Brunei records 39.1-per cent trade balance drop in March

BANDAR SERI BEGAWAN (Xinhua): Brunei recorded 526.2 million Brunei dollars (US$398.2 million) trade balance for March 2023, a 39.1 per cent year-on-year decrease due to a drop in both export and import value.

The latest International Merchandise Trade Statistics released on Tuesday by the Ministry of Finance and Economy showed that Brunei's exports in March decreased by 39.7 percent yearly to B$1,004.2 million, which was mainly due to the drop in mineral fuels exports and chemicals.

Imports also decreased from B$800.2 million in March 2022 to 478.0 million Brunei dollars in March 2023.

The highest share of exports in March 2023 went to Singapore (18.8 per cent), followed by Japan (18.7 per cent), Australia (12.1 per cent) and Thailand (10.6 per cent).

The biggest import partner was Belgium, accounting for 33.5 per cent, followed by Malaysia (18.8 per cent), Singapore (10.8 per cent) and China (8.9 per cent).