ASEAN KEY DESTINATIONS
Brunei exports fall 41.1% in September
BRUNEI’S exports in September declined 41.1 percent on year to $698.2 million on back of a sharp decline in oil exports, the Department of Economic Planning and Development (JPKE) reported the day before yesterday.
The latest International Merchandise Trade Statistics issued by JPKE reported oil and gas revenues, which accounted for over 90 per cent of the country’s total exports, decreased by 20.7 per cent.
Crude oil exports fell by 40.7 per cent to $235 million in September as export prices went down by 52.4 per cent from US$100.91/barrel to US$48.03/bbl. This, even if export volume increased from 103.82 thousand barrels per day in September 2014 to 115.55 kbbl per day in September 2015.
Liquefied Natural Gas (LNG) exports declined 2.1 per cent to $417.3 million owing to lower prices. LNG prices decreased by 46.6 per cent to US$9.48 per million metric British thermal unit. Trade volume, however, rose by 63.8 per cent to 1.03 million MMBtu per day
Other export products like food, beverages and chemicals likewise declined in September.
Japan had the lion's share of Brunei's exports with 34.2 per cent, followed by Taiwan (14 per cent), South Korea (13.5 per cent) and Thailand (8.8 per cent).
Total imports decreased by 6.5 per cent on year to $444.6 million owing to lower imports of mineral fuels which declined by 67.5 per cent. This was followed by miscellaneous manufactured articles (45.7 per cent) and miscellaneous transaction (32 per cent).
Most of Brunei's imports came from the US, which accounted for 33.2 per cent of total imports.
This was followed by Malaysia (18.2 per cent), Singapore (12.7 per cent) and China (7.3 per cent).
Total trade in September decreased by 31.2 per cent from $1.66 billion in 2014 to this year’s $1.14 billion.
Trade balance in September 2015 narrowed to $253.6 million, down 64.3 per cent from last year’s $710.5 million.
The IMTS adopts the General System for recording trade statistics which cover imports, domestic exports and re-exports. The IMTS full report for September 2015 is available in JPKE's website at www.depd.gov.bn. –Fitri Shahminan -The Brunei Times
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