Brunei trade balance increases by 33.1pc in December 2017

TOTAL Trade in December 2017 increased to BND1,138.5 million compared to BND855.5 million in December 2016, representing an increase of 33.1 per cent year-on-year. Meanwhile, trade balance rose to BND357.5 million from BND236.3 million in December 2016, which is an increase of 51.3 per cent year-on-year.

Exports increased by 37.0 per cent year-on-year to BND748.0 million from BND545.9 million (December 2016). 91.5 per cent of total exports was contributed by mineral fuels comprising crude oil (BND317.2 million) and Liquefied Natural Gas (LNG) (BND367.0 million) which rose by 28.0 per cent and 57.3 per cent respectively. The expansion was due to increases in the volume and prices of crude oil and LNG exports.

Imports of goods increased by 26.1 per cent year-on-year from BND236.3 million (December 2016) to BND390.5 million (December 2017). Meanwhile, the top contributors of imports were manufactured goods (36.0 per cent), machinery and transport equipment (32.3 per cent) and food (11.4 per cent).

The highest exports market was to Japan with 35.7 per cent of total exports, followed by Singapore (17.5 per cent), Thailand (14.7 per cent) and Republic of Korea (13.9 per cent).

In terms of imports by country of origin, the highest share came from China with 37.4 per cent, followed by Malaysia (15.7 per cent), Singapore (11.4 per cent) and USA (9.3 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 December 2017 is available on JPKE’s website at www.depd.gov.bn.