The export volume index in the third quarter (Q3) of 2024 rose by 14.4 per cent compared to the same period in the previous year.
The increase was primarily driven by growth in the export volume indices of inedible crude materials (26.9 per cent), machinery and transport equipment (16.9 per cent) and mineral fuels (15.4 per cent).
However, the export unit value index declined by 4.9 per cent, resulting in a decrease in export value from BND4,092.4 million to BND3,600.9 million.
The decrease in the export unit value index was mainly due to a decline of 18.5 per cent in miscellaneous manufactured articles index, driven by lower unit values for professional, scientific, and controlling instruments and apparatus.
This was followed by a 7.2-per cent decrease in the manufactured goods index and a 6.1 per cent decline in the chemicals index
The import unit value index fell by 6.8 per cent compared to the previous year, lowering imports value from BND2,624.5 million to BND2,383.3 million.
The decrease was mainly due to the decline in the indices of manufactured goods (22.5 per cent), mineral fuels (9.8 per cent), and machinery and transport equipment (0.4 per cent).
The import volume index in Q3 2024 decreased by 1.1 per cent, primarily due to a 10.1 per cent decline in the index of mineral fuels, driven by a reduction in the imports volume of petroleum products and related materials.
This was followed by decreases in the volume indices of chemicals (8.0 per cent) and manufactured goods (6.0 per cent).
The International Merchandise Trade Index (IMTI) measures the changes of unit value and volume of import and export commodities in Brunei within a specific period of time.
The index can be useful in the analysis of competitiveness in the global market, measurement and forecasting of inflation and compilation of national accounts.
