Total trade recorded BND1,495M in October 2019

Brunei Darussalam’s total trade in October 2019 increased by 6.3 per cent to BND1,495 million compared to October 2018, according to a press statement by the Department of Economic Planning and Development (JPKE).

Total exports decreased by 10 per cent year-on-year to BND769.6 million in October 2019, compared to BND855.4 million in October 2018. This was due to the decline in exports of Liquefied Natural Gas (LNG) by 26.7 per cent following the average decline in LNG prices from USD11.38 per barrel per day (October 2018) to USD8.52 per barrel per day in October 2019. Meanwhile, the exports of Crude Oil posted an increase by 13.5 per cent due to increase in exports volume of Crude Oil by 47.2 per cent, from 96.16 kbbl per day (October 2018) to 141.58 kbbl per day in October 2019.

Total imports increased by 31.6 per cent year-on-year to BND725.4 million. The five main import commodities were Mineral Fuels (40.9 per cent), followed by Machinery and Transport Equipment (26.6 per cent), Manufactured Goods (14.8 per cent), Food (6.7 per cent) and Chemicals (5.0 per cent).

By End Use category, imports of Intermediate Goods comprised 57.7 per cent of the total imports, followed by Capital Goods (37.2 per cent) and Consumption Goods (5.1 per cent).

The main export market for Brunei Darussalam in October 2019 was Japan (41.4 per cent), followed by Australia (17.2 per cent) and Thailand (16.4 per cent).

For imports by trading partners, the highest share was from the United Arab Emirates (14.5 per cent), followed by Kazakhstan (12.8 per cent) and Singapore (11.4 per cent).

The International Merchandise Trade Statistics (IMTS) for Brunei Darussalam adopts the General System for recording trade statistics, which covers imports, domestic exports, and re-exports. The IMTS full report for October 2019 is available from JPKE’s website at www.depd.gov.bn.