The trade surplus in Brunei narrowed 31.3 percent to BND 251.8 million in July 2019 from BND 366.7 in the same month the prior year. Exports plunged 20.2 percent year-on-year to BND 670.8 million, with sales of mineral fuels tumbling 20.9 percent, namely crude oil (-26.2 percent) and LNG (-16.5 percent). Japan was the largest export partner, followed by Malaysia, India and Singapore. Meanwhile, imports declined at a slower 11.7 percent to BND 419 million, mostly led by machinery and transport equipment (-9.6 percent) and manufactured goods (-57 percent). Main import partners were Singapore, Malaysia, and China. Considering January to July, the trade surplus came in at BND 2.07 billion, almost unchanged from the same period of 2018, as exports grew 5.7 percent and imports rose at a faster 9.7 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.