The country's International Merchandise Trade Statistics, IMTS, in February 2018 increased to 971.7 million dollar compared to 922.9 million dollars in February last year, representing an increase of 5.3 per cent year-on-year. Meanwhile, the trade surplus fell by 13.7 per cent year-on-year, from 376.9 million dollar to 325.3 million dollars.
The Department of Economic Planning and Development, in a media release stated that exports decreased by 0.2 per cent year-on-year to 648.5 million dollars from 649.9 million dollars. This was mainly due to the fall in Crude Oil exports by 9.9 per cent year-on-year as a result of a 17.9 per cent year-on-year decrease in the export volume, which was moderated by the increase in the average price of Crude Oil by 17.6 per cent. Imports of goods increased by 18.4 per cent year-on-year from 273 million dollars in February 2017 to 323.2 million dollars in February 2018. Meanwhile, the main contributors to imports were Manufactured Goods (33.2 per cent), Machinery and Transport Equipment (32.2 per cent) and Food (13.6 per cent).
In February 2018, the biggest export market was Japan with 47.9 per cent of total exports, followed by the Republic of Korea (18.8 per cent), Malaysia (10.8 per cent) and others. In terms of imports by country of origin, the highest share came from China with 35.3 per cent, followed by Singapore (15.1 per cent), Malaysia (14.5 per cent) and others. The International Merchandise Trade Statistics (IMTS) for Brunei Darussalam adopts the General System for recording trade statistics, which cover imports, domestic exports, and re-exports. The IMTS full report for February 2018 is available from the department's website at 'www.depd.gov.bn'.
Source: Radio Television Brunei