Budget 2024: Agri-commodity sector contributes RM38 billion to GDP, RM77.4 billion to exports

KUALA LUMPUR - The agri-commodity sector has made substantial contributions, with a total of RM38 billion, approximately five per cent of the GDP, and RM77.4 billion, equivalent to 11 per cent of the nation's exports.

Prime Minister Datuk Seri Anwar Ibrahim highlighted this while presenting Budget 2024 and stressed that these significant achievements had continued to have an impact despite the global economic volatility.

"Despite these remarkable achievements, the agri-commodity sector has not remained unaffected by various challenges and the fluctuations in the global economy.

"These challenges encompass the repercussions of non-tariff barriers imposed by importing countries, such as the European Union Deforestation-free Regulation (EUDR).

"Other issues include concerns related to foreign energy dependency and the adoption of modern technologies," he said.