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Brunei's trade at a slight downturn
Publication Date : 09-09-2013
Total trade and trade balance on Brunei's major exports suffered a slight decrease in June this year to the tune of 10.1 per cent to US$1.46 million with trade balance decreased 5.9 per cent month-on-month to $18 million.
According to a press release issued by the Department of Economic Planning and Development (JPKE), the Sultanate's major exports of crude oil and liquefied natural gas (LNG) saw a sharp fall in June compared to previous month.
"The decline in the overall exports was due to decrease in the major exports of crude oil by 4.7 per cent and LNG 13.3 per cent," it said.
International Merchandise Trade Statistics (IMTS) found that total trade and trade balance too decreased for the month of June 2013.
The Department stated that the total trade fell 10.1 per cent to $1.46 million, comprising of $1.09 million in exports and $375 million in imports. Whereas the trade balance decreased 5.9 per cent month-on-month to $718 million.
A decrease was also seen for both merchandise exports and imports.
"The decrease of merchandise exports by 8.8 per cent to BND 1,093 million was due to the decline of chemicals by 70.4 per cent and crude materials inedible by 66.7 per cent," it said.
Meanwhile, merchandise imports decreased by 13.8 per cent to $375 million from $435 million last month, was due to the decreases in imports for mineral fuels by 56.7 per cent, miscellaneous transactions by 21.4 per cent and machinery and transport equipment by 17.9 per cent.
Japan was found to be the highest exporter with 46.4 per cent, followed by Republic of Korea with 20.6 per cent and Thailand with 8.4 per cent. Meanwhile, Malaysia was the highest importer with 25.7 per cent, followed by Singapore by 19.4 per cent and China by 11.8 per cent.
"The International Merchandise Trade Statistics (IMTS) for Brunei Darussalam adopts the General System for recording trade statistics which cover imports, domestic exports and re-exports," it said.
The IMTS full report for June 2013 is available from JPKE's website www.depd.gov.bn.