Brunei Import Export Data and Analysis

The region of South East Asia is as diverse as it is culturally complex. Centuries of colonial rule combined with deep-rooted local cultures present a wondrous land for all to explore. Brunei is a nation that perfectly exemplifies the distinctness of South East Asia.

Brunei was under British rule until 1984. Since then, the discovery of oil reserves has catapulted Brunei’s economy into being one of the highest per capita income nations in Asia. Brunei’s import-export operations are centred around the capital city of Bandar Seri Begawan. The nation is a part of the Commonwealth of Nations and ASEAN. Malaysia is the only country that shares a border with Brunei.

Brunei Exports Oil; Imports About Everything Else

Hydrocarbon resources (oil, petroleum and natural gas) exports account for about half of Brunei’s income. The government has induced policy changes to diversify the economy. An unhealthy dependence on one commodity makes Brunei vulnerable to fluctuations in global oil prices. But Brunei is not the most agriculturally well endowed. Most of Brunei’s land is infertile and unfit for agriculture. However, government programs have targeted the improvement of agricultural production. Earlier, Brunei was wholly reliant on imports of fish, dairy, rice and vegetables. Now, it is nearly self-sufficient for dairy, vegetables and fish.

Time and again, the government has called upon Bruneian businesses to empower other industries and help in diversification efforts. This will require years of infrastructural development and investment. Due to its untouched rainforests, tourism can be a potential source of income for the Bruneian people.

Brunei Exports Analysis

Brunei’s exports are derived after a careful study of port data, government declarations and local sources. Experts at The Trade Vision leverage extensive resources to monitor each shipment that flows in and out of Brunei.

Brunei’s economy is heavily dependent upon its reserves of oil and natural gas. The revenue earned from the export of oil and other hydrocarbons has consolidated Brunei’s economy. Most trade happens with other large economies in the Asia-Pacific region.

Brunei’s Top Export Commodities
1. Petroleum Gas ($2.38 billion),
2. Refined Petroleum ($1.78 billion),
3. Crude Petroleum ($1.47 billion),
4. Cyclic Hydrocarbons ($959 million)
5. Coal Tar Oil ($163 million)      

Brunei’s Leading Export Nation
1. Japan ($1.6 billion),
2. China ($1.23 billion),
3. Singapore ($1.13 billion),
4. Australia ($839 million)
5. Malaysia ($487 million)

Contact The Trade Vision to access an exhaustive list of Brunei’s export data, complete with shipment details, size and frequency.

Brunei Import Analysis

When considered in value terms, top imports arrive in Brunei for use as raw materials for the massive oil processing industry. Since manufacturing is limited in the nation, cars are also among the top imported items. Agricultural imports are also necessitated by Brunei’s limited farmland. Rice, bread, milk and animal feed are among the top agricultural imports.

Brunei’s Top Import Commodities
1. Crude Petroleum ($1.31 billion)
2. Refined Petroleum ($343 million)
3. Cars ($248 million)
4. Valves ($149 million)
5. Gas Turbines ($131 million)

Brunei’s Leading Import Nations
1. Singapore ($843 million)
2. Malaysia ($809 million)
3. China ($542 million)
4. Kazakhstan ($346 million)
5. United Kingdom ($221 million)

For exporters wishing to trade in Brunei, it is imperative to track the merchandise flows and shipment sizes. Agricultural traders must look to fill Brunei’s increasing demand for foodstuffs. The Trade Vision gives you access to vast repositories of the latest Brunei Import Data.

Brunei’s Youth: The Way Forward

The nation has a young and vibrant population that is ready to help the government in its beyond oil strategy. Tourism can be one of the key sectors to employ young people and diversify the economy. There is also the possibility of starting a financial sector along the lines of neighbours Singapore and Malaysia.

The Trade Vision is an international trade research company. We provide you with actionable analytics that steer clear of the noise. Contact us now at mywishplan@thetradevision.com or call +1(307)7573116, to get started.

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