Brunei Trade and Economic
The value of New Zealand's merchandise exports for the year ending June 2008 was $3.4 million. There has been a general decrease in exports to Brunei since a peak of NZ$16 million in 1995. Aside from a $96.4 million sale of aircraft in 2006, the main exports continue to be dairy products, valued at about $1.5 million.
New Zealand's imports from Brunei vary widely from year to year. Imports for year ending June 2008, made up nearly exclusively of petroleum products, were valued at $495 million. This is a 98% increase from 2007. Non-petroleum imports to June 2008 amounted to $19,000.
The level of Brunei investment in New Zealand is not recorded, partly because much of it enters indirectly via Singapore institutions.
Trade Access Issues
Given Brunei's dependence on imports and corresponding low tariffs, New Zealand experiences few trade access problems with Brunei. In recent years, Brunei has sought to expand the economy's base to decrease its reliance on fossil fuel exports. Brunei has encouraged the development of other industries and in some cases has imposed import restrictions to assist this development.
Last updated: 05 December 2008
