​Exports Unit Value Index continues to rise in the third quarter of 2022 driven by higher commodities prices in the world market. The terms of trade, registered an increase of 29.2 per cent in third quarter, Q3 2022 compared to Q3 2021. This was mainly contributed by the growth of Chemicals index, followed by Food and Beverages. Total exports increased by 32.2 per cent which was due to a rise in the exports unit value index mainly contributed by Mineral Fuels, Food and Beverages. Rising prices of these commodities in the world market was the key driving force towards the increase in exports unit value index.

The exports volume index fell by 25.9 per cent compared to Q3 2021, contributed by the decline in the exports volume index of Crude Materials Inedible, Chemicals and Miscellaneous Manufactured Articles.

The total imports in Q3 2022 also increased by 23.3 per cent due to the rise in the import unit value index and the imports volume index. The rise in the imports unit value index was mainly contributed by Mineral Fuels, Vegetables Oils and Fats and Manufactured Goods. Meanwhile, the increase in the imports volume index was attributed by an increase in the imports volume index of Food, Crude Materials Inedible and Manufactured Goods. International Merchandise Trade Index, IMTI measures the changes of unit value and volume of import and export commodities in Brunei Darussalam within a specific period of time.

The full report of IMTI for third quarter 2022 can be obtained through the website at ‘deps.mofe.gov.bn’.

Source: Radio Television Brunei