THE International Merchandise Trade Statistics (IMTS) of the Department of Economic Planning and Development (JPKE) revealed that the total trade of Brunei Darussalam for November 2014 amounted to B$1,304.3 million, comprising exports of B$950.6 million and imports of B$353.7 million.
The trade balance on a month-to-month basis increased by 6.2 per cent to B$596.9 million. At the same time, the total trade also increased by 3.5 per cent.
Exports for November 2014 grew by 4.3 per cent due to an increase in the country’s major export of Liquefied Natural Gas (LNG) by 22.7 per cent.
The increased in LNG export is due to an increase in trade volume of LNG from 718,771 MMBtu per day (October 2014) to 909,539 MMBtu per day in November 2014.
Meanwhile, exports of crude oil declined by 18.3 per cent due to a decrease in the average export price to US$83.01 per barrel in November 2014 from US$91.07 per barrel in October 2014. The highest share of 46.2 per cent of the total exports went to Japan, followed by India (17.9 per cent) and Taiwan (15.4 per cent).
Merchandise imports increased by 1.2 per cent from B$349.5 million (October 2014) to B$353.7 million in November 2014. The commodities that registered increases in imports were Chemicals (73.9 per cent), Miscellaneous Manufactured Articles (35.4 per cent) and Food (19.0 per cent).
The highest share of imports came from Singapore with 23.8 per cent followed by Malaysia (21.0 per cent) and China (14.0 per cent).
The International Merchandise Trade Statistics (IMTS) for Brunei Darussalam adopts the general system for recording trade statistics which cover imports, domestic exports and re-exports.
The IMTS full report for November 2014 is available from JPKE’s website www.depd.gov.bn.