Brunei exports fell by 32 per cent in May

EXPORTS fell by 32 per cent on year in May to $698.5 million, owing to a sharp decline in oil and gas shipments, according to data issued by the Department of Economic Planning and Development (JPKE).

Oil and gas exports, which account for over 90 per cent of the Sultanate’s exports, plunged by 31.4 per cent on year.

In terms of value, oil exports fell by 23 per cent on year to $325 million due to sinking global prices. Average export price fell from US113.77 per barrel in May 2014 to US$66.79/bbl.