BANDAR SERI BEGAWAN, Jan 12 (NNN-BB NEWS) – Brunei recorded an 85.5 percent year-on-year drop in trade surplus, for Oct, 2019, due to a jump in major imports.
Latest International Merchandise Trade Statistics, released yesterday (Saturday), by the Department of Economic Planning and Development (DEPD), at the Ministry of Finance and Economy, showed, Brunei’s trade balance for Oct, 2019, decreased to 44.2 million Brunei dollars (32.8 million U.S. dollars) from 304.0 million Brunei dollars in Oct, 2018.
This was largely due to an increase in imports, valued at 725.4 million Brunei dollars, from 551.4 million Brunei dollars, a 31.6 percent rise. Exports decreased in the time frame to 769.6 million Brunei dollars, from 855.4 million Brunei dollars.
Mineral Fuels recorded the highest contribution of total exports (91.2 percent) with 702.2 million Brunei dollars.
“Major exports decreased by 8.9 percent in Oct, 2019. This was mainly due to a decrease in the exports of liquefied natural gas by 26.7 percent. On the other hand, the exports of crude oil increased by 13.5 percent,” said DEPD.
The highest share of exports in Oct, 2019, went to Japan (41.4 percent), followed by Australia (17.2 percent), Thailand (16.4 percent) and the Republic of Korea (7.1 percent).
The highest share of imports in Oct, 2019, came from the United Arab Emirates, accounting for 14.5 percent, followed by Kazakhstan (12.8 percent), Singapore (11.4 percent) and Germany (11.3 percent).– NNN-BB NEWS
