Brunei records 41.1-pct trade growth in November last year-Xinhua

Brunei records 41.1-pct trade growth in November last year

Source: Xinhua| 2023-02-10 23:28:45|Editor: huaxia

BANDAR SERI BEGAWAN, Feb. 10 (Xinhua) -- Brunei recorded 2,856.8 million Brunei dollars (2,152.0 million U.S. dollars) total trade for November 2022, a 41.1-percent year-on-year increase contributed by a rise in both export and import value.

The latest International Merchandise Trade Statistics released on Friday by the Department of Economic Planning and Statistics at the Ministry of Finance and Economy showed that Brunei's exports in November last year jumped 31.0 percent yearly to 1,689.6 million Brunei dollars, which was mainly due to the rise in mineral fuel exports.

Imports grew from 735.4 million Brunei dollars in November 2021 to 1,167.2 million Brunei dollars in November 2022, mainly due to an increase in imports of mineral fuels particularly crude oil as a production input for the downstream petrochemical industry.

The highest share of exports in November 2022 went to Australia (27.8 percent), followed by Malaysia (16.2 percent) and China (15.4 percent). The largest export commodity to China was chemicals, whereas to Australia and Malaysia was mineral fuels.

The biggest import partner was Malaysia (22.1 percent), followed by United Arab Emirates (15.0 percent) and Qatar (12.1 percent), with mineral fuels as the largest import commodity. (1 Brunei dollar equals 0.75 U.S. dollars).