Total international trade in August this year increased to 1,241.3 million Brunei dollars compared to 967.7 million Brunei dollars in August 2017, representing an increase of 28.3 per cent year-on-year.
According to statistics by the Department of Economic Planning and Development, total exports increased by 42.1 per cent year-on-year to 762.2 million Brunei dollars in August 2018, compared to 536.2 million Brunei Dollars in August last year. This is due to increase in the total export of Crude Oil and Liquefied Natural Gas, LNG. Exports of Crude Oil rose by 54.2 per cent year-on-year due to an increase in export volume from 93.84 thousand barrels per day to 97.02 thousand barrels per day and an increase in the average price from 52.14 US dollars per barrel to 75 US dollars per barrel. Exports of Crude Oil rose by 54.2 per cent year-on-year due to an increase in export volume from 93.84 thousand barrels per day to 97.02 thousand barrels per day and an increase in the average price from 52 US dollars. Meanwhile, exports of LNG rose by 41.2 per cent year-on-year due to an increase in export volume from 791,751 MMBtu per day to 857,953 MMBtu per day and an increase in average price from 7.63 US dollars per MMBtu to 10.54 US dollars per MMBtu.
Meanwhile total imports of goods recorded an increase of 11 per cent year-on-year to 479.1 million Brunei dollars in August last year. The five main import commodities were Machinery and Transport Equipment followed by Manufactured Goods, Food, Mineral Fuels and Miscellaneous Manufactured Articles.
In August 2018, the biggest export markets were Japan with 44.6 per cent followed by Thailand 12.6 per cent and United States of America 9.2 per cent.
For imports by country of origin, the highest share came from China with 35.9 per cent, followed by Singapore, 15.7 per cent and United States of America, 14.1 per cent.
The IMTS full report for August 2018 is available from the DEPD website at 'www.depd.gov.bn'.
Source: Radio Television Brunei