Brunei Darussalam’s total trade in December 2021 was valued at $2,640.6 million, an increase by 74 percent from the same month last year. Meanwhile, for month-to-month changes, total trade for December 2021 increased by 12.3 percent compared to November 2021.
The Department of Economic Planning and Statistics, Ministry of Finance and Economy in its press release stated that total exports increased by 90.3 percent year-on-year to $1,523.5 million compared to December 2020. The increase in Mineral Fuels exports was largely due to an increase in the value of exports of crude oil; Liquefied Natural Gas, LNG and petroleum products from the downstream activities. In terms of commodity by section, Mineral Fuels represents the major contributor to Brunei Darussalam’s exports, followed by Chemicals, and Machinery and Transport Equipment.
The main exports market in December 2021 was Japan followed by Australia and People’s Republic of China. The largest export commodity to Japan and Australia was Mineral Fuels. For imports, the total value increased to $1,117.1 million in December 2021 compared to December 2020. This is mainly due to a significant increase in imports of Mineral Fuels.
The five main imports by commodity were Mineral Fuels, followed by Machinery and Transport Equipment, Food, Manufactured Goods and Miscellaneous Manufactured Articles. By End Use Category, imports of Intermediate Goods accounted for 58.8 percent of the total imports, followed by Capital Goods and Consumption Goods.
For imports by trading partners, the highest share was from Russia, followed by Malaysia and Australia, with Mineral Fuels as the largest import commodity. According to the mode of transport, in December 2021, the highest share for both exports and imports was transport by sea. This was followed by air transport and via land. For whole year 2021, the total trade was valued at $26,373.6 million compared 2020. The IMTS full report for December 2021 is available from the DEPS’s website at deps.mofe.gov.bn.
Source: Radio Television Brunei