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Brunei's ICT exports soar 270% over 6 years
Publication Date : 17-02-2014
Brunei's export of info-communications technology products almost quadrupled over six years between 2006 and 2012, a recent report from the United Nations Conference on Trade and Development (UNCTAD) shows.
According to the UNCTAD report released last week, the sultanate’s exports of ICT products soared 270 per cent during the period, to US$37 million in 2012, from $10 million million in 2006, the last time trade of ICT goods was reported by the country.
In terms of percentage of total merchandise exports, ICT products got a 0.28 per cent share in 2012, against 0.13 per cent in 2006.
The sultanate’s imports of ICT products also went up, by a more moderate rate of 44.11 per cent between 2006 and 2012, according to the UNCTAD report.
Brunei imported $147 million worth of the products in 2012. This is from $102 million in 2006.
ICT made up 4.12 per cent of the total merchandise imports in 2012, lower than its 6.06 per cent share in 2006.
The data did not include a breakdown of what kind of goods were imported or exported.
UNCTAD broadly classfies ICT goods into computer and peripheral equipment, communication equipment, consumer electronic equipment, electronic components and ‘miscellaneous’.
Among Asean neighbours, Brunei’s trade in ICT goods was comparatively small, especially against major ICT industry players such as Singapore.
Singapore was the fifth largest ICT goods importer globally, with imports valued at $89 billion, and fourth largest exporter, with almost $116 billion.
Malaysia, ranked 12th ICT goods importer, saw $45 billion in imports. It was the eighth ICT goods exporter, with ICT products sold valued at $63 billion.
Thailand, with ICT exports of nearly $37 billion, took the 12th sport. It imported $29 billion worth of ICT goods for the period.
The Philippines was also in the top 20 list of ICT goods exporter, ranked 17th with $15 billion worth of exports.
The Philippines, according to 2012 data, imported about $16 billion of ICT goods.
Indonesia imported over $13 billion worth of ICT goods in 2012 and exports of around $7 billion at the same time.
Cambodia exported $14 million in ICT goods in 2012 and imported $118 million.
Figures from other economies in the region are either unreported or not available for 2012.
UNCTAD said world imports of information and communications technology goods stood at $2 trillion in 2012, from $1.8 trillion in 2011.
Global exports were at $1.8 trillion in 2012, the report added.