Brunei records over 230 mln USD trade deficit in July

0 Comment(s)Print E-mail Xinhua, October 15, 2020
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BANDAR SERI BEGAWAN, Oct. 15 (Xinhua) -- Brunei recorded a 313.7 million Brunei dollars (230.5 million U.S. dollars) trade deficit for July as a result of a major decline in export while a jump in import, showed data issued Thursday by the Ministry of Finance and Economy.

The result marked an extension of the country's first trade deficit since 2014, which was reported in June. It was also compared to a surplus of 251.8 million Brunei dollars in July 2019, representing a 224.5 percent year-on-year gap.

The situation was largely blamed on a 24.2 percent year-on-year drop in export, down to 508.5 million Brunei dollars from 670.8 million Brunei dollars. The import in July totaled 822.2 million Brunei dollars, up from 419 million Brunei dollars a year earlier.

Mineral Fuels contributed 81.5 percent of the July export with 414.6 million Brunei dollars. The major markets were Japan accounting for 22.6 percent, followed by Singapore with 19.1 percent, Malaysia, 17.1 percent and China, 15.5 percent.

The country in July imported most from Malaysia with 20.8 percent, followed by the United Arab Emirates with 11.0 percent, Nigeria, 10.2 percent and Singapore, 10.0 percent. (1 Brunei dollar equals to about 0.73 U.S. dollar) Enditem

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