International Merchandise Trade Grows Significantly in May 2024
BRUNEI DARUSSALAM — International trade in Brunei Darussalam showed robust growth in May 2024, with total trade expanding by 37.4% to $2,393.6 million, compared to the same month last year.
According to Radio Television Brunei, exports drove much of this growth, totaling $1,382.1 million, while imports were valued at $1,011.5 million. The main contributors to the increase in export value were Mineral Fuels, Chemicals, and Machinery and Transport Equipment, with Australia, the People’s Republic of China, and Singapore being the top export destinations. Mineral Fuels were also the largest export commodity to these countries.
On the import side, the leading commodities were Mineral Fuels, followed by Machinery and Transport Equipment, and Food. The overall trade balance, however, fell by 9.7% due to a higher increase in imports, which surged by 52% compared to a 28.4% rise in exports. The bulk of imports were categorized as Intermediate Goods used for processing, Capital Goods for business operations, and Consumption Goods for household use.
The complete International Merchandise Trade Statistics report for May 2024 is available on the DEPS’s website at ‘deps.mofe.gov.bn’.