13.11.2018 (The Borneo Post) - KUCHING: Sarawak’s total trade has expanded to RM102.6 billion in the first nine months of 2018 (9M18).

International Trade and E-Commerce Minister Dato Sri Wong Soon Koh said this was an increase of 1.1 per cent when compared to the same period in 2017 which was RM101.5 billion.

He pointed out that exports decreased by 2.9 per cent from RM71.7 billion to RM69.6 billion while imports grew at 10.9 per cent from RM29.8 billion to RM33 billion.

“Despite a decline in exports, Sarawak still maintains a large trade surplus of RM36.6 billion,” he said in his ministerial winding-up speech at the State Legislative Assembly (DUN) Sitting today.

He noted that export receipts from liquefied natural gas (LNG) remains the biggest contributor at 39.6 per cent followed by crude petroleum at 12.3 per cent and palm oil at 9.5 per cent.

“Our major export partners also remain the same, namely Japan at 25.8 percent, Peninsular Malaysia (15.7 percent) and China (11.3 percent).

“These three markets contributed 52.8 percent to the total export value.”

On main import items, Wong said the state mainly imports machinery and transport equipment which comprises of 32 per cent, followed by chemical products (15.3 per cent) and manufactured goods (13.7 per cent).

“The higher importation of machinery and transport equipment is for the construction of many major infrastructure development in the state.”