Statistics Dept reports total trade rose 2.7% for Sabah in 2024
In a statement on Friday (July 4), DOSM reported that total trade rose by 2.7% to RM107.78bil, up from RM105bil in 2023.
Sabah Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said the latest data shows the state's economy remains stable and on the right track.
'This clearly shows that Sabah's economy remains stable and continues on a positive growth path,' he said in a statement on Friday.
He added that DOSM has also clarified that a previously reported figure of RM158bil for 2023 was incorrect. The department now states that actual international trade that year was RM41.4bil, with exports at RM31 billion.
"This proves that claims of a drastic trade collapse in 2024 were inaccurate. In fact, trade grew under both domestic and international measures,' he said.
Phoong also highlighted that manufacturing exports rose by 9.3% to RM12bil last year — a sign that Sabah's industrial base is strengthening.
'This clarification restores public confidence and confirms Sabah's solid trade performance,' he added.
Previously, Sabah Umno information chief Datuk Suhaimi Nasir had claimed that the state's exports had dropped by RM59.3bil and accused the government of failing to manage the economy.
Last month, Phoong was reported as saying that Sabah's trade between 2019 and 2022 consistently hovered between RM36bil and RM58bil, and described the RM158bil figure for 2023 as a 'super spike.'
He said it was likely due to a one-off transaction involving a large-scale investment project.
'You can't simply compare 2024 to 2023 and call it a collapse. If one year is abnormally high due to a unique transaction, and the next year returns to the long-term average, it doesn't mean the economy has shrunk — it means the previous figure was an outlier,' he had said.
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