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flag Brunei Darussalam Brunei Darussalam: Trade Profile

Foreign Trade in Figures

The country is open to the market economy. In effect, the government is seeking to diversify its economy towards the manufacturing sector and services. However, the country does not have a government regulation monitoring agency, a fact which hinders the formulation of trade policies. 

Except for tobacco, alcohol and petroleum products, customs duties are not very high on most products. The country, which wishes to liberalize trade further, has announced that all tariff barriers with the ASEAN (Association of Southeast Asian Nations) will be removed by 2015.

Brunei shows a surplus trade balance, a trend which is expected to continue during the coming years.

The Sultanate's main trade partners are the ASEAN member countries, Japan and the United States. The country exports oil, natural gas and clothes to Japan, Indonesia, South Korea and Australia. The main import products are machinery, transport equipment, manufactured products, foodstuffs and medications from Singapore, Malaysia, Japan, China, Thailand, the United States and the United Kingdom.

 
Foreign Trade Indicators 20062007200820092010
Imports of Goods (million USD) 1,6762,1012,5742,4543,360
Exports of Goods (million USD) 7,6367,66810,2977,2039,150
Imports of Services (million USD) 1,0351,1151,1811,215-
Exports of Services (million USD) 745813867915-
Imports of Goods and Services (Annual % Change) 413---
Exports of Goods and Services (Annual % Change) 4-10---
Trade Balance (million USD) 6,0395,7007,8404,889-
Current Account (million USD) 5,2294,8286,9393,977-
Foreign Trade (in % of GDP) 9796---
Imports of Goods and Services (in % of GDP) 2528---
Exports of Goods and Services (in % of GDP) 7268---

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

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Main Partner Countries

Main Customers
(% of Exports)
2006
Japan 30.6%
Indonesia 19.8%
South Korea 15.1%
Australia 12.2%
United States 6.7%
See More Countries 15.5%
Main Suppliers
(% of Imports)
2006
Malaysia 21.6%
Singapore 17.4%
Japan 12.8%
United States 9.0%
China 7.9%
See More Countries 31.3%

Source: Comtrade, Last Available Data

Main Products

Main Exports
(% of Exports)
2006
Petroleum oils, oils from bituminous minerals,...Petroleum oils, oils from bituminous minerals, crude 67.3%
Petroleum gases and other gaseous hydrocarbonsPetroleum gases and other gaseous hydrocarbons 29.0%
T-shirts, singlets and other vests, knit or...T-shirts, singlets and other vests, knit or crochet 0.9%
Womens, girls blouses & shirts, knit or crochetWomens, girls blouses & shirts, knit or crochet 0.4%
Machine tools except lathes to drill, bore/mill...Machine tools except lathes to drill, bore/mill/thread 0.3%
See More Products 2.1%
Main Imports
(% of Imports)
2006
Motor vehicles for transport of persons (except...Motor vehicles for transport of persons (except buses) 8.7%
Turbo-jets, turbo-propellers/other gas turbine...Turbo-jets, turbo-propellers/other gas turbine engines 2.6%
Medicaments, therapeutic, prophylactic use, in...Medicaments, therapeutic, prophylactic use, in dosage 2.5%
Woven cotton fabric, nesWoven cotton fabric, nes 2.4%
Automatic data processing machines (computers)Automatic data processing machines (computers) 2.4%
See More Products 81.4%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import export flows

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Commercial Policy

Main International Economic Cooperation
Member of World Trade Organisation
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%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources
Royal Customs & Excise Department



National Organization of Intellectual Property
The Attorney General's Chambers.
 

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Learn more about How to Export to Brunei Darussalam on Globaltrade.net, the Directory for International Trade Services.
 

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Last Updates: February 2012

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