Brunei Darussalam total trade increase by 41.1 percent in 2022 compared to 2021, contributed by a rise in both export and import value between this period. Compared to October 2022, total trade grew by 15.3 percent due to an increase in exports, mainly Mineral Fuels.

The Department of Economic Planning and Statistics, Ministry of Finance and Economy in its media statement shared that total exports increased by 31 percent mainly due to the increase in Mineral Fuels. The increase in Mineral Fuels exports was mainly due to the higher export value of Crude Oil, Liquefied Natural Gas, LNG and Petroleum Products.

In terms of commodity, Mineral Fuels represented the major contributor to Brunei Darussalam's exports at 78.9 per cent, followed by Chemicals and Machinery and Transport Equipment. The main exports market in November 2022 was Australia, followed by Malaysia, and People's Republic of China. The largest export commodity to Australia and Malaysia was Mineral Fuels, whereas to People's Republic of China was Chemicals.

Total value of imports increased mainly due to an increase in imports of Mineral Fuels particularly crude oil as a production input for the downstream petrochemical industry. The five main imports by commodity for November 2022 were Mineral Fuels, followed by Machinery and Transport Equipment, Food, Chemicals, and Manufactured Goods.

The biggest import partner were Malaysia, followed by United Arab Emirates and Qatar, with Mineral Fuels as the largest import commodity. Transport by sea accounted for the highest share for both exports and imports, which amounted to 91 per cent, followed by air transport and via land.

The International Merchandise Trade Statistics report for November 2022 can be accessed through the DEPS's website at deps.mofe.gov.bn.

Source: Radio Television Brunei