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Brunei records BND1.3B total trade in May 2020
Brunei Darussalam’s total trade is valued at BND1,302.8 million, an increase by 0.9 per cent from BND1,290.7 million during the same month last year. Meanwhile, for month-to-month changes, total trade for May 2020 increased by 13.9 per cent compared to April 2020.
Exports increased by 20.5 per cent year-on-year to BND865.2 million compared to BND718.1 million in May 2019 due to an increase in chemical exports, from BND20.7 million in May 2019 to BND235.2 million in May 2020. The increase was mainly contributed by the new production of chemical products from the downstream activities. Exports of Mineral Fuels in May 2020 declined in line with drecreased exports of crude oil and Liquefied Natural Gas due to a reduction in volume and average prices.
The main export market for Brunei Darussalam in May 2020 was to the People’s Republic of China (36.2 per cent) followed by Japan (20.3 per cent) and Singapore (17.4 per cent).
In terms of commodity exports, Mineral Fuels represent the major contributor with 70.9 per cent followed by Chemicals (27.2 per cent) and Miscellaneous Transactions (0.7 per cent). Meanwhile, total imports decreased by 23.6 per cent year-on-year to BND437.6 million.
The five main import commodities were Machinery and Transport Equipment (37.3 per cent), followed by Mineral Fuels (14.6 per cent), Chemicals (13.7 per cent), Manufactured Goods, and Food (12.6 per cent each).
By End Use category, imports of Intermediate Goods comprised 58.5 per cent of the total imports followed by Capital Goods (33.4 per cent) and Consumption Goods (8.1 per cent).
For imports by trading partners, the highest share was from Malaysia (26.5 per cent), followed by Singapore, and People’s Republic of China (12.0 per cent each).
In terms of merchandise trade by mode of transport in May 2020, the mode of transport by sea recorded the highest value amounting to BND1,219.4 million. This is followed by air (BND66.7 million) and land (BND16.7 million).
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 May 2020 is available from www.deps.gov.bn.
Source: https://borneobulletin.com.bn/2020/08/brunei-records-bnd1-3b-total-trade-in-may-2020/