Brunei Darussalam total trade for November 2020 was valued at 1,263.4 million dollars, a decrease by 39.5 per cent from 2,087.1 million dollars during the same month in 2019. In the media release by the Department of Economic Planning and Statistics, Ministry of Finance and Economy, for the month-to-month changes, total trade for November 2020 stumbled by 14.1 per cent compared to October 2020. Meanwhile, total exports slipped by 51.1 per cent year-on-year to 545.7 million dollars compared to 1,113.9 million dollars in November 2019.
This was mainly due to the decline in mineral fuel exports to 405.8 million dollars in November 2020 from 1,024.1 million dollars in November 2019. The drop in mineral fuel exports was due to the decrease in crude oil exports and Liquefied Natural Gas following slow global demand as well as declining prices. Total exports was also contributed by the exports of Other Petroleum and Gas Products.
In terms of commodity by section, Mineral Fuels represents the major contributor to the country's exports, followed by Chemicals; Miscellaneous Manufactured Articles; Machinery and Transport Equipment; and Manufactured Goods. Main exports market in October 2020 were Japan, followed by the People's Republic of China and Thailand.
For imports, the total value dropped to 717.7 million dollars in November 2020 from 973.2 million dollars in the same period in November, mainly driven by a decrease in imports of Mineral Fuels and Machinery and Transport Equipment. The five main imports by commodity were Mineral Fuels; Machinery and Transport Equipment; Manufactured Goods; Food; and Chemicals. By End Use category, imports of Intermediate Goods accounted for 57.3 per cent of the total imports, followed by Capital Goods and Consumption Goods.
For imports by trading partners, the highest share was from Malaysia, followed by Singapore and Saudi Arabia. According to the mode of transport, the highest share was transport by sea which amounts to 1,159.7 million dollars, was followed by air transport at 75.2 million dollars and via land at 28.5 million dollars. The International Merchandise Trade Statistics' full report for November 2020 is available from at 'www.deps.gov.bn'.
Source: Radio Television Brunei