Brunei reported a trade deficit of BND 57.8 million in June 2020, compared to a surplus of BND 39 million in the same month a year earlier. This was the first trade gap on record, mainly due to a slump in exports as the COVID-19 crisis hit global demand. Year-on-year, overseas sales tumbled 15.3 percent to BND 537.4 million, led by mineral fuels (-24.9 percent), machinery and transport equipment (-77.2 percent), and manufactured goods (-94.8 percent). Meanwhile, imports were flat at BND 595.2 million, as domestic demand was sluggish. Purchases mainly rose for machinery and transport equipment (61.2 percent), manufactured goods (60.2 percent), and chemicals (48 percent), while plunged mostly for mineral fuels (-62.1 percent).
Balance of Trade in Brunei averaged 828 BND Million from 2005 until 2019, reaching an all time high of 2971.45 BND Million in September of 2008 and a record low of 57.80 BND Million in June of 2020. This page provides the latest reported value for - Brunei Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brunei Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.
Balance of Trade in Brunei is expected to be 180.00 BND Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Brunei to stand at 280.00 in 12 months time. In the long-term, the Brunei Balance of Trade is projected to trend around 140.65 BND Million in 2021 and 300.00 BND Million in 2022, according to our econometric models.