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Statistics of International Trade in Services
Latest Highlights 2024
In 2024, the total trade in services was valued at BND2,878.8 million, reflecting an 8.1 per cent increase compared to the 36.8 per cent growth recorded in 2023. This accounted for 14.0 per cent on Brunei Darussalam’s Gross Domestic product (GDP) at current prices. Both exports and imports of services grew by 19.8 per cent and 5.7 per cent respectively. Growth in exports was driven by Transport, Travel, and Other Business Services, while imports rose due to similar categories.
More details... TECHNICAL NOTES  REPORT |
Summary Data
Table 1: Exports and Imports of Trade in Services
| | |
BND Million
|
Change (%)
|
2022
|
2023
|
2024
|
2023
|
2024
|
2022
|
2023
| Exports of Services
| 388.2
| 456.7
| 547.2
| 17.6
| 19.8
| Imports of Services
| 1,557.7
| 2,205.9
| 2,331.6
| 41.6
| 5.7
| Trade Balance
(Net Services)
| -1,169.5
| -1,749.3
| -1,784.4
| 49.6
| 2.0
|
Total Trade
|
1,945.9
|
2,662.6
|
2,878.8
|
36.8
|
8.1
|
Notes: Net Services = Exports of Services - Imports of Services Total Trade = Exports of Services + Imports of Services
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Table 2: Exports in Services by Major Components |
Major Components | BND
(Million) | Change
(%) |
Contribution
(%) | | |
2022 |
2023 | 2024 |
2023
2022 | 2024
2023 |
2024 | | 1. Manufacturing services on physical inputs owned by others | - | - | - | - | - | - | | 2. Maintenance and repair services not included elsewhere (n.i.e.) | 0.1 | 0.4 | 1.2 | 223.7 | 178.0 | 0.2 | | 3. Transport | 271.8 | 246.3 | 294.1 | -9.4 | 19.4 | 53.7 | | 4. Travel | 19.0 | 95.4 | 170.4 | 402.8 | 78.7 | 31.1 | | 5. Construction | 41.2 | 22.0 | 6.3 | -46.8 | -71.5 | 1.1 | | 6. Insurance services | 1.9 | 0.3 | 0.4 | -82.4 | 12.4 | 0.1 | | 7. Financial services | 0.6 | 0.6 | 0.9 | 4.9 | 60.7 | 0.2 | | 8. Charges for the use of intellectual property not included elsewhere (n.i.e.) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | 9. Telecommunications, computer and information services | 8.0 | 46.1 | 19.7 | 476.3 | -57.2 | 3.6 | | 10. Other business services | 20.1 | 20.1 | 28.7 | -0.2 | 42.8 | 5.2 | | 11. Personal, cultural and recreational services | 0.0 | 0.0 | 0.0 | -29.2 | -26.9 | 0.0 | | 12. Government goods and services not included elsewhere (n.i.e.). | 25.5 | 25.5 | 25.2 | 0.0 | - | 4.7 | |
Total |
388.2 |
456.7 | 547.2 |
17.6 | 19.8 |
100.0
|
Major Components | BND
(Million) | Change
(%) |
Contribution
(%) | | |
2022 |
2023 | 2024 |
2023
2022 | 2024
2023 |
2024 | | 1. Manufacturing services on physical inputs owned by others | - | - | - | - | | - | | 2. Maintenance and repair services not included elsewhere (n.i.e.) | 124.1 | 190.9 | 177.1 | 53.8 | -7.2 | 7.6 | | 3. Transport | 330.8 | 391.8 | 396.4 | 18.4 | 1.2 | 17.0 | | 4. Travel | 165.8 | 548.9 | 738.3 | 231.1 | 34.5 | 31.7 | | 5. Construction | 289.8 | 235.9 | 107.2 | -18.6 | -54.6 | 4.6 | | 6. Insurance services | 101.3 | 73.3 | 60.0 | -27.6 | -18.1 | 2.6 | | 7. Financial services | 2.1 | 1.1 | 1.5 | -48.3 | 37.5 | 0.1 | | 8. Charges for the use of intellectual property not included elsewhere (n.i.e.) | 8.5 | 8.1 | 26.1 | -3.9 | 221.1 | 1.1 | | 9. Telecommunications, computer and information services | 54.8 | 78.6 | 89.9 | 43.5 | 14.3 | 3.9 | | 10. Other business services | 436.1 | 633.4 | 691.5 | 45.2 | 9.2 | 29.7 | | 11. Personal, cultural and recreational services | 4.4 | 3.9 | 3.7 | -10.9 | -5.9 | 0.2 | | 12. Government goods and services not included elsewhere (n.i.e.). | 40.0 | 40.0 | 40.0 | - | - | 1.7 | |
Total |
1,557.7 |
2,205.9 | 2,331.6 |
41.6 | 5.7 |
100.0
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