Home Economy Brunei Records Trade Surplus in November 2023

Brunei Records Trade Surplus in November 2023

BANDAR SERI BEGAWAN — Brunei Darussalam experienced a notable trade surplus of $406.9 million in November 2023, as reported by the Department of Economic Planning and Statistics (JPES) under the Ministry of Finance and Economy. The total trade for the month amounted to $2,292.3 million, a decrease from $3,007.2 million recorded in October 2023. This financial performance was driven by exports totaling $1,349.6 million and imports at $942.7 million.

According to Radio Television Brunei, the primary contributors to Brunei's export revenue were Mineral Fuels, Chemicals, and Machinery and Transport Equipment. The country's main export destinations included Australia, Singapore, and the People's Republic of China, with Mineral Fuels and Chemicals being the largest export commodities. On the import side, the top commodities were Mineral Fuels, followed by Machinery and Transport Equipment, Food, Manufactured Goods, and Miscellaneous Manufactured Articles. Malaysia, Kazakhstan, and Qatar emerged as the leading import partners, with Mineral Fuels as the predominant import commodity. The report further indicated that 93.7 percent of trade by value was conducted via sea transport, with air and land transport accounting for 5 percent and 1.3 percent, respectively.

The International Merchandise Trade Statistics report for November 2023 provides comprehensive details and is accessible on the department's official website.