Fri, 22 Sep 2023

Brunei's trade balance drops 42.2 pct in February

24 May 2023, 02:05 GMT+10

BANDAR SERI BEGAWAN, May 23 (Xinhua) -- Brunei recorded a 374.2 million Brunei dollar (about 278 million U.S. dollar) trade balance for February, a 42.2 percent year on year decrease due to a drop in export and a rise in import value.

The latest International Merchandise Trade Statistics released on Tuesday by the Department of Economic Planning and Statistics under the Ministry of Finance and Economy showed that Brunei's exports in February decreased by 12.2 percent year on year to 1,265.8 million Brunei dollars, largely due to a drop in mineral fuels exports.

Imports increased from 794.9 million Brunei dollars in February 2022 to 891.6 million Brunei dollars, mainly due to a rise in the import of mineral fuels.

The highest share of exports in February went to Japan with 29.1 percent, followed by Australia with 19.2 percent, Singapore with 13.4 percent and China with 11.6 percent.

The biggest import partner was the United Arab Emirates, followed by Malaysia and China, with mineral fuels being the largest import item. (1 Brunei dollar equals about 0.74 U.S. dollar)

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