Brunei Darussalam exports many products to other countries. Brunei major products include petroleum gas, crude petroleum, refined petroleum, acyclic alcohols, and cyclic hydrocarbons. Those products are exported to neighboring countries including Japan, Malaysia, India, Singapore, and more.
Brunei also imports many products including cars, valves, tug boats, and some other products. The country imported products from several countries including the United Arab Emirates, Nigeria, Singapore, Malaysia, and China.
Brunei Major Products for Exports
Brunei Darussalam exported 7 billion US$ in total, only in 2019. The country became the 103rd exporter in this world. Products that are most exported in the last five years include petroleum gas that reached 3.23 billion US$ and crude petroleum that reached 2.7 billion US$.
The other products exported by Brunei in the last five years are refined petroleum that reached 361 million US$, acyclic alcohols that reached 161 million US$, and also cyclic hydrocarbons that reached 49.9 million US$. The top export destination was Japan, which reached 2.37 billion US$.
Australia reached 822 million US$, Singapore reached 868 million U$, India reached 565 million US$, and Malaysia reached 563 million US$.
Imported Products to Brunei Darussalam
Brunei Darussalam also imported many products from other countries. The biggest product imported to Brunei is crude petroleum which reached 974 million US$ and refined petroleum that reached 390 million US$. Brunei also imported cars, tug boats, special purpose ships, and aircraft parts.
Mostly, Brunei imported from Singapore, China, Malaysia, United Arab Emirates, Japan, Indonesia, Thailand, Kazakhstan, Vietnam, India, South Korea, Nigeria, United States, United Kingdom, Germany, Belgium, Italy, France, and some other bigger countries.
Let the experienced team help you learn more about Market Research Brunei in order to get to know what you can do to expand to Brunei Darussalam.
The Growth of Export Products in Brunei
Exported products from Brunei Darussalam rose about 9.3% to 1,162.3 million BND in March 2021. The sales grew for chemicals (45.8%) and fuels (2.9%). The highest exports share went to two countries, Singapore for 31.1% and also China for 19.9%.
Brunei Darussalam is not only exporting natural gas and oil even though it is Brunei major products and reaches 90% of export products. The other products exported by this country include chemicals, transport equipment, and machinery. The main partners now also expand to many more countries.
Japan is the biggest destination in 2021 with 35% total imports from Brunei, South Korea 14%, Thailand 9%, India 9%, Singapore 7%, Malaysia 6%, China 5%, Australia 5%, and New Zealand 3%.
Opportunities in Brunei Market
Since Brunei Darussalam still imports from many other countries, businesses from the other countries still have a huge opportunity to enter Brunei’s market. Look for the products needed by Brunei the most. Importing products needed by Brunei’s market is the most promising opportunity to expand to Brunei.
Even though the country has small populations, the income per capita of the country is one of the biggest in the world. It is a great opportunity to grow your business in Brunei Darussalam, especially since the government has a wonderful rule for the foreign companies.