Trade Trend

In 2023, Brunei's total export value is 11.32Billion USD, total import value is 6.36Billion USD, Surplus is 4.95Billion USD, and foreign trade dependency is 1.169. In 2023，Brunei's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(3.54Billion USD), Petroleum gases and other gaseous hydrocarbons(3.44Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(1.78Billion USD), top export destinations are Australia(2.28Billion USD), China(1.95Billion USD), Japan(1.88Billion USD). In 2023, Brunei's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(2.25Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(727.26Million USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(400.19Million USD), top import origins are Malaysia(1.42Billion USD), China(882.60Million USD), United Kingdom(782.18Million USD).

Comparing to 2022, Brunei's total export value decreased -2.92Billion USD(-20.50%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-1.62Billion USD or -31.39%), Petroleum gases and other gaseous hydrocarbons(-565.27Million USD or -14.11%), Petroleum oils and oils obtained from bituminous minerals; crude(-387.53Million USD or -17.85%) and export decreases to countries/economics such as Malaysia(-770.63Million USD or -53.66%), Australia(-649.73Million USD or -22.18%), Japan(-596.83Million USD or -24.07%). Comparing to 2022, Brunei's total import value decreased -2.81Billion USD(-30.62%) in 2023, this could result from its import decreases of products such as Petroleum oils and oils obtained from bituminous minerals; crude(-3.18Billion USD or -58.56%), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-195.66Million USD or -32.84%), Aircraft; parts of heading no. 8801 or 8802(-136.56Million USD or -94.46%), and its import decreases from countries/economies such as Malaysia(-783.81Million USD or -35.64%), United Arab Emirates(-695.26Million USD or -62.73%), Qatar(-431.17Million USD or -77.69%).

Cumulated to first 7 months of 2024, Brunei's total export value is 4.77Billion USD, total import value is 1.76Billion USD, and tradesurplus is 3.01Billion USD. Cumulated to first 7 months of 2024, Brunei's top export products are Petroleum gases and other gaseous hydrocarbons(1.42Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(1.38Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(878.30Million USD), and top export destinations are Australia(1.27Billion USD), China(912.36Million USD), Japan(763.05Million USD). Cumulated to first 7 months of 2024, Brunei's top import products are Petroleum gases and other gaseous hydrocarbons(1.42Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(1.38Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(878.30Million USD), and top import origins areMalaysia(419.71Million USD), China(376.99Million USD), Australia(260.06Million USD).