PUTRAJAYA: First it was confirmation by the Sabah Audit Department that Sabah recorded one of the highest state revenues in Malaysia with RM7.6 billion recorded in 2023.
Now the Statistics Department’s (DOSM) said Sabah’s external trade registered a total value of RM107.8 billion in 2024 – surpassing the RM100 billion mark for the third consecutive year since 2022.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said Sabah’s total trade registered a growth of 2.7 per cent, in terms of year-on-year basis.
“Exports amounted to RM61.3 billion in 2024, a decline of 2.3 per cent as compared to the previous year. Imports increased by 10.2 per cent, from RM42.2 billion to RM46.4 billion.
“The higher growth in imports resulted in a 27.9 per cent decline in the trade balance, with a lower trade surplus of RM14.9 billion in 2024,” he said in a statement Friday.
Dr Mohd Uzir said the three main commodities contributing to Sabah’s exports in 2024 were crude petroleum valued at RM21.3 billion, followed by palm oil (RM17.3 billion) and Liquefied Natural Gas (RM4.6 billion).
“Overall, the exports of these main commodities amounted to RM43.2 billion or 70.4 per cent of Sabah’s total exports.
“As for imports, the main contributors were refined petroleum products at RM5.2 billion, manufactured fertilisers (RM1 billion) and palm-based oleochemicals (RM266 million),” he said.
The publication presents statistics on the volume and value of Sabah’s external trade with trading partners, along with detailed breakdowns by commodity classification.
On Thursday, Sabah Audit Department Deputy Director Khairul Anuar Amat Johari said notwithstanding the RM2.9b public debt, Sabah’s assets were valued at RM9.1b, while claimable loans were at RM1.26 billion and investments at RM7.9b.
He said Sabah also did not face any shortage of funds to manage development projects.
State Minister of Industrial Development and Entrepreneurship Datuk Phoong Jin Zhe said confirmation of a 2.7 per cent increase for 2024 reflects continued stability and growth in the state’s economy, contrary to opposition claims.
“This shows a healthy performance and clearly disproves claims of a sharp decline in Sabah’s trade,” he said.
Phoong said he had written to DOSM to seek clarification on the matter, following some confusion earlier.
According to DOSM’s latest explanation, Sabah’s total trade for 2024, including transactions with Peninsular Malaysia and Sarawak, was RM107.78 billion, compared to RM105 billion in 2023.
International trade, based on country of origin and destination, reached RM43 billion in 2024. This is higher than the revised figure of RM41.4 billion for 2023, which included RM31 billion in exports.
Phoong said the previously announced figure of RM158 billion was inaccurate and that DOSM’s clarification helped restore public confidence in Sabah’s trade data.
“This confirms that there was no drastic drop in 2024. On the contrary, both overall and international trade values recorded growth,” he said.
He also noted that exports of manufactured goods rose by 9.3 per cent to RM12 billion in 2024, calling it a promising sign for the state’s industrial sector.
