Iron and Steel, Motor Vehicles, Machinery and Transport equipment, Manufactured Goods, Foods, and Chemicals
Main destinations of export
Japan
South Korea
Australia
NZ
India
Vietnam
2012
44.1%
15.7%
7.5%
5.1%
8.9%
4.7%
2013
39.8%
16.3%
7.3%
4.1%
7.6%
5.3%
Main origin of import
Singapore
China
UK
Malaysia
USA
Japan
2012
23.6
11.4%
9.1%
19.9%
7.8%
7.5%
2013
19.1%
11.2%
2.0%
21.9%
11.9%
5.8%
2. India-Brunei Trade
Our trade figures with Brunei Darussalam are given below (Source DGCIS):
(Value: Million Brunei $) (B$1 = ₹ 48.54)
2008
2009
2010
2011
2012
2013
Upto 11/2014
Indian Exports
29.39 (+34.20%)
39.21 (+33.41%)
31.13 (-20.60%)
36.53 (+17.34%)
42.59 (+16.58%)
47.20 (+10.82%)
43.78 (-7.24%
Indian Imports
478.15 (+74.72%)
892.55 (86.66%)
674.80 (-24.39%)
1265.91 (+87.59%)
1444.55 (+14.11%)
919.78 (-36.33%)
1007.61 (+9.54%)
Total trade
507.54(+71.72%)
931.76(+83.58%)
705.93(-24.23%)
1302.44(+84.49%)
1487.14(+14.18%)
966.98(-34.98%)
1050.39(+8.62%)
Note: The figures in parenthesis represent the percentage change compared to the previous year.
According to DGCIS Kolkata data, the bilateral trade between India and Brunei during the period Jan-Nov 2014 amounted to B$1,050.39 million. The exports from India amounted to B$43.78 million and imports from Brunei were B$1,007.61 million. Figures from the last few years indicate that the overall trade between India and Brunei has been increasing steadily over the last few years. Our imports are showing phenomenal increase primarily because of our dependence on Brunei for LNG and petroleum products. This trend is likely to continue as our energy requirement keeps increasing every year. Our exports to Brunei are also showing an increasing trend though at a steady pace.
The reasons for lower level of bilateral trade have been relatively high shipping costs, and Brunei’s small population base of approximately 422,000 (July 2014 estimates). The main import of India from Brunei is crude oil and petroleum products, followed by organic chemicals, metal ores and scrap. Due to low demand, most of the consumer goods from India are received in Brunei through re-exports via Malaysia and Singapore. Our main exports to Brunei consist of transport equipment, followed by meat and meat products and gems & jewellery.
The trade figures between India and Brunei during the last few years received from the Department of Economic Planning and Development, PM’s Office, Brunei, are as given below (current rate of exchange between Brunei Dollar and INR is approximately B$ 1.00: INR 47.85 as in December 2014):
[Source: Department of Economic Planning & Development, Brunei]
(Value Brunei Dollars million – B$)
Year
Exports from India
Imports by India
Total trade
2006
14.15
597.06
611.21
2007
21.90(+54.77%)
273.66(-54.16%)
295.56(-51.64%)
2008
29.39(+34.20%)
478.15(+74.72%)
507.54(+71.72%)
2009
39.21(+33.41%)
892.55(+86.66%)
931.76(+83.58%)
2010
31.13(-20.60%)
674.80(-24.39%)
705.93(-24.23%)
2011
36.53(+17.34%)
1265.91(+87.59%)
1302.44(+84.49%)
2012
42.59(+16.58%)
1444.55(+14.11%)
1487.14(+14.18%)
2013
44.03(+3.39%)
1082.16 (-25.09%)
1126.19 (-24.28%)
2014 (Jan-Oct)
49.18 (+11.70%)
1050.06 (-2.97%)
1099.24 (-2.40%)
Note: The figures in parenthesis represent the percentage change compared to the previous year.
We would like to mention the following points with regard to the aforementioned table:
Total trade: During 2013 the total trade between India and Brunei amounted to B$966.98 million, a decrease of 34.98% as compared to B$1,487.14million during FY 2012.
India’s exports to Brunei during 2013 was B$47.20 million, an increase of 10.82% as compared to B$42.59 million during 2012.
India’s imports from Brunei during 2013 was B$919.78 million, a decrease of 36.33% as compared to B$1444.55 million during 2012.
During the first eleven months of 2014, i.e., January to November 2014, the ilateral trade has already reached B$1050.39 million, representing an increase of 8.62% over 2013 full year figures. When the figures for entire 20142014 are received, the increase will be even more pronounced.
The huge volume of India’s imports is due to the import of large quantity of petroleum products.
Remarks: Due to the large quantity of crude oil that we import from Brunei Darussalam we maintain a significant trade deficit which could increase as we are likely to import more and more quantities of crude from Brunei. Therefore, efforts have to be made to expand India’s export to Brunei Darussalam. It may be mentioned that Brunei can also be an important source for importing natural gas. Further, in the services sector, Indian manpower is present in Brunei in reasonably good numbers as highly qualified professionals, businessmen and skilled/semi-skilled workers and the repatriation by them of their savings to India constitute an important foreign exchange earning for India.
(iv) Number of trade enquiries received/attended to locally and from India:
During 2014, there were 243 trade enquiries attended to by the Mission compared to 456 in 2013. Most of these trade enquires were from India seeking information about business opportunities in Brunei and importers and distributors list of various commodities and items. Indian companies and businessmen, including those visiting Brunei, also approached Mission seeking assistance/guidance on business matters and for arranging meetings with local authorities. In addition, some Bruneian businessmen also approached the Mission every month asking for information about Indian exporters and other business matters.
Indian tender notices for various projects were put on the Mission’s website. Similarly, the tender notices issued by Brunei authorities were transmitted to the Indian apex bodies like FICCI and CII.
(v) Number of Commercial Delegations
From India:
The following delegations visited Brunei during the year 2014:
A delegation from Indian PSU company Bharat Petroleum Corporation Ltd (BPCL) visited Brunei on 24-25 May, 2014 to sign a Sale of Oil Agreement with Brunei Shell Petroleum.
Shri Syed Sarfraz, Dy GM, Healthcare Services (INT) of Apollo Hospitals in India, visited Brunei on 5-8 June, 2014. Subsequently, he and Senior Vice President of Apollo Hospital visited Brunei on 19 November, 2014. They met the Health Minister and Permanent Secretary of Health Ministry and discussed possibility of training of doctors, nurses and other medical personnel from Brunei, development of an Organ Transplant Unit at RIPAS Hospital and visit of Health Minister to India.
Apart from these visits, some individual business persons/representatives from Indian companies also visited Brunei during 2014.
From Brunei:
There were visits of commercial delegations particularly from Buffalo meat importers and crude oil exporters from Brunei to India. Besides, the Mission issued 141 business visas to the Bruneian business persons in 2014.
(vi) Projects for Indian companies in Brunei:
There is no project of an Indian company in Brunei. However, some Indian companies or individual entrepreneurs have business collaboration with some companies in Brunei.
(vii) Trade fairs:
Indian companies are always encouraged to participate in trade fairs in Brunei. There have been instances of individual business persons taking part in some trade fair. In a trade fair called BRIDEX, which was held in December 2013, three Indian publishing houses participated. However, in 2014 there was no report of any participation from India in any trade fair held in Brunei.
Details of Commercial Publicity:
The commercial publicity efforts were made through local companies and chambers of commerce during the visit of some of the Indian commercial delegations and also about some business events organized in India.
Exhibitions: Nil:
Trade disputes/matters attended:
Report about a labour dispute involving Indian workers for non-payment and delayed payment of salaries was received in the Mission in July/August 2014. The mission made necessary efforts and the matter was settled amicably with the assistance and cooperation of employer.
Source: Commercial Section, Embassy of India, Bandar Seri Begawan
