The entire trade of Brunei has increased by 60.9 percent

[ASEAN NOW Content Team]

 

In August 2021, Brunei Darussalam's overall commerce was worth BND2,227.4 million, up 60.9 percent from BND1,384.6 million in the same month the previous year.

Meanwhile, total commerce declined by 11.1 percent in August 2021 compared to July 2021, according to a news release from the Department of Economic Planning and Statistics (DEPS).

 

Total exports climbed by 135.7 percent year over year to BND1,463.5 million in August 2020, up from BND620.8 million the previous month.

Mineral fuels exports increased to BND1,153.3 million in August 2021 from BND505.0 million in August 2020, while chemical exports increased to BND290.3 million in August 2021 from BND102.1 million in August 2020. (August 2020).

The increase in mineral fuel exports was mostly owing to an increase in the value of crude oil, LNG, and petroleum product exports from downstream activities.

 

The increase in crude oil exports was attributed to a considerable increase in average price from USD46.99 per barrel in August 2020 to USD72.79 per barrel in August 2021, as well as an increase in total volume from 70.09 thousand barrels per day to 77.02 thousand barrels per day in August 2021. (August 2020).

The increase in LNG exports was due to a rise in the average price to USD9.92 per MMBtu (August 2021) from USD5.03 per MMBtu (August 2020), as well as a rise in total volume to 906,328 MMBtu per day (August 2021) from 752,055 MMBtu per day (August 2020). (August 2020).

 

Meanwhile, the value of downstream petroleum product exports climbed to BND540.6 million from BND206.5 million.

Mineral fuels were the most important contributor to Brunei Darussalam's exports (78.8%), followed by chemicals (19.8%), and machinery and transport equipment (13.8%). (0.5 per cent).

In August 2021, Japan (25.1%) was the most important export market, followed by China (19.6%) and Singapore (18.8 per cent).
Mineral fuels were the most common export to Japan and Singapore, while chemicals were the most common to China.

 

The total value of imports climbed to BND763.9 million (August 2021) from BND763.8 million (August 2020), owing to a rise in mineral fuel imports, which are mostly used as inputs in the production of petrochemical goods.

Mineral fuels accounted for 64.5 percent of total imports, followed by machinery and transport equipment (13.6 percent), food (6.6 percent), chemicals (5.4 percent), and manufactured products (5.4 percent) (5.1 per cent).

 

Intermediate products accounted for 58.4 percent of overall imports in the end-use category, followed by capital goods (37.3 percent) and consumption items (4.3 per cent).

Malaysia had the highest percentage of imports among trading partners (20.4%), followed by Saudi Arabia (17.9%) and Colombia (13.1%), with mineral fuels being the most common import commodity.

The method of transportation with the biggest proportion, BND2,139.2 million (96.0%), was followed by air transport (BND62.2 million or 2.8%) and ground transport (BND62.2 million or 2.8%). (BND25.9 million or 1.2 per cent).