Brunei Darussalam’s International Merchandise Trade Index, IMTI for the second quarter 2022 shows that the total exports increased by 61.2 per cent compared to the second quarter of last year, which was from 3,261.9 million dollars to 5,258 million dollars. This increase was due to a rise in the exports unit value index by 63 per cent, which was contributed by Crude Materials Inedible, Mineral Fuels and Chemicals. Rising prices of these commodities in the world market was the key driving force towards the increase in exports unit value index for the second quarter of this year.
The exports volume index fell by 23 per cent compared to second quarter 2021, contributed by the decline in the exports volume index of Mineral Fuels, which consists of natural gas and manufactured; petroleum products and related materials.
The total imports in the second quarter 2022 also increased by 59.9 per cent compared to the second quarter 2021 due to the rise in the imports unit value index and the imports volume index. The rise in the imports unit value index was mainly contributed by Mineral Fuels, Chemicals and Animal and Vegetables Oils as well as Fats. The increase in the imports volume index was attributed by an increase in the imports volume index of Machinery and Transport Equipment, Miscellaneous Manufactured Articles and Food. While, the terms of trade registered an increase of 62.8 per cent in second quarter 2022 compared to second quarter of last year.
IMTI full report for the second quarter 2022 can be obtained through the JPES website.
Source: Radio Television Brunei