S'wak govt expects positive trade balance to continue
Published on: Friday, December 10, 2004
Kuching: Sarawak has continuously registered trade surpluses since the 1970's and the trend is expected to continue, state Second Finance Minister Datuk Seri Wong Soon Koh said.He said that for the past five years (1999-2003), Sarawak recorded an average growth rate of 12.5 percent per annum for its exports and 14 percent per annum for imports."In terms of value, total exports increased by 47 percent to RM34.3 billion in 2003 from RM23.2 billion in 1999," he said in his reply to a question by Julaihi Narawai (BN-Sebuyau) at the state assembly sitting here Thursday.
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Similarly, total value of imports increased by 42 percent to RM16.8 billion in 2003 from RM11.8 billion in 1999.Meanwhile for the period January-September this year, the value of exports stood at RM30.8 billion and imports at RM14.8 billion.Wong also said that exports from the state in the next ten years are expected to increase substantially with the coming-on stream of investments in oil and gas, pulp and paper, oil palm plantation and agro-based industries as well as energy intensive industries.Stay up-to-date by following Daily Express’s Telegram channel.
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Wong said that due to these positive factors, the state's reserves are likely to remain healthy and sustainable in the next 10 years.-Bernama
