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Labuan is very much an import-export oriented economy. Virtually all of ots commodities including crude oil, methanol, HBI, gas, flour, animal feed, sea products and ceramic tiles are exported either to Peninsular Malaysia or overseas. Raw materials, parts and equipments for industrial useas well as consumer products are imported. In 2004, the total value of Labuan's external trade reached RM 11.8 billion from only RM5.0 billion in 1995 for a net trade surplus of RM5.1 billion. Among its major trade partners are India, Peninsular Malaysia, Sarawak and South Korea. 65% of its exports are comprised of petroleum and gas-based products.
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Over 90% of Labuan's external trades are conducted through seaports. This is a clear indication of Labuan's dependency on ports for its domestic industries and consumers.
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Labuan Liberty Port Management Sdn Bhd
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