In February 2021, Brunei Darussalam's total trade was valued at 1796.1 million dollar, an increase by 18.9 per cent from 1510.7 million dollar during the same month last year.
Meanwhile, for month-to-month changes, total trade for February 2021 increased by 32.8 per cent compared to January 2021. Total exports decreased by 15.3 per cent year-on-year to 949.3 million dollar compared to 1 thousand 121 point 2 million dollar in February 2020. This was mainly due to the decline in Mineral Fuel exports in February 2021 from the same month last year.
The decline in exports of Crude oil was in line with a decline in the total exports volume of Crude Oil compared to February 2020, which is attributed to slow global demand. Meanwhile for LNG, the average exports price declined compared to February, while the exports volume of LNG also decreased compared to the same month last year. In terms of commodity by section, Mineral Fuels represents the major contributor to Brunei Darussalam's exports, followed by Chemicals, Machinery and Transport Equipment, Crude Materials Inedible and Food. The main exports market in February 2021 was Japan followed by Singapore and People's Republic of China.
For imports, the total value increased to 846.8 million dollar on February 2021 from 389.5 million dollar on February last year, mainly driven by an increase in imports of Mineral Fuels which are largely used as input for the production of petrochemical products. In addition, the increase in imports was among others due to an increase in imports of Food, Miscellaneous Manufactured Articles, Chemicals and Manufactured Goods.
The five main imports by commodity were Mineral Fuels, followed by Machinery and Transport Equipment, Food, Manufactured Goods, Miscellaneous Manufactured Articles and Chemicals.
By End Use Category, imports of Intermediate Goods accounted for 57.9 per cent of the total imports, followed by Capital Goods 37.8 per cent and Consumption Goods 4.3 per cent. For imports by trading partners, the highest share was from Greece, followed by Malaysia, and Russia. Imports from Greece, Russia, Nigeria, and Iraq were mostly Mineral Fuels.
According to the mode of transport, the highest share was transport by sea, followed by air transport and via land.
The International Merchandise Trade Statistics (IMTS) for Brunei Darussalam adopts the General System for recording trade statistics, which covers imports, domestic exports, and re-exports. The IMTS full report for February 2021 is available from the DEPS's website at www.deps.gov.bn.
Source: Radio Television Brunei