The total trade for the whole year of 2020 amounting to 16,460.4 million dollars, a decrease of 2.3 percent compared to 16,843.1 million dollars in 2019. The total exports showed a decrease of 7.7 percent to 9,121.8 million dollars compared to 9,886.2 million dollars in 2019. Meanwhile the total imports increased by 5.5 per cent from 6,956.6 million dollars in 2019 to 7,338.6 million dollars in 2020.
In December 2020, Brunei Darussalam's total trade was valued at 1,516.8 million dollars, a decrease from 2,571.3 million dollars during the same month last year. Meanwhile, for month-to-month changes, total trade for December 2020 increased by 20.1 per cent compared to November 2020. Total exports decreased year-on-year to 800.6 million dollars compared to 1,390.8 million in December 2019. This was mainly due to the decline in mineral fuel exports and the decrease in crude oil exports and Liquefied Natural Gas LNG. Total exports was also contributed by the exports of other petroleum and gas products valued at 182.4 million dollars.
In terms of commodity by section, Mineral Fuels represents the major contributor to Brunei Darussalam's exports followed by Chemicals, Machinery and Transport Equipment, Manufactured Goods and Miscellaneous Manufactured Articles. The main exports market in December 2020 was People's Republic of China followed by Japan and Singapore.
For imports, the total value decreased to 716.2 million dollars from 1,180.5 million dollar in December 2019 mainly driven by a decreased in imports of Mineral Fuels and Manufactured Goods. The five main imports by commodity for this month 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 57 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 Australia.
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 December and annual 2020 is available from the DEPS's website at 'www.deps.gov.bn'.
Source: Radio Television Brunei