SABAH

TRADE SUMMARY

JANUARY – MARCH 2003

1. Balance of Trade

1.1 Sabah recorded a favourable balance of trade with a surplus amounting to RM1,366.0 million during the first quarter of 2003 as against RM479.8 million during the corresponding period last year, an increase of RM886.2 million or 184.7%. The higher surplus was attributed to the higher exports of RM1,221.8 million vis-à-vis the increase in imports by RM335.6 million between the review periods. Significant increase was noted in the exports of palm oil and crude petroleum during this period.

2. Exports

2.1 Sabah’s total export revenue amounted to RM4,337.7 million in January-March 2003 as against RM3,115.9 million for the corresponding period last year, an increase of 39.2% or RM1,221.8 million. Sabah’s major export commodities during the current review period were palm oil, crude petroleum, palm kernel oil, sawn timber, methanol hot briquetted iron, and uncoated printing & writing paper which together accounted for RM3,382.8 million or 78.0% of total exports.

2.2 Palm oil, Sabah’s foremost export commodity with RM1,521.4 million contributed to 35.1% of the State’s total export earnings in January-March 2003, a 54.3% increase from RM985.9 million of the previous year (+RM535.6 million). The higher receipt was jointly attributed to the better f.o.b. export price which soared by 40.8% from RM1,131.1 per tonne to RM1,592.8 per tonne coupled with the higher volume exported by 9.9% to 955.2 thousand tonnes. The People’s Republic of China (303.9 thousand tonnes), the Netherlands (176.4 thousand tonnes), India (114.3 thousand tonnes) and Pakistan (85.7 thousand tonnes) were the main buyers during the current review period.

2.3 Crude petroleum was the second important revenue earner and recorded an increased revenue of RM1,000.3 million as against RM660.3 million during the two review periods. This was mainly due to the higher f.o.b. export price from RM549.1 per tonne to RM892.9 per tonne. (+RM343.8 per tonne). Exports volume recorded a 6.9% drop from 1,203 thousand tonnes to 1,120 thousand tonnes. India, the Republic of Indonesia and Peninsular Malaysia together imported about 80.4% of Sabah’s crude petroleum.

2.4 Plywood generated a revenue of RM278.8 million as against RM239.3 million during the periods under review, an increase of RM39.5 million or 16.5%. The f.o.b. export price rose by RM103.8 per cubic metre to RM1,077.6 per cubic metre and the volume exported amounted to 258.7 thousand cubic metres. The main importers for Sabah’s plywood during the first quarter of 2003 were the Republic of Korea (55.9 thousand cubic metres), Japan (54.6 thousand cubic metres), the U.S.A (46.9 thousand cubic metres) and Peninsular Malaysia (39.8 thousand cubic metres)

3. Imports

3.1 Sabah’s import registered a 12.7% increase from RM2,636.1million for January-March 2002 to RM2,971.7 million for the current review period, an additional RM335.6 million mainly on the increased expenditure on machinery & transport equipment (+RM177.3 million), mineral fuels, lubricants & related, materials (+RM81.7 million) and food (+RM45.3 million).

3.2 Machinery and transport equipment was Sabah’s main import item amounting to RM1,037.8 million or 34.9% of total imports. Road vehicles (RM418.4 million), power generating machinery and equipment, n.e.s. (RM142.2 million), general industrial machinery and equipment, n.e.s and machine parts n.e.s. (RM131.2 million) and machines for particular industries (RM118.8 million) were the main component items imported.

3.3 Imports of manufactured goods amounted to RM381.5 million or 12.8% of total imports during the first quarter of 2003. Iron and steel (RM124.5 million), manufactures of metals n.e.s (RM82.6 million), rubber manufactures (RM46.5 million) and non-metallic mineral manufactures (RM51.7 million) were the main constituent items imported.

3.4 Sabah imported RM357.8 million worth of chemicals & related products during the current review period which accounted for 12.0% of total imports. Manufactured fertilizers were the major component item imported.

4. Direction of Trade

Sabah’s main trading partners during the first quareter of 2003 were Peninsular Malaysia, ASEAN , the People’s Republic of China, India, the European Union, Japan, U.S.A, Sarawak, the Republic of Korea and Taiwan in that order of importance.

Department of Statistics Malaysia,

(Sabah Branch), Kota Kinabalu

9 May 2003.

Note: Figures may not add up to totals due to rounding. x - Less than 0.05% + - Less than RM0.05 Million

		Quantity			Value
	Unit of	January-March		Changes in	January-March		Changes in
Major Commodities	Quantity	2002	2003	Quantity	2002	2003	Value
1. Palm Oil ( Crude & Processed)	Tonnes	868,900	955,205	86,305	985.9	1,521.4	535.6
2. Petroleum (Crude)	‘000Tonnes	1,203	1,120	-83	660.3	1,000.3	340.0
3. Plywood	Cu Metres	245,718	258,733	13,015	239.3	278.8	39.5
4. Palm Kernel Oil	Tonnes	114,427	99,931	-14,496	126.0	169.8	43.8
5. Sawn Timber ( Incl. conifer)	‘000 Cu Metres	112	107	-5	118.1	124.0	5.9
6. Prawns, fresh, frozen	Tonnes	2,754	2,293	-461	65.9	52.8	-13.1
7. Uncoated Printing & Writing Paper	Tonnes	31,801	29,410	-2,391	65.5	66.2	0.8
8. Hot Briquetted Iron	Tonnes	114,994	219,569	104,575	43.9	108.4	64.5
9. Laminated Wood	Cu. Metres	31,195	26,151	-5,044	30.6	29.8	-0.8
10. Veneer Sheets	Cu. Metres	30,841	36,068	5,227	29.5	37.0	7.5
11. Palm Kernel Cake	Tonnes	110,560	161,203	50,643	20.8	28.8	8.0
12. Cocoa Beans (Raw & Roasted)	Tonnes	4,249	6,563	2,314	18.2	43.5	25.3
13. Moulded Woods	Cu. Metres	8,390	6,387	-2,003	16.9	11.4	-5.5
14. Methanol	Tonnes	34,583	162,151	127,568	13.0	113.9	101.0
15. Rubber	Tonnes	5,653	7,978	2,325	11.9	25.9	14.0
Total Selected Major Exports					2,445.8	3,612.2	1,166.4
Other Exports					670.1	725.5	55.4
Total Exports					3,115.9	4,337.7	1,221.8

	January-March
S.I.T.C. Commodity Sections	2002		2003		Changes in	% Change Over
	Value	% of total	Value	% of total	Value	Corresponding Year
	(1)	(2)	(3)	(4)	(5)=(3)-(1)	(6)=(5)/(1)x100
0. Food	311.7	11.8	357.0	12.0	45.3	14.5
1. Beverages & tobacco	91.4	3.5	113.1	3.8	21.7	23.7
2. Crude materials, inedible except fuels	77.4	2.9	95.3	3.2	17.9	23.1
3. Mineral fuels, lubricants & related materials	244.1	9.3	325.8	11.0	81.7	33.5
4. Animal & vegetable oils & fats	24.1	0.9	12.9	0.4	-11.1	-46.2
5. Chemicals & related products	317.4	12.0	357.8	12.0	40.4	12.7
6. Manufactured goods classified chiefly by materials	405.0	15.4	381.5	12.8	-23.4	-5.8
7. Machinery & transport equipment	860.5	32.6	1,037.8	34.9	177.3	20.6
8. Misc. manufactured articles	242.8	9.2	226.5	7.6	-16.2	-6.7
9. Misc. transactions & commodities	61.8	2.3	63.9	2.1	2.0	3.3
TOTAL IMPORTS	2,636.1	100.0	2,971.7	100.0	335.6	12.7

	Imports				Exports
	January-March				January-March
Country/	2002		2003		2002		2003
Country Groupings	Value	% of total	Value	% of total	Value	% of total	Value	% of total
1. Rest of Malaysia :
- Peninsular Malaysia	1,568.1	59.5	1,682.7	56.6	471.2	15.1	657.4	15.2
- Sarawak	82.8	3.1	59.1	2.0	332.6	10.7	211.1	4.9

2. ASEAN :
- Brunei Darussalam	0.9	x	0.6	0.0	20.8	0.7	41.8	1.0
- Cambodia	0.2	0.0	4.6	0.2	-	-	-	-
- Indonesia, Rep. Of	69.8	2.6	71.4	2.4	117.2	3.8	284.8	6.6
- Laos, People’s Dem. Rep. of	-	-	-	-	-	-	-	-
- Myanmar, Union of	0.5	x	3.1	0.1	0.3	x	2.8	x
- Philippines	10.9	0.4	17.8	0.6	40.1	1.3	36.1	0.8
- Singapore, Rep. Of	126.6	4.8	183.8	6.2	90.0	2.9	88.1	2.0
- Thailand	32.0	1.2	30.5	1.0	36.5	1.2	56.1	1.3
- Vietnam, Soc. Rep. Of	8.5	x	13.0	0.4	13.3	0.4	11.9	0.3
Total ASEAN	249.4	9.1	324.7	10.9	318.2	10.2	521.6	12.0

3. Japan	117.8	4.5	163.4	5.5	206.7	6.6	250.6	5.8
4. China, People’s Rep. Of	101.0	3.8	134.8	4.5	307.2	9.9	582.4	13.4
5. Taiwan	39.1	1.5	33.2	1.1	66.9	2.1	102.8	2.4
6. Korea, Rep. of	14.2	0.5	18.4	0.6	314.8	10.1	166.9	3.8
7. India	17.6	0.7	15.4	0.5	316.7	10.2	666.1	15.4
8. European Union	131.2	5.0	114.1	3.8	234.5	7.5	472.6	10.9
9. U.S.A.	172.8	6.6	252.5	8.5	97.3	3.1	158.6	3.7
10. Other Countries	142.0	5.4	173.2	5.8	449.7	14.4	547.6	12.6
Total	2,636.1	100.0	2,971.7	100.0	3,115.9	100.0	4,337.7	100.0

Table 1- EXPORTS OF MAJOR COMMODITIES

SABAH

Imports

January-March

Total ASEAN

Total