Phoong Jin Zhe
KOTA KINABALU: Sabah’s economy continues to demonstrate strong resilience, with total trade surpassing RM100 billion for the third consecutive year, according to the latest data from the Department of Statistics Malaysia (DOSM).
Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe welcomed DOSM’s clarification on Sabah’s trade figures, saying the data proves that the state’s trade remains robust and is on a positive growth trajectory.
“According to the official DOSM report dated 4 July 2025, Sabah’s total trade for 2024 was recorded at RM107.8 billion — a 2.7% increase compared to 2023. This clearly refutes earlier claims suggesting a steep decline,” he said in a statement today.
He referred to concerns raised earlier regarding a sudden spike in Sabah’s 2023 trade statistics, which erroneously recorded a total trade value of RM158 billion. The figure was followed by a reported drop to RM43 billion in 2024, prompting him to seek clarification from DOSM.
“Sabah’s trade between 2019 and 2022 consistently ranged between RM36 billion and RM58 billion. The sudden jump to RM158 billion in 2023 and then a fall to RM43 billion in 2024 created confusion,” said Phoong.
However, DOSM’s latest statement has clarified the matter — confirming that the RM43 billion figure represents international trade based on country of origin and destination, not the total trade figure.
In reality, Sabah’s total trade — which includes trade with Peninsular Malaysia and Sarawak — stood at RM107.8 billion in 2024, up from RM105 billion in 2023.
Phoong said the DOSM data also confirms that international trade in 2024 was RM43 billion, aligning with the department’s earlier release on 16 June. Importantly, international trade for 2023 was RM41.4 billion with exports at RM31 billion, not RM158 billion as previously reported.
“This clarification confirms that Sabah did not suffer a trade collapse — in fact, there was growth in both total and international trade between 2023 and 2024,” he said.
Nevertheless, Phoong expressed regret over the earlier confusion caused by inconsistent data interpretations and reporting.
He also highlighted encouraging signs in Sabah’s industrial sector, with DOSM reporting a 9.3% increase in manufactured goods exports, reaching RM12.0 billion in 2024.
“The performance of our manufacturing exports is particularly promising and reflects the efforts made to enhance Sabah’s industrial development,” he said.
Further key figures from the DOSM report include total exports valued at RM61.3 billion in 2024, while imports rose 10.2% to RM46.4 billion. The state recorded a trade surplus of RM14.9 billion, although this was a 27.9% decrease from the previous year.
Phoong reiterated that the Sabah Government is committed to transparency and economic resilience, and that the DOSM’s clarification has helped restore public and investor confidence.
“Any claims of Sabah facing a trade crisis are clearly misleading and untrue. The data speaks for itself — Sabah’s economy is stable and continues to grow,” he stressed.
