​03 April 2024

The exports volume index in the fourth quarter (Q4) 2023 rose by 11.3 per cent contributed by a rise index of Mineral Fuels (12.2 per cent), and Chemicals (0.3 per cent).

The exports unit value index recorded a decrease of 16.0 per cent in Q4 2023 compared to the previous year, resulting a decline in exports value from BND4,537.1 million to BND4,457.4 million. The decrease in exports unit value index was mainly driven by Manufactured Goods (28.4 per cent), Mineral Fuels (16.5 per cent) and Crude Materials Inedible (8.5 per cent). 

The imports unit value index recorded a decrease of 5.5 per cent compared to the previous year, resulting in a fall in imports value from BND3,237.2 million to BND2,972.7 million. This decrease was contributed by Mineral Fuels (10.3 per cent), Chemicals (9.9 per cent) and Machinery and Transport Equipment (8.2 per cent). 

The imports volume index in Q4 2023 rose by 4.1 per cent due to an increase of Machinery and Transport Equipment (13.3 per cent), Manufactured Goods (13.2 per cent) and Chemicals (11.8 per cent).

The terms of trade registered a decrease of 11.1 per cent in Q4 2023, contributed by Manufactured Goods (24.7 per cent), Mineral Fuels (6.8 per cent) and Beverages (6.8 per cent). 

For 2023, total exports value decreased due to a fall in both export unit value index (22.1 per cent) and exports volume index (2.8 per cent). The decrease in exports volume was contributed by Food, Manufactured Goods, and Mineral Fuels. Whereas the decrease in total imports value was due to a decrease in unit value index (8.6 per cent) while imports volume index rose (0.1 per cent). 

International Merchandise Trade Index (IMTI) measures the changes of unit value and volume of import and export commodities in Brunei Darussalam within a specific period of time. The index can be useful in the analysis of competitiveness in the global market, measurement and forecasting of inflation and compilation of national accounts. The full report of IMTI Q4 2023 and Annual 2023 is available from DEPS’s website at https://deps.mofe.gov.bn/

Full Report: International Merchandise Trade Index Fourth Quarter (Q4) and Annual 2023 Full Report​