Total International Trade Increased 50.7% in October 2018

Total international trade for Brunei Darussalam in October 2018 has increased to 1 thousand 406.8 million dollars compared to 933.6 million in October the previous year. According to the department of Economic Planning and Development, DEPD, this represents an increase of 50.7 percent year-on-year.

The statistics issued by the DEPD showed that total exports increased by 47 percent year-on-year to 855.4 million dollars in October last year from 582 million dollars in October 2017. This was mainly attributed to the increase in the exports of Crude Oil and Liquefied Natural Gas or LNG. Exports of Crude Oil rose by 28.9 percent year-on-year due to an increase in the average price from 59.52 US dollars per barrel to 82.49 US dollars per barrel. Meanwhile, exports of LNG rose by 60.7 percent year-on-year due to an increase in export volume from 861,566 M-M-B-t-u or One Million British Thermal Unit per day to 877,559 MMBtu per day and an increase in the average price from 7.30 US dollars per MMBtu to 11.38 US dollars per MMBtu.

Meanwhile, total imports of goods increased by 56.8 percent year-on-year to 551.4 million dollars in October 2018 from 351.6 million dollars in October 2017. The five main import commodities were Machinery and Transport Equipment, followed by Manufactured Goods, Mineral Fuels, Food, and Miscellaneous Manufactured Articles.

The largest export market in October last year was Japan with 40.7 percent, followed by the People's Republic of China, 16.6 percent and Thailand, 13.9 percent.

For imports by country of origin, the highest share came from the People's Republic of China, followed by Singapore and the United States of America.

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 October 2018 is available from DEPD's website at www.depd.gov.bn

Source: Radio Television Brunei

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