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Export Increase in Q1 2022

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​The International Merchandise Trade Index, IMTI in the first quarter 2022, showed that the total exports increased by 55.3 per cent compared to first quarter 2021, which was from BND2,825.9 million in first quarter 2021 to 4,388.2 million in the first quarter this year.

This increase is due to a rise in the export unit value index by 59.7 per cent, which was contributed from the growth in the index of Beverages, Crude Materials Inedible and Mineral Fuels index. Rising prices of these commodities in the world market are among the main factors contributing to the increase in exports unit value index in the first quarter of 2022.

Meanwhile, the export volume index fell by 5.8 per cent compared to first quarter 2021, contributed by the decline in the exports volume index of Crude Materials Inedible. The decline in the index is indicated a decline in terms of the quantity of goods exported abroad.

The total imports in first quarter 2022 increased by 29.5 per cent compared to the first quarter 2021 due to the rise in imports unit value index by 3.2 per cent. The rise in the imports units’ value index was mainly contributed by Mineral Fuels, Animal and Vegetables Oils and Fats and Chemicals which reflected the increase in prices for those goods from the producing countries. The imports volume index decreased by 7.8 per cent in first quarter 2022. Meanwhile, the terms of trade registered an increase of 54.8 per cent in first quarter 2022 compared to first quarter 2021.

The full report of International Merchandise Trade Index first quarter 2022 is available at DEPS’s website.

Source: Radio Television Brunei