Brunei Darussalam: Trade Profile

Foreign Trade in Figures

Brunei is highly dependent on exports (57,4% of GDP in 2020), and foreign trade represented over 147% of its GDP in 2021 (World Bank, 2023). The Sultanate's exports are dominated by the hydrocarbon sector, which benefits from a higher demand from New Zealand, South Korea and Australia. The same applies to the liquefied natural gas, which is exported especially to Japan (as a result of the problems related to the nuclear sector). The main products that Brunei imports are mineral fuels, food, vehicles, metals and machinery (Ministry of Finance and Economy, 2022).

Singapore is the main export partner of the country (20.9% of total exports in 2021), followed by China (20%), Japan (19%), Australia (13.7%), Malaysia (5.4%) and India with 4% of total exports (OEC, 2023). Exports from Brunei reached 11.3 billion USD.The main suppliers are Malaysia (20.3% of all imports), Singapore (10.7%), Saudi Arabia (10.3%) and China with 8.2% (OEC, 2023). Imports to Brunei reached 7.93 billion USD.

Brunei's trade surplus climbed to BND 704.2 million or USD 527 million in January 2023 from BND 338.3 million (USD 253.,6 million) in the same month a year earlier. It was the 24th straight month of gains and the largest amount since last July, with exports rising while imports fell. Sales jumped 20.8% in 12 months to BND 1,586.6 million, mainly due to higher shipments of mineral fuels (13.6% ) and chemicals (45.2%). The highest share of exports went to Japan, accounting for 26% of the total, followed by Australia (16.9%), Singapore (14.9%), China (10.2%), and Malaysia (8.6%). Meanwhile, imports shrank 9.5% to a 10-month low of BND 882.4 million, mainly weighed down by mineral fuels (-15.2%). The highest share of imports came from Malaysia (25.2% of the total), UAE (16.9%), China (14.2%), Qatar (12.1%), and Australia (8.6%). In 2022, the trade surplus soared to BND 6,432.9 million (USD 4822,4 million USD) from BND 4,412.1 million (USD 3307,3 millon) the year before, as exports grew by 36.7% while imports contracted 32.5% (Department of Economic Planning and Development, Brunei, 2022).

Brunei wishes to liberalise its trade further and has eliminated import duties on 99.6% of its tariff line with ASEAN (Economic Research Institute for ASEAN and East Asia). However, the country does not have a regulatory control agency, a fact which hinders the drafting of formal trade policies. The country is also part of the regional grouping Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area, which aims to increase the economic integration of these countries into a vibrant economy.

Foreign Trade Indicators	2017	2018	2019	2020	2021
Imports of Goods (million USD)	3,085	4,164	5,103	5,342	8,570
Exports of Goods (million USD)	5,571	6,574	7,039	6,608	11,037
Imports of Services (million USD)	1,220	1,546	1,777	1,177	902
Exports of Services (million USD)	533	551	599	333	205
Imports of Goods and Services (Annual % Change)	1	28	14	-2	29
Exports of Goods and Services (Annual % Change)	-3	3	15	8	9
Trade Balance (million USD)	2,403	2,365	2,211	1,359	2,679
Foreign Trade (in % of GDP)	85	94	109	110	147
Imports of Goods and Services (in % of GDP)	36	42	51	53	67
Exports of Goods and Services (in % of GDP)	50	52	58	57	80

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

Main Partner Countries

Main Customers (% of Exports)	2022
Australia	20.6%
Japan	17.4%
China	15.6%
Singapore	13.6%
Malaysia	10.1%
Indonesia	4.7%
Vietnam	4.1%
Thailand	3.3%
Philippines (the)	3.0%
India	2.1%
South Korea	1.8%
United States	0.9%
New Zealand	0.8%
Myanmar	0.4%
Brazil	0.3%
Chile	0.3%
Bangladesh	0.2%
United Kingdom	0.2%
Mexico	0.2%
Cambodia	0.1%
See More Countries	22.8%

Main Suppliers (% of Imports)	2022
Malaysia	24.0%
United Arab Emirates	12.2%
China	8.8%
Qatar	6.1%
Singapore	5.4%
Australia	4.7%
Saudi Arabia	4.3%
Kazakhstan	4.3%
Papua New Guinea	4.0%
United States	3.1%
Indonesia	3.0%
Russia	2.5%
Iraq	2.2%
Colombia	1.8%
Philippines (the)	1.6%
United Kingdom	1.2%
Japan	1.2%
Vietnam	1.1%
Norway	1.0%
Thailand	0.9%
See More Countries	43.5%

Source: Comtrade, Latest Available Data

Main Products

14.2 bn USD of products exported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	36.3%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons	28.2%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude	15.3%
Cyclic hydrocarbonsCyclic hydrocarbons	14.2%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg)	1.7%
Acyclic alcohols and their halogenated,...Acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives	1.3%
Oils and other products of the distillation of...Oils and other products of the distillation of high temperature coal tar; similar products in which the weight of the aromatic constituents exceeds that of the non-aromatic constituents	0.6%
Parts of aircraft and spacecraft of heading 8801...Parts of aircraft and spacecraft of heading 8801 or 8802, n.e.s.	0.4%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns", of iron or steel; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures, of iron or steel (excl. prefabricated buildings of heading 9406)	0.2%
Crustaceans, whether in shell or not, live, fresh,...Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, even smoked, incl. crustaceans in shell cooked by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption	0.2%
Acyclic hydrocarbonsAcyclic hydrocarbons	0.1%
See More Products	4.4%

9.2 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude	59.2%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	6.5%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702)	2.1%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal	2.0%
Parts of aircraft and spacecraft of heading 8801...Parts of aircraft and spacecraft of heading 8801 or 8802, n.e.s.	1.6%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)	1.2%
Ethers, ether-alcohols, ether-phenols,...Ethers, ether-alcohols, ether-phenols, ether-alcohol-phenols, alcohol peroxides, ether peroxide, ketone peroxides, whether or not chemically defined, and their halogenated, sulphonated, nitrated or nitrosated derivatives	1.0%
Turbojets, turbopropellers and other gas turbinesTurbojets, turbopropellers and other gas turbines	0.9%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s.	0.6%
Taps, cocks, valves and similar appliances for...Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, incl. pressure-reducing valves and thermostatically controlled valves; parts thereof	0.6%
Slag, ash and residues containing metals, arsenic...Slag, ash and residues containing metals, arsenic or their compounds (excl. those from the manufacture of iron or steel)	0.5%
Waters, incl. mineral waters and aerated waters,...Waters, incl. mineral waters and aerated waters, containing added sugar or other sweetening matter or flavoured, and other non-alcoholic beverages (excl. fruit or vegetable juices and milk)	0.5%
Diagnostic or laboratory reagents on a backing,...Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, and certified reference materials (excl. compound diagnostic reagents designed to be administered to the patient, blood-grouping reagents, animal blood prepared for therapeutic, prophylactic or diagnostic uses and vaccines, toxins, cultures of micro-organisms and similar products)	0.5%
Preparations of a kind used in animal feedingPreparations of a kind used in animal feeding	0.5%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528)	0.4%
Bread, pastry, cakes, biscuits and other bakers'...Bread, pastry, cakes, biscuits and other bakers' wares, whether or not containing cocoa; communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products	0.4%
Tubes, pipes and hollow profiles, seamless, of...Tubes, pipes and hollow profiles, seamless, of iron or steel (excl. products of cast iron)	0.4%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products	0.3%
Cyclic hydrocarbonsCyclic hydrocarbons	0.3%
Reaction initiators, reaction accelerators and...Reaction initiators, reaction accelerators and catalytic preparations, n.e.s. (excl. rubber accelerators)	0.3%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors	0.3%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated	0.3%
RiceRice	0.3%
Air conditioning machines comprising a...Air conditioning machines comprising a motor-driven fan and elements for changing the temperature and humidity, incl. those machines in which the humidity cannot be separately regulated; parts thereof	0.3%
Instruments and appliances used in medical,...Instruments and appliances used in medical, surgical, dental or veterinary sciences, incl. scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments, n.e.s.	0.2%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s.	0.2%
Boards, panels, consoles, desks, cabinets and...Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 8535 or 8536, for electric control or the distribution of electricity, incl. those incorporating instruments or apparatus of chapter 90, and numerical control apparatus (excl. switching apparatus for line telephony or line telegraphy)	0.2%
Spark-ignition reciprocating or rotary internal...Spark-ignition reciprocating or rotary internal combustion piston engine	0.2%
Furniture and parts thereof, n.e.s. (excl. seats...Furniture and parts thereof, n.e.s. (excl. seats and medical, surgical, dental or veterinary furniture)	0.2%
Food preparations, n.e.s.Food preparations, n.e.s.	0.2%
Fish, fresh or chilled (excl. fish fillets and...Fish, fresh or chilled (excl. fish fillets and other fish meat of heading 0304)	0.2%
Maize or cornMaize or corn	0.2%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns", of iron or steel; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures, of iron or steel (excl. prefabricated buildings of heading 9406)	0.2%
Pumps for liquids, whether or not fitted with a...Pumps for liquids, whether or not fitted with a measuring device (excl. ceramic pumps and secretion aspirating pumps for medical use and medical pumps carried on or implanted in the body); liquid elevators (excl. pumps); parts thereof	0.2%
Sauce and preparations therefor; mixed condiments...Sauce and preparations therefor; mixed condiments and mixed seasonings; mustard flour and meal, whether or not prepared, and mustard	0.2%
Air or vacuum pumps (excl. gas compound elevators...Air or vacuum pumps (excl. gas compound elevators and pneumatic elevators and conveyors); air or other gas compressors and fans; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters; parts thereof	0.2%
Tube or pipe fittings "e.g. couplings, elbows,...Tube or pipe fittings "e.g. couplings, elbows, sleeves", of iron or steel	0.2%
Meat of bovine animals, frozenMeat of bovine animals, frozen	0.2%
Pasta, whether or not cooked or stuffed with meat...Pasta, whether or not cooked or stuffed with meat or other substances or otherwise prepared, such as spaghetti, macaroni, noodles, lasagne, gnocchi, ravioli, cannelloni; couscous, whether or not prepared	0.2%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber	0.2%
Machines and mechanical appliances having...Machines and mechanical appliances having individual functions, not specified or included elsewhere in this chapter; parts thereof	0.2%
Milk and cream, concentrated or containing added...Milk and cream, concentrated or containing added sugar or other sweetening matter	0.2%
Centrifuges, incl. centrifugal dryers (excl. those...Centrifuges, incl. centrifugal dryers (excl. those for isotope separation); filtering or purifying machinery and apparatus, for liquids or gases; parts thereof (excl. artificial kidneys)	0.2%
Articles of plastics and articles of other...Articles of plastics and articles of other materials of heading 3901 to 3914, n.e.s.	0.2%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured	0.2%
Fresh strawberries, raspberries, blackberries,...Fresh strawberries, raspberries, blackberries, back, white or red currants, gooseberries and other edible fruits (excl. nuts, bananas, dates, figs, pineapples, avocados, guavas, mangoes, mangosteens, papaws "papayas", citrus fruit, grapes, melons, apples, pears, quinces, apricots, cherries, peaches, plums and sloes)	0.2%
Beauty or make-up preparations and preparations...Beauty or make-up preparations and preparations for the care of the skin, incl. sunscreen or suntan preparations (excl. medicaments); manicure or pedicure preparations	0.2%
Articles of iron or steel, n.e.s. (excl. cast...Articles of iron or steel, n.e.s. (excl. cast articles)	0.2%
Steam turbines and other vapour turbines; parts...Steam turbines and other vapour turbines; parts thereof	0.2%
Live bovine animalsLive bovine animals	0.2%
Malt extract; food preparations of flour, groats,...Malt extract; food preparations of flour, groats, meal, starch or malt extract, not containing cocoa or containing < 40% by weight of cocoa calculated on a totally defatted basis, n.e.s.; food preparations of milk, cream, butter milk, sour milk, sour cream, whey, yogurt, kephir, and similar goods of heading 0401 to 0404, not containing cocoa or containing < 5% by weight of cocoa calculated on a totally defatted basis, n.e.s.	0.1%
Organic surface-active agents (excl. soap);...Organic surface-active agents (excl. soap); surface-active preparations, washing preparations, incl. auxiliary washing preparations, and cleaning preparations, whether or not containing soap (excl. those of heading 3401)	0.1%
Other vegetables, fresh or chilled (excl. potatoes...Other vegetables, fresh or chilled (excl. potatoes, tomatoes, alliaceous vegetables, edible brassicas, lettuce "lactuca sativa" and chicory "cichorium spp.", carrots, turnips, salad beetroot, salsify, celeriac, radishes and similar edible roots, cucumbers and gherkins, and leguminous vegatables)	0.1%
Chocolate and other food preparations containing...Chocolate and other food preparations containing cocoa	0.1%
Electrical transformers, static converters, e.g....Electrical transformers, static converters, e.g. rectifiers, and inductors; parts thereof	0.1%
Sanitary towels (pads) and tampons, napkins and...Sanitary towels (pads) and tampons, napkins and napkin liners for babies, and similar articles, of any material	0.1%
Articles for the conveyance or packaging of goods,...Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics	0.1%
Dates, figs, pineapples, avocados, guavas, mangoes...Dates, figs, pineapples, avocados, guavas, mangoes and mangosteens, fresh or dried	0.1%
Onions, shallots, garlic, leeks and other...Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or chilled	0.1%
Crustaceans, whether in shell or not, live, fresh,...Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, even smoked, incl. crustaceans in shell cooked by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption	0.1%
Wheat or meslin flourWheat or meslin flour	0.1%
Trunks, suitcases, vanity cases, executive-cases,...Trunks, suitcases, vanity cases, executive-cases, briefcases, school satchels, spectacle cases, binocular cases, camera cases, musical instrument cases, gun cases, holsters and similar containers; travelling-bags, insulated food or beverage bags, toilet bags, rucksacks, handbags, shopping-bags, wallets, purses, map-cases, cigarette-cases, tobacco-pouches, tool bags, sports bags, bottle-cases, jewellery boxes, powder-boxes, cutlery cases and similar containers, of leather or of composition leather, of sheeting of plastics, of textile materials, of vulcanised fibre or of paperboard, or wholly or mainly covered with such materials or with paper	0.1%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304)	0.1%
Tubes, pipes and hoses, and fittings therefor, e.g...Tubes, pipes and hoses, and fittings therefor, e.g. joints, elbows, flanges, of plastics	0.1%
Tricycles, scooters, pedal cars and similar...Tricycles, scooters, pedal cars and similar wheeled toys; dolls' carriages; dolls; other toys; reduced-size "scale" recreational models, working or not; puzzles of all kinds	0.1%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with the machinery of heading 8425 to 8430, n.e.s.	0.1%
Screws, bolts, nuts, coach screws, screw hooks,...Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter pins, washers, incl. spring washers, and similar articles, of iron or steel (excl. lag screws, stoppers, plugs and the like, threaded)	0.1%
Bananas, incl. plantains, fresh or driedBananas, incl. plantains, fresh or dried	0.1%
Soya beans, whether or not brokenSoya beans, whether or not broken	0.1%
Printing machinery used for printing by means of...Printing machinery used for printing by means of plates, cylinders and other printing components of heading 8442 (excl. hectograph or stencil duplicating machines, addressing machines and other office printing machines of heading 8469 to 8472); other printers, copying machines and facsimile machines, whether or not combined; parts thereof	0.1%
Citrus fruit, fresh or driedCitrus fruit, fresh or dried	0.1%
Men's or boys' suits, ensembles, jackets, blazers,...Men's or boys' suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches and shorts (excl. knitted or crocheted, wind-jackets and similar articles, separate waistcoats, tracksuits, ski suits and swimwear)	0.1%
See More Products	28.6%

Source: Comtrade, Latest Available Data

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Commercial Policy

International Economic Cooperation: Member of the World Trade Organization (WTO)
Member of Asia-Pacific Economic Cooperation (APEC)
Member of Association of Southeast Asian Nations (ASEAN), AFTA and the ASEAN - China Free Trade Area.
Assessment of Commercial Policy: Country’s commercial policy
Barriers to exchanges
Average Customs Duty (Excluding Agricultural Products): 6.6%

Trade Compliance

International Conventions: Member of the World Trade Organization (WTO)
International Economic Cooperation: Member of Asia-Pacific Economic Cooperation (APEC)
Member of Association of Southeast Asian Nations (ASEAN), AFTA and the ASEAN - China Free Trade Area.
Useful Resources: Royal Customs & Excise Department

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