Brunei's trade balance showed modest surpluses between 2017 and 2023, primarily driven by its oil and gas exports. After a low point of 1,265.5 million USD in 2020, reflecting reduced global energy demand during the pandemic, the surplus rebounded strongly to 5,046.1 million USD in 2022, coinciding with surging oil and gas prices.
In 2023, the surplus moderated to 2,773.4 million USD, likely due to stabilizing energy prices and reduced global demand. While Brunei’s economy is heavily reliant on hydrocarbons, the trade balance remains susceptible to global energy market fluctuations, underscoring the need for economic diversification.
In 2023, the surplus moderated to 2,773.4 million USD, likely due to stabilizing energy prices and reduced global demand. While Brunei’s economy is heavily reliant on hydrocarbons, the trade balance remains susceptible to global energy market fluctuations, underscoring the need for economic diversification.
Explore related charts to gain a better understanding of Brunei’s manufacturing sector GDP share, Brunei’s annual GDP, Brunei’s net lending/borrowing rate as a percentage of GDP.
