Brunei’s crude oil exports go up in October: JPKE

File photo of one of the main crude oil pipelines transporting the oil to be filtered before it goes to the main crude oil tank in Seria. Picture: BT

BANDAR SERI BEGAWAN

BRUNEI’s export of crude oil in October increased by 35.9 per cent month on month, data from the Department of Economic Planning and Development (JPKE) show.

Exports of liquified natural gas (LNG) also improved by 8.1 per cent from the previous month.

These contributed to total merchandise exports for October 2013 35.9 per cent to $1,008.7 million, the department said in a press statement yesterday.

The country’s total trade in October amounted $1,349.7 million, comprising exports at $1,008.7 million and imports at $341 million.

The total trade figure shows a 24.6 per cent increase from the previous month.

Brunei’s trade balance stood at $667.7 million, up by 66.5 per cent month on month.

Japan bought the bulk of Brunei exports at 29 per cent, followed by Indonesia 15.1 per cent, Singapore 13.9 per cent and South Korea 8.4 per cent.

Merchandise imports for October 2013, however, decreased by 0.1 per cent to $341 million from $341.2 million in September 2013.

“The commodities that registered decreases in imports were Miscellaneous Transactions by 32.4 per cent, Beverages and Tobacco 23.1 per cent, Miscellaneous Manufactured Articles 18 per cent, Manufactured Goods 13.4 per cent, Mineral Fuels 7.3 per cent and Crude Materials Inedible 1.8 per cent,” the statement read.

The bulk of imports came from Singapore with 20.8 per cent, followed by Malaysia 19.6 per cent, USA 12.5 per cent and China 10.2 per cent.

The International Merchandise Trade Statistics (IMTS) for Brunei Darussalam adopts the General System for recording trade statistics which covers imports, domestic exports and re-exports.

Data is sourced from information gathered by the Royal Customs and Excise Department, Ministry of Finance, through customs declarations.

The Brunei Times