Brunei records 41.2 per cent total trade drop in May

BANDAR SERI BEGAWAN (Xinhua): Brunei recorded 1,745.8 million Brunei dollars (US$1.29 billion) total trade in May 2023, a 41.2 per cent year-on-year decrease due to a drop in both export and import value.

The latest International Merchandise Trade Statistics released on Sunday by the Department of Economic Planning and Statistics at the Ministry of Finance and Economy showed that Brunei's exports in May decreased by 42.3 percent yearly to 1,078.5 million Brunei dollars, which was mainly due to a drop in exports of mineral fuels and chemicals.

Imports decreased by 39.2 percent to 667.3 million Brunei dollars in May 2023.

The highest share of exports in May went to China (22.7 percent), followed by Australia (20.6 percent), Singapore (15.1 percent) and Japan (14.8 percent).

The biggest import partner was the United Arab Emirates accounting for 21.6 percent, followed by China (16.9 percent), Qatar (16.8 percent), and Malaysia (16.3 percent). (1 Brunei dollar equals about 0.74 U.S. dollars) - Xinhua