Brunei's economy advanced 2.4% yoy in March quarter of 2020, after a record high of 7.1% expansion in the prior period. Household consumption growth eased sharply (2.1% vs 7.5% in Q4), amid a decline in both government spending (-16.4% vs 2.9%) and fixed investment (-17.3% vs -12%). Meanwhile, net exports contributed positively to the GDP growth, as exports grew (29.1% vs 28.9% in Q4) while imports fell (-5.3% vs 30.6%). On the expenditure side, the service sector shrank (-2.5% vs 0.7% in Q4), dragged down by contraction in land and air transport, hotels, restaurants. Also, the industry sector rose much less (5.3% vs 11.4%), on the back of a slowdown in construction activities and falls in oil and mining and manufacture of textiles. Meanwhile, output grew further for the agriculture, forestry and fishing sector (5% vs 1.8%), led by a rebound in production of vegetables, fruits; and livestocks and poultry. On a quarterly basis, the economy shrank 5.2%, after a 11.1% expansion in Q4.

GDP Annual Growth Rate in Brunei averaged 0.44 percent from 2004 until 2020, reaching an all time high of 7.10 percent in the fourth quarter of 2019 and a record low of -8.10 percent in the fourth quarter of 2013. This page provides - Brunei GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brunei GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.

GDP Annual Growth Rate in Brunei is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Brunei to stand at 1.40 in 12 months time. In the long-term, the Brunei GDP Annual Growth Rate is projected to trend around 1.40 percent in 2021 and 2.50 percent in 2022, according to our econometric models.

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Brunei GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.40 7.10 7.10 -8.10 2004 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-10-29 09:00 AM Q2 6.7% -0.5% 1.4%
2020-02-13 01:00 AM Q3 2.0% 6.7% 3.5%
2020-03-23 03:30 AM Q4 7.1% 2.1% 0.9%
2020-07-20 12:30 AM Q1 2.4% 7.1% 2.5%
2020-10-29 12:30 AM Q2 2.4% 1.2%


News Stream
Brunei Q1 GDP Growth Slows Sharply
Brunei's economy advanced 2.4% yoy in March quarter of 2020, after a record high of 7.1% expansion in the prior period. Household consumption growth eased sharply (2.1% vs 7.5% in Q4), amid a decline in both government spending (-16.4% vs 2.9%) and fixed investment (-17.3% vs -12%). Meanwhile, net exports contributed positively to the GDP growth, as exports grew (29.1% vs 28.9% in Q4) while imports fell (-5.3% vs 30.6%). On the expenditure side, the service sector shrank (-2.5% vs 0.7% in Q4), dragged down by contraction in land and air transport, hotels, restaurants. Also, the industry sector rose much less (5.3% vs 11.4%), on the back of a slowdown in construction activities and falls in oil and mining and manufacture of textiles. Meanwhile, output grew further for the agriculture, forestry and fishing sector (5% vs 1.8%), led by a rebound in production of vegetables, fruits; and livestocks and poultry. On a quarterly basis, the economy shrank 5.2%, after a 11.1% expansion in Q4.
2020-07-20
Brunei Q4 GDP Annual Growth Rate Hits Record High
Brunei's economy advanced 7.1% yoy in Q4 2019, the third straight quarter of expansion, following an upwardly revised 2.1%. This was the highest growth rate on record, boosted by a faster rise in government spending (7.5% vs 6.3% in Q3) and a further rise in household consumption (2% vs 2.1%). At the same time, net foreign demand contributed positively to the GDP, amid a surge in exports. Meanwhile, gross capital formation fell less (-12% vs 19.2%). On the production side, output grew further for both industry 911.4% vs 0.5%), of which oil and gas (6.9% vs 1.8%) and manufacture of LNG and other petroleum, chemical products (28.5% vs -1.7%); and services (0.7% vs 5.1%), on the back of a rebound in agricultural, forestry & fishing (1.8% vs -4.8%), particularly fishery (14.6% vs -16.9%). On a quarterly basis, the economy advanced 10.9% in Q4, after a downwardly revised 0.3% contraction in Q3.
2020-03-23
Brunei Q3 GDP Annual Growth Slows Sharply
Brunei's economy advanced 2.0% yoy in Q3 2019, the second straight quarter of expansion, following a 6.7% growth in Q2. There were rises in both government spending (0.8% vs -9.6% in Q2) and household consumption (4.7% vs 2.3). At the same time, net foreign demand contributed positively to the GDP as exports fell 0.2% while imports shrank at a faster 9.9%. Meanwhile, gross capital formation slumped (-19.5% vs 16.4%). On the production side, output growth slowed for both industry sector (0.4% vs 7.7%) and services (4.8% vs 5.1%). In addition, agricultural, forestry & fishing contracted (-4.9% vs 0.3%), particularly livestock and poultry (-5.2% vs -0.3%) and fishery (-16.9% vs 0.5%). On a quarterly basis, the economy shrank 0.5% in Q3, after a 2.2% contraction in Q2.
2020-02-13
Brunei Q2 GDP Growth Hits Record High
Brunei's economy advanced 6.7 percent year-on-year in the second quarter 2019, reversing from a 0.5 percent 0.5 percent contraction in the previous period.This was the highest annual growth rate on record, boosted by a surge in capital formation (16.4% vs 1% in Q1) and a further rise in household consumption (2.3% vs 7.2%). Also, net foreign demand contributed positively, as exports rebounded strongly )35.1% vs -3.2%) while imports slowed (11.7% vs 20%). Conversely, government spending contracted sharply (-9.6% vs 1%). On the production side, output rebounded for agricultural, forestry & fishing (0.3% vs -3.3%), particularly livestock and poultry (0.3% vs -5.1%) and fishery (0.5% vs -3.8%). Also, the industry sector grew 7.7 percent, after a 2.3 percent fall in Q1. In addition, the services sector production rose faster (5.1% vs 2.8%). On a quarterly basis, the economy shrank 2.2 percent, after a 1.1 percent contraction in the March quarter.
2019-10-23

Brunei GDP Annual Growth Rate
Brunei is the fourth-largest oil producer in Southeast Asia. Oil accounts for around 62 percent of GDP and is the source of 90 percent of government revenues. Yet, in recent years, oil production has declined and, as a result, growth has slowed down. In order to strengthen Brunei’s long-term prospects, the government has been trying to diversify the economy by using oil revenues to invest in non-oil industries like Islamic banking and by attracting foreign direct investments. Focus on eco-tourism has also been high, given that 70 percent of the country’ is covered by tropical forest.