Brunei Darussalam's total trade valued at 1,183.1 million dollars in September 2020, an increase by 12.5 per cent from 1,051.8 million dollars during the same month last year. Meanwhile, for month-to-month changes, total trade for September 2020 decreased by 14 point 6 per cent compared to August 2020. Department of Economic Planning and Statistics, Ministry of Finance and Economy in its press release stated that the total exports decreased by 3.5 per cent year-on-year to 597.4 million dollars compared to 618.8 million dollars in September 2019.
This was mainly due to the decline in crude oil exports to 115.3 million dollars in September 2020 from 289.6 million dollars in September 2019 and also a decrease in Liquefied Natural Gas, LNG to 168 million dollars in September 2020 from 277.5 million dollars in September 2019. The decline in exports of crude oil and LNG was due to the slow global demand and a decline in prices. However, the decline in total exports was offset by an upsurge in exports of Chemicals to 142.6 million dollars in September 2020 from 19.3 million dollars in September 2019, particularly to the People's Republic of China and Singapore. In terms of commodity by section, Mineral Fuels represents the major contributor to Brunei Darussalam's exports, followed by Chemicals, Machinery and Transport Equipment, Miscellaneous Transactions and Miscellaneous Manufactured Articles.
Source: Radio Television Brunei