The trade balance in June 2024 has recorded a surplus of BND347.2 million, compared to a deficit of BND154.9 million in June 2023. This was driven by an increase in exports value by 15.5 per cent to BND1,007.5 million, whereas imports value fell by 35.7 per cent to BND660.3 million.
The major contributors to export value were Mineral Fuels at 71.5 per cent, followed by Chemicals at 20.7 per cent and Machinery and Transport Equipment at 6.9 per cent.
The main export markets were People’s Republic of China at 22.0 per cent, followed by Singapore and Australia at 19.9 per cent and 11.5 per cent respectively. The largest export commodity to these countries were Mineral Fuels and Chemicals.
Meanwhile, imports in June 2024 were valued at BND660.3 million. The three main imports by commodity were Mineral Fuels, accounting for 62.9 per cent, followed by Machinery and Transport Equipment at 11.2 per cent, and Food at 8.6 per cent.
The largest import partners were Malaysia accounting for 59.5 per cent, followed by People’s Republic of China at 14.4 per cent and Australia at 6.1 per cent. The main import commodities from these partners were Mineral Fuels; Food; and Machinery and Transport Equipment.
Overall, total trade fell 12.2 per cent, from BND1,900.1 million in June 2023 to BND1,667.8 million, following a decline in imports by 35.7 per cent.
The imports for end-use categories, were mainly used as Intermediate Goods for processing at 60.2 per cent, followed by Capital Goods at 36.0 per cent for business operations, and Consumption Goods at 3.8 per cent for household.
