The trade surplus in Brunei narrowed to BND 39.0 million in June 2019 from BND 155.1 in the same month the prior year. This was the smallest trade surplus since July 2015, as imports rose 9.8 percent, mostly led by mineral fuels (919.4 percent) and chemicals (75.6 percent). Main import partners were Kazakhstan, Iraq, Singapore, Malaysia, and China. Meanwhile, exports dropped 9 percent, as sales of mineral fuels fell 15.5 percent, namely crude oil (-7.9 percent) and LNG (-22.5 percent). Japan was the largest export partner, followed by Singapore, Australia, Thailand and the Philippines. Considering January to June, the trade surplus widened to BND 1.82 billion from BND 1.70 billion in the same period of 2018, as exports grew 11 percent and imports rose at a faster 13.8 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 34.10 BND Million in July of 2015.
Balance of Trade in Brunei is expected to be 105.00 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 229.70 in 12 months time. In the long-term, the Brunei Balance of Trade is projected to trend around 140.65 BND Million in 2020, according to our econometric models.