ASEAN KEY DESTINATIONS
Trade down 17.3% on exports slide
Brunei: TOTAL trade for the month of July fell 17.3 per cent as as exports of chemicals, crude materials inedible, mineral fuels, manufactured goods and transport equipment went down, data from the Department of Economic Planning and Development (JPKE) show.
Total trade for the period dropped to $1.58 billion from $1.91 billion, as exports for the period fell 23.8 per cent to $1.153 billion from $1.513 billion in the same month last year and imports rose 6.8 per cent to $433.7 million from $406 million in July 2012.
Balance of trade also tumbled 35 per cent, to $719.6 million from $1.107 billion in the same month last year.
JPKE data show that exports of chemicals recorded the highest fall, at 78 per cent, from $27.7 million to $6.1 million, followed by crude materials inedible with a 55.2 per cent slump from $2.9 million to $1.3 million.
Exports of machinery and transport also fell by 37.7 per cent to $11.9 million from $19.1 million while mineral fuels decreased by 22.8 per cent from $1.44 billion to $1.11 billion.
The sale of manufactured goods from the sultanate to trade partners also decreased 22.6 per cent from the $5.3 million recorded in July last year.
Compared to June, however, exports posted slight increases, with merchandise exports up 5.5 per cent to $1.15 million from $1.09 million.
Exports of crude materials inedible for the period rose by 225 per cent from $0.4 million to $1.3 million, while exports of chemicals went up 190.5 per cent from $2.1 million to $6.1 million.
Miscellaneous transactions also registered an increase of 78.3 per cent from $2.3 million to $4.1 million.
Food exports went down 76 per cent from the $2.5 million recorded in June while manufactured goods decreased by 60.6 per cent to $4.1 million from $10.4 million, JPKE said.
Japan was the biggest market for the country's exports, getting 41.3 per cent of the pie, with Korea, at 16.7 per cent, Australia with 10.9 per cent and India with 10.4 per cent rounding up the top four export markets of the the sultanate.
Meanwhile, miscellaneous transactions, miscellaneous manufactured articles and machinery and equipment buoyed imports in July with rises of 56.3 per cent, 30.2 per cent, and 28.3 per cent respectively, from the same month the previous year.
Month on month, imports increased 15.7 per cent in July from $375 million in June, with machinery and transport equipment, animal and vegetable oils and fats, and mineral fuels contributing to the rise.
Brunei's spending on imported machinery and transport equipment rose 52.4 per cent in July from June, to $169.8 million from $111.4 million the previous month.
Imports of animal and vegetable oils and fats increased by 45.5 per cent month-on-month from $1.1 million to $1.6 million, while mineral fuels recorded an increase of 35.8 per cent with $40.2 million spent in July compared to $29.6 million in June.
Imports of beverages and tobacco recorded a month-on-month increase of 5.9 per cent from $6.8 million to $7.2 million, but has seen a steady year-on-year decline of 6.5 per cent from the $7.7 million posted in June 2012.
Foods imported in July this year amounted $61.3 million, a 15.9 per cent increase from the $52.9 million posted in June. However, year-on-year, imports of food dropped by 5.1 per cent from the $64.6 million recorded in June last year.
Chemicals decreased by 48.2 per cent month-on-month to $26.1 million from $50.4 million but slid by 13 per cent year-on-year from the $30 million posted in July 2012.
Meanwhile manufactured goods slipped 4.3 per cent from $80 million in June to $76.6 million in July and also slid by 20 per cent compared to the $95.8 posted in July last year.
"The highest share of imports was from Singapore with 20.3 per cent of the total imports, followed by Malaysia (20.2 per cent), USA (18.9 per cent) and China (11.9 per cent)," said JPKE.
The IMTS adopts the General System for recording trade statistics which cover imports, domestic exports and re-exports.
Data is sourced from information gathered by the Royal Customs and Excise Department, Ministry of Finance, through customs declarations. The Brunei Times
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