BANDAR SERI BEGAWAN, Aug. 13 (Xinhua) -- Brunei recorded a 193.9 percent year-on-year rise in trade surplus for May 2020 due to a major decrease in imports and an increase in exports.
Brunei's trade balance for May 2020 increased to 427.6 million Brunei dollars (311.7 million U.S. dollars) from 145.5 million Brunei dollars in May 2019, according to the latest International Merchandise Trade Statistics released on Thursday by the Department of Economic Planning and Development (DEPD) at the Ministry of Finance and Economy.
This was largely due to a decrease in imports valued at 437.6 million Brunei dollars from 572.6 million Brunei dollars, an 23.6 percent year-on-year drop. Exports increased in the time frame to 865.2 million Brunei dollars from 718.1 million Brunei dollars.
Mineral Fuels recorded the highest contribution of total exports (70.9 percent) with a value of 613.2 million Brunei dollars.
The highest share of exports in May 2020 went to China (36.2 percent), followed by Japan (20.3 percent) and Singapore (17.4 percent).
The highest share of imports in May 2020 came from Malaysia accounting for 26.5 percent, followed by Singapore (12.0 percent) and China (12.0 percent). Enditem
