Brunei Records BND 313.7 Million Trade Deficit in July 2020 as Exports Decline

October 16, 2020

Brunei has recorded a BND 313.7 million (USD 230.5 million) trade deficit in July 2020, compared to a surplus of BND 251.8 million in the same month a year earlier, according to data released by the country’s Ministry of Finance and Economy on the 15th of October 2020.

This marked an extension of Brunei’s first trade deficit since 2014, which was reported in June 2020. According to media reports, the country’s July 2020 deficit was attributed to a 24.2% year-on-year decline in exports, down to BND 508.5 million in July 2020 from BND 670.8 million recorded in the same month in the previous year, amidst deteriorating global demand in the wake of the COVID-19 pandemic.