BRUNEI
COMMERCE
D99
Practically the whole of the external trade of the State passes through Singapore with transhipment at Labuan, and, with the exception of exports of crude oil, which are effected by pipe-line straight to the refinery in Sarawak, foreign trade in its commonly accepted sense may be said to be non-existent.
The State is largely dependent upon imports for its requirements of foodstuffs. About two-thirds of the consumption of rice, which forms the staple food of the bulk of the population, has to be imported, and the proportion of imports of most other foodstuffs, apart from fish and meat, is also high. It is a curious fact too that, in a State which is a very large producer of oil, petroleum should rank amongst the most important imports. The reason is, of course, that no refining is done within the State, the whole of the production being exported to Sarawak for that purpose.
It is noteworthy that the value of the exports of crude oil and plantation rubber represent approximately 70 per cent. and 22 per cent. respectively of the total export trade.
Malaya's basic quota for the year under the International Rubber Regulation Agreement was 589,000 tons, and of this the share allotted to Brunei was 2,140 tons. The International quota release for the first quarter was 75 per cent., for the second 80 per cent., and for the third and fourth 90 per cent., and the domestic release was the same. The exportable quota for the year was thus 1,792 tons. Under the operation of the scheme the price remained fairly steady from January to March round the comparatively high level of 35 cents a pound. In April there was a sharp rise to 45 cents, but thereafter there was a steady decline, with only occasional rallies, to a price of about 23 cents a pound at the end of December.
The import of cotton and rayon piece goods of foreign origin is, in effect, controlled. Regulation is effected by prohibiting by rule under the Customs Duties Enactment the importation of such goods except from the Straits Settlements or a Malay State, where they have already been subjected to the quota restrictions.
The aggregate value of the trade of the State for the year (exclusive of notes, coin, bullion and specie) was $8,069,582 as against $6,017,329 in 1936 and $5,703,553 in 1935.
Imports.- The total value of imports during the year (exclusive of notes, coin, bullion and specie) amounted to $2,516,154. The majority of the principal commodities showed increases, the largest being in respect of tobacco, provisions, petroleum, timber, dyed cotton goods, machinery, cement and miscellaneous manufactured articles. The figures for the preceding four years were:
1933
1934
1935
1936
$2,051,156
$1,751,868
$1,994,059
$1,869,994
Exports. The total value of exports during the year was $5,553,428. The general trend was upwards, with crude oil, plantation rubber, cutch, sago flour and miscellaneous manufactured articles showing the largest increases. The only serious decrease was in respect of the export of dried prawns. The figures for the preceding four years were:
1933
1934
1935
1936
:
$2.191,037
$3,390,750
$3,709,499
$4,147,335
*D4
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