exportsstood at RM30.8 billion and imports at RM14.8 billion.

Wong also said that exports from the state in the next ten years areexpected to increase substantially with the coming-on stream ofinvestments in oil and gas, pulp and paper, oil palm plantation andagro-based industries as well as energy intensive industries.

"Likewise, imports will increase as rising development momentum requireshigher imports of capital goods and equipment, which are not manufacturedin Sarawak," he said.

Wong said that due to these positive factors, the state's reserves arelikely to remain healthy and sustainable in the next 10 years.

-- BERNAMA