Brunei records over 26-pct trade increase in August

Source: Xinhua| 2020-11-19 19:52:51|Editor: huaxia

BANDAR SERI BEGAWAN, Nov. 19 (Xinhua) -- Brunei recorded 1,384.6 million Brunei dollars (1,028.1 million U.S. dollars) total trade for August 2020 due to a major rise in imports.

The latest International Merchandise Trade Statistics released on Thursday by the Department of Economic Planning and Statistics at the Ministry of Finance and Economy showed that Brunei's exports droped 9.6 percent year-on-year to 620.8 million Brunei dollars, and imports increased 88.5 percent to 763.8 million Brunei dollars in August.

The trade balance recorded a deficit of 143.0 million Brunei dollars in August 2020 compared to a surplus of 281.4 million Brunei dollars in August 2019.

Mineral Fuels recorded the highest contribution of total exports (81.3 percent) with a value of 505.0 million Brunei dollars.

The highest share of exports in August 2020 went to Singapore (33.3 percent), followed by Japan (17.7 percent), Malaysia (16.6 percent) and China (8.0 percent).

The highest share of imports in August 2020 came from Britain (18.6 percent), followed by Malaysia (14.1 percent), Singapore (13.2 percent) and Qatar (8.5 percent). (1 Brunei dollar equals to about 0.74 U.S. dollar) Enditem