Brunei’s exports rise 34.5% on month in July, led by oil & LNG

National 1 minute, 19 seconds

BANDAR SERI BEGAWAN

BRUNEI’S exports in July rose 34.5 per cent on month to $677.9 million, the Department of Economic Planning and Development (JPKE) said yesterday.

The latest International Merchandise Trade Statistics (IMTS) published by the department said July’s mineral fuels exports recorded the highest contribution at $472.6 million of total exports followed by chemicals at $168.7 million and machinery and transport equipment at $26.5 million.

The report said the major exports comprised crude oil valued at $218.6 million and liquefied natural gas at $254 million.

Most of Brunei’s exports continued to go to Japan, which accounted for 26.1 per cent of the sultanate’s export market, followed by Singapore with 24.3 per cent, India with 10.6 per cent and Australia with 8.6 per cent.

Meanwhile, imports of goods in July decreased by 22.9 per cent on month to $260.1 million. The main imports by commodity were machinery and transport at $96.4 million followed by manufactured goods at $50.8 million and food at $40.1 million.

Imports of intermediate goods accounted for 58.3 per cent of the total imports. This was followed by imports of capital goods at 32.9 per cent and consumption goods at 8.7 per cent.

More than 20 per cent of Brunei’s imports came from Malaysia. This was followed by China at 18.1 per cent, Singapore at 16.1 per cent and the US at 8.1 per cent.

The trade balance for the month of July was recorded at $417.8 million, up more than 150 per cent from $166.5 million in the previous month.

Brunei’s IMTS adopts the General System for recording trade statistics which covers imports, domestic exports and re-exports. The full report is available at www.depd.gov.bn.

The Brunei Times