By Salawati Haji Yahya –
BANDAR SERI BEGAWAN, SEPT 26 – An increase of 10.3 percent in the export volume index was recorded in the second quarter (Q2) of 2024 compared to the previous year, and this led to an increase in the total value of exports from $2,711.8 million to $3,802.9 million.
The Department of Economic Planning and Statistics (JPES) in a press release issued today on the International Merchandise Trade Index (IMTI) for the Second Quarter of 2024 also shared that the increase in the export volume index was contributed by the increase in the index of chemicals (40.5 percent), fossil fuels (11 percent) ) and manufactured goods (1.2 percent).
The export unit value index recorded an increase of 29.5 percent, mainly due to the increase in the index of fossil fuels (30.5 percent), manufactured goods (7.3 percent) and transport machinery and equipment (7.1 percent).
While the import unit value index recorded an increase of 1.1 percent compared to the previous year, and caused an increase in the total import value from $2,323 million to $2,662.9 million.
This was contributed by an increase in fossil fuels (10.1 percent), various manufactured goods (7.7 percent) and chemicals (6.7 percent).
While the import volume index in Q2 2024 also increased by 1 percent due to an increase in fossil fuels which was 32.1 percent, chemicals (16.3 percent) and factory goods (11.6 percent).
IMTI shows the change in unit value and quantity of imported and exported commodities in Brunei Darussalam in a certain period, and this index is also useful for making a competitive global market analysis in measuring and forecasting inflation and compiling national accounts.
IMTI’s full report for Q2 2024 is available through the JPES website, https://deps.mofe.gov.bn.
